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Tesla’s Elon Musk Announces Plans to Buy Part of The Walt Disney Company If THIS Happens on Wednesday

elon musk bob iger nelson peltz
Credit: Flickr/Daniel Overbaus/Flickr/Milken Institute/Disney/Canva

Billionaire Elon Musk is publicly backing activist investor Nelson Peltz in the proxy battle, the winner of which will determine the future of The Walt Disney Company.

cinderella castle at disney world with clock behind it

Credit: Disney/Canva

Voting Ended on Tuesday Evening

Voting to select members of Disney’s board of directors came to a close on Tuesday evening, and those nominated by Disney CEO Bob Iger appear likely to win seats on the board. But that didn’t deter Tesla and Space X founder Elon Musk from chiming in on his social media platform, X, formerly Twitter, on Wednesday morning, saying:

Nelson Peltz should definitely be on the Disney board! He would help reform the company, improve the quality of product and generally serve in the best interests of shareholders, as he has done at many other companies. This would significantly improve Disney’s share price.

Elon Musk & Nelson Peltz

Musk went on to clarify that he is not currently a Disney Company shareholder. But he is known to have a good rapport with Peltz.

elon musk and

Credit: Flickr/Daniel Overbaus/Flickr/Milken Institute/Canva

In February 2024, Musk and Peltz were seen together at the premiere of the film Lola, which stars Peltz’s daughter Nicola Peltz Beckham. Beckham also directed the film.

Though Musk is not a Disney shareholder at this time, he said that should Nelson Peltz win a seat on Disney’s board, he would “definitely” purchase a stake in the company, though it isn’t clear what size stake he would buy. Could it be that Musk has plans for a less-hostile takeover of The Walt Disney Company than the one Peltz has attempted in recent months?

nelson peltz disney troubles

Images Credit: Disney/Canva

For that answer, shareholders will have to wait and see. But when it comes to the results of the vote to select Disney’s newest board members, shareholders and non-shareholders alike can listen in to The Walt Disney Company’s shareholders’ meeting on Wednesday afternoon, beginning at 1:00 p.m. EST by clicking here.

About Becky Burkett

Becky's from the Lone Star State and has been writing since she was 10 and encountered her first Disney Park when she was 11. It was love at first Main Street Electrical Parade. Joy is blank lined journals, 0.7 mm pens, and all things Walt, Woody and Buzz, PIXAR, Imagineering, Sleeping Beauty (make it blue!), Disney Parks history and EPCOT. At Disney World, you'll find her croonin' with the birdies at the Enchanted Tiki Room or hangin' with Woody and the gang at Toy Story Land. If you can dream, you really can do it!

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