The most recent major content update for GTA Online was the Executives and Other Criminals DLC. This update brought with it possibly the most new content in a single update to GTA Online yet. The gargantuan yachts gave high level players some sweet end-game content to strive for, as well as a far off goal for lower level players to motivate them. The update also added the standard fare of a few new vehicles and weapons, though these paled in comparison of the massive luxury liners.

While the yachts may have been getting all the press, they weren't the most important part of the update. Back when the Freemode Events update launched, many of the changes were made backstage, in the basic functions of GTA Online. That update, and even Lowriders afterwards, didn't make use of this new framework.
Executives and Other Criminals is the first of the "new wave" of GTA Online updates. This DLC added a whole new layer to gameplay with the VIP/Bodyguard system, shaking things up a bit.
VIPs
VIPs are the top dogs of white collar crime in Los Santos. No surprise, as players need some serious starting capitol to be considered one of the elite. While becoming a VIP does not "cost" money in the traditional sense, the option only becomes available if you have at least $GTA one million in your bank account. If this requirement is met, you can register as a VIP and get earning.
As a VIP, a wide selection of new and highly lucrative mission types become available to you, but you'll need some backup to get these done. You can hire a maximum of three bodyguards, who will form a part of your organisation, and assist you in special VIP missions.
Bodyguards
These bodyguards will follow you around, and make sure that anyone who would encroach upon your physical well-being is punished. If one of your bodyguards falters in their loyalty, you can order them terminated, giving your other two guards 5 minutes to take out the traitor for a reward.
Working as a bodyguard has a few restrictions, but it can be a great way of earning some solid cash. As a bodyguard, you are paid to keep your employer alive and healthy. Naturally, if you fail to accomplish this, your pay will be adjusted accordingly. Each time the VIP dies, your salary and payouts will take a 5% cut, up to a maximum of a 50% reduction.