Menu

World Famous Basket Ball Star Bashes Billionaire Squeezing Life Out of Disney

Bob Iger with a serious expression standing in a crowded Disney theme park with classic style buildings in the background.
Edited by Disney Dining.

The fans have spoken, and they are done with the billionaires thinking they know what’s “best for the people,” especially when it comes to Disney.

The contentious battle between billionaire activist-investor Nelson Peltz and the iconic entertainment giant Disney has finally reached its conclusion, with Disney emerging victorious in a decisive manner.

This outcome was solidified through the resounding support of shareholders who unequivocally backed Disney’s nominations for their board members.

Despite their efforts, both Nelson Peltz and Jay Rasulo were left disappointed as they were unable to secure the coveted board seats they had been vigorously pursuing.

The outcome underscored Disney’s ability to effectively navigate challenges and maintain a firm stance in the face of significant shareholder pressure, ultimately reinforcing its strategic direction and leadership decisions.

cinderella castle magic kingdom

Cinderella Castle, Magic Kingdom Park, Walt Disney World / Credit: Greg Park, Unsplash

The feud was yet another long-documented one, with Peltz assembling an entire team of supporters, from former Disney CFO Jay Rasulo to the recently laid-off Ike Perlmutter (the former Marvel Chairman). Perlmutter had pledged his shares in Disney to Peltz, which ended up comprising about 80% of Trian’s stake in the Walt Disney Company.

On winning this battle, Disney CEO Bob Iger even took a shot at Peltz and his campaign, noting how the company could get back to work now that this “distraction” was dealt with.

While numerous media sources extensively reported on this high-profile feud, there were additional voices that contributed their insights, such as the renowned basketball legend and current events commentator, Kareem Abdul-Jabbar.

Jabbar’s perspective added a unique angle to the discourse surrounding this clash between fans and billionaires within the realm of Disney.

activist investor nelson peltz walt disney company

Credit: YouTube – Bloomberg Wealth

Abdul-Jabbar talked in his piece about Peltz’s comments about Disney’s woke messaging. “People go to watch a movie or a show to be entertained,” Peltz had said, “lambasting the company’s increasing emphasis on diverse content,” wrote Abdul-Jabbar. “They don’t go to get a message.”

Abdul-Jabbar astutely asked in his commentary, Why do rich people think they also know what “people” want?”

He also continued, As capitalists, they should be promoting the idea of letting the marketplace decide what people want through their spending. For example, further down he questions having an all-Black cast. The fact that Black Panther made $1.3 billion might be an answer.” 

Ultimately, Peltz was defeated, but it’s a perspective that many shared in the comments.

Bob Iger called Extremist

Disney CEO Bob Iger / Credit: Disney

Another fan noted in the comments how a woman once asked the founder of Starbucks a similar question. The fan explained that a few years ago, Howard Schultz, the founder of Starbucks, was making his case for being a presidential candidate.

In response, “A woman asked him, ‘why does every A–hole billionaire think he’d make a good president?’ It was a great smackdown moment…As far as I’m concerned being a billionaire shows that you might be good at managing your own business, but there is nothing about being rich that automatically qualifies you as competent in everything.”

What do you think of Kareem Abdul-Jabbar’s view on the billionaire debate with Disney’s decisions? Let Disney Dining know in the comments! 

About Priyanka Kumar

Priyanka is a writer, artist, avid reader, and travel enthusiast based in Chicago. In her free time, she is probably walking by the lake, catching up on the latest releases on TV, or spending inordinate amounts of time rewatching Moana, Encanto, and her Disney Channel life-long favorites Zack and Cody wreak havoc on the Tipton.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.