Based on the success and all the news surrounding Disney, it’s no secret that the Mouse House CEO Bob Iger is being compensated well. In 2018, his compensation was upped 80% and reached $65.6 million. Abigail Disney came forward and said that this paycheck is “insane.”
Disney spoke about this at the first annual Fast Company Impact Council last week. She was joined by Columbia University associate professor Howard W. Buffett and Coalition for Inclusive Capitalism founder and CEO Lady Lynn Forester de Rothschild. They discussed practicing “humane capitalism” and Disney unpacked her thoughts on Iger.
A study by Equilar said that Iger’s compensation was 1,424 times that of the median Disney employee. According to Fast Company, Disney said at the event: “I like Bob Iger. Let me be very clear: I think he’s a good man. But I think he’s allowing himself to go down a road that is the road everyone is going down.”
She continued, “When he got his bonus last year, I did the math, and I figured out that he could have given personally, out of pocket, a 15% raise to everyone who worked at Disneyland, and still walked away with $10 million. So there’s a point at which there’s just too much going around the top of the system into this class of people who–I’m sorry this is radical–have too much money. There is such a thing.”
Disney has been outspoken when it comes to social responsibility, and is also a member of the Patriotic Millionaires, which advocates for higher taxes on the wealthy. In a lengthy Twitter thread, she continued her thoughts about Iger’s pay and the pay disparities within the Disney system.
“Let me very clear. I like Bob Iger. I do NOT speak for my family but only for myself,” she wrote. “Other than owning shares (not that many) I have no more say in what happens there than anyone else. But by any objective measure a pay ratio over a thousand is insane.”
She adds, “To brush aside criticism of the low wage you pay workers at the company by saying you pay more than the Federal Minimum Wage and that you provide opportunities for education is a dodge. We all know the Federal Minimum is too low to live on. So why must we, at a company that’s more profitable than it’s ever been, be paying anything so close to least the law allows at all?”
Disney reiterates that Iger has done great things with the company, but questions why the company doesn’t shift profits to people other than those at the top. She goes on to unload a lot of information about salary and Disney. Read the tweets below.
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