Sally Reed
Nelson Peltz, the 81-year-old billionaire investor and activist has waged a public war against the media behemoth, Disney. Peltz has criticized Disney for its use of all-female and all-black casts. Peltz currently owns a stake in Disney that has been stipulated to be worth around $3.5bn.
Peltz agrees with Elon Musk’s accusations that Disney has become a tad too woke for its own good.
Fight for Seats on the Disney Board of Directors
Media outlets have been reporting on the war going on at Disney for seats on the Board of Directors. The media giant’s annual shareholders meeting is scheduled to take place on April 3.
On April 3, investors will be casting their votes to determine who will be getting seats on Disney’s Board of Directors.
Peltz is Fighting for His Seat
Peltz has been fighting for his seat on the Board of Directors. Earlier this month, Peltz had singled out two members of the Board of Directors who he believes should be immediately removed and replaced.
There is certainly a fierce battle going on right now for seats on the Board of Directors.
Musk Had Threatened to Purchase Disney
Last month, Musk had threatened to buy “woke” Disney. Media outlets reported that Musk’s made the threat a few hours after being spotted with Peltz.
Criticizing Disney for its policies, Musk posted on X, “An anonymous source just sent me this from Disney. It is mandatory, institutionalized racism and sexism!”
Musk Offered Legal Support to Those Who Has Been Discriminated Against
Musk has vowed to provide legal support to anyone who has been discriminated against by Disney.
Peltz Wrote on X, “If you were discriminated against by Disney or its subsidiaries (ABC, ESPN, Marvel, etc), just reply to this post to receive legal support.”
Disney’s Alleged “Woke” Agenda
Disney’s alleged “woke” agenda has been a subject of heated public debate. Peltz’s stand on the subject has further fuelled the debate against the company.
Peltz said, “People go to watch a movie or a show to be entertained. They don’t go to get a message.”
Peltz Criticizes Disney’s Portrayal of Females and Black Superhero Characters
Peltz, whose daughter Nicola is married to Brooklyn Beckham, criticized recent blockbusters like Black Panther and The Marvels for their portrayal of females and black superhero characters.
In a Financial times interview, the billionaire said, “Why do I have to have a Marvel that’s all women? Not that I have anything against women, but why do I have to do that? Why can’t I have Marvels that are both? Why do I need an all-black cast?”
Disney Has Been Trying to Be Portray More Diverse Characters
In the recent years, Disney has been attempting to portray characters hailing from more diverse backgrounds. Previously, the company’s casting was dominated by mostly Caucasian characters.
This has led to the company updating many of its classic fairytales like Snow White and Cinderella to resonate with the contemporary era.
Disney Receives Flak
Disney has received a lot of flak for the changes it has been making to character portrayals. The company has been criticized for focusing heavily on political activism over prioritizing its audience’s interests and preferences.
The media giant is known for its blockbuster hits. Yet, several Disney movies have had underwhelming box office openings lately.
Peltz is Concerned Because of Disney’s Underwhelming Box Office Openings
The Marvels suffered the poorest box office debut in the history of the franchise upon its release last year.
Peltz cites this underwhelming performance as an important reason for his activist stance and campaign.
Peltz Wants Seats for Himself and for Jay Rasulo
Peltz currently owns shares in Disney through his investment firm, Trian Fund Management. Peltz is now aiming for seats on Disney’s Board of Directors for himself and for Disney’s former finance chief, Jay Rasulo.
Peltz recently acquired the support of Institutional Shareholder – a highly influential advisory group. The group has recommended Disney’s investors to cast their vote in Peltz’s favor so he can be added to the Board of Directors.
Peltz Doesn’t Intend to Oust CEO Bob Iger
Despite Peltz’s scathing criticism of the Disney management team, he says he has no intention of ousting Disney’s CEO Bob Iger.
Peltz said, “Disney is stupid because I’m not trying to fire Bob Iger, I want to help him. We don’t fire CEOs.”
Disney Spokesperson Shares Opinion
On the subject of Peltz’s criticism of Disney’s recent character portrayals, a Disney spokesperson said, “This is exactly why Nelson Peltz shouldn’t be anywhere near a creatively driven company.”
In his autobiography, “The Ride of a Lifetime,’ Iger shared how he has been pushing to diversify the Marvel movies which previously centered almost entirely around white male characters.
Peltz the “Bully Billionaire”
Peltz often finds himself at the center of controversies. A while back, Peltz was in the news for a countersuit by the wedding planners who were supposed to oversee his daughter’s wedding. Peltz fired them nine days after hiring them. He also sued them for failing to return his $159,000 deposit.
In the countersuit filed by the wedding planners, they referred to Peltz as a “billionaire bully.” They also accused Peltz and his family for making unreasonable demands on unrealistically short notices.
Peltz Doesn’t Mind Being Called a Bully
Peltz doesn’t take offense at being called a bully. He said to the Financial Times, “What sense is being a billionaire if you’re not a bully?”
Referring to the dispute with the wedding planners, Peltz said, “They got a great deal for doing nothing. But that’s water under the bridge.”
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