Leftist billionaire and eBay founder Pierre Omidyar has reportedly invested heavily in a private security start-up known as the Uber for bodyguards, while funding movements advocating for the defunding or abolition of police forces.
This contrast between his philanthropic approach and investment strategy has raised questions about his motives.
According to the Bloomberg Billionaires Index, Omidyar is worth $8.91 billion, and a significant portion of his wealth has been given to groups involved in protests against police misconduct. The Omidyar Network, his charitable organization, donated $500,000 to these causes, while two organizations tied to the network, PolicyLink and Democracy Fund, received $1.3 million to sponsor DefundPolice.org, a website used by advocates to call for cuts to police budgets.
The Movement for Black Lives, an abolitionist coalition, received an additional $300,000, while Equity and Transformation, a Chicago-based organization, received $100,000 to support police defunding.
However, Omidyars investments appear to point in a different direction. He has invested heavily in Bond, a private security start-up that enables people to hire professional bodyguards on demand. Bond was established in 2017 and has raised $72 million in funding, with Omidyar among its backers.
The companys website states that bodyguards are no longer just for celebrities and executives, and that affordable, highly-trained, professional bodyguards can be reserved via the Bond platform and app whenever needed.
Omidyar also owns a stake in Deep Sentinel, an AI-driven security camera system to spot intruders. These private security alternatives appear to be gaining popularity, with a security-focused company reportedly seeing a triple in revenue over the previous year despite rising crime rates and concerns.
Former NYPD Commissioner Ray Kelly, a current advisor to the Bond board, claimed that Bond fills in the gap when you feel somewhat uncomfortable due to the perceived decrease in police presence. Omidyars investment in private security start-ups and funding movements advocating for police defunding or abolition has created an exciting contrast between his philanthropic approach and investment strategy.
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