Abigail Disney Has More to Say About Bob Igers “Insane” Salary
Abigail Disney has more to say about the spending practices of the massive company once run by her grandfather Roy Disney. On Thursday, Disney made waves by calling Disney C.E.O. Bob Igers new $65.6 million salary “insane” at a Fast Company event—further explaining that while she thinks Iger is a “good man,” she has personally met with several Disneyland employees who are struggling to make ends meet.
On Sunday, Disney expanded her thoughts on this topic in a lengthy Twitter thread, arguing that the company should use that mint to increase wages for thousands of employees.
“Let me [be] very clear. I like Bob Iger,” she began. “I do NOT speak for my family but only for myself. 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.”
Disney continued, noting, “there are just over 200K employees at Disney. If you took half that 65 M bonus, along with half the very generous bonuses everyone else up in the C suites got, I am quite certain you could move significant resources down the line to more evenly share in the great success.”
Disneys argument unfolded over 22 tweets total, in which she defended janitorial workers whose salaries could be boosted if higher-level employees, such as Iger, took cuts.
“What difference would it make in the quality of life for those that gave up half their bonus?” she wrote. “None. Zero. Maybe they cant afford a third home. Or another boat. Im not being facetious here. Thats the kind of sacrifice wed be talking about for high level execs. At the 65M dollar bonus range we are talking about something ridiculous,” she wrote. “If you send your kid to an expensive school and we cut your bonus in half, gosh youd give up 740 years of her education. 7.5 $5M yachts you cant buy. 3.5 $10M jets.”
Disney has been transparent in the past about how wealthy she is as a result of inheriting her family fortune. Shes become an advocate for responsible corporate spending, joining Patriotic Millionaires, a group that advocates for higher taxes on the rich. In a 2017 video for NowThis, she broke down exactly why she was opposed to the G.O.P. tax bill, despite the fact that it would benefit her enormously. In a more recent interview with New York magazine, she explained why she is ethically opposed to luxuries like private jets and revealed that shes personally given away around $70 million in the last three decades.
In a statement to Fast Company, a Disney spokesperson responded to Abigails comments about Igers salary, explaining that his raise was tied to Disneys recent $71.3 billion acquisition of 21st Century Fox.
“Disney has made historic investments to expand the earning potential and upward mobility of our workers,” the statement read, “implementing a starting hourly wage of $15 at Disneyland thats double the federal minimum wage, and committing up to $150 million for a groundbreaking education initiative that gives our hourly employees the opportunity to obtain a college or vocational degree completely free of charge.”