At the community college where I teach, there are two huge benefits of being tenured (or tenure-track) which other answers have not touched on:
You get representation by a labor union that effectively advocates for you on issues of pay and working conditions.
You get effective representation in the faculty senate, which has a lot of influence over academic and professional matters.
(This is very different from the situation experienced by adjunct faculty. Part-timers have a different union, which is basically powerless, and although they have representation on the faculty senate, they have very little influence there.)
A great number of other benefits flow from these. Here are a couple of random examples.
My school claims in its catalog that it is a smoke-free campus, but in fact when they wrote up the rules, they decided that it wasn't practical to make that policy apply to union members. I have a tenured colleague who has a nicotine addiction, and for harm reduction she gets her nicotine fix by vaping in her office. For comparison, I had a nicotine-addicted student last year who couldn't make it through a three-hour physics lab without a fix. He had to leave lab and walk off campus to get his nicotine, because the campus police would hassle him if he vaped outside.
A decade ago, I was attacked by a student who threw me over a bench and into some bushes and threatened to kill me. An inaccurate version of the story got written up in the police report, apparently making me look bad. Once I realized that I might be in trouble, maybe even in danger of getting fired, I asked to see the police report so that I could understand what they thought I had done, but my management supervisor said that I couldn't see it because that would violate the student's privacy. I got nowhere on this until I got the union involved, after which the whole problem evaporated.