What Did Bob Iger Just Say about Ron DeSantis???
During the 2023 Shareholder Meeting, Bob Iger, the CEO of The Walt Disney Company, made comments that have already become national headlines.
You’ve likely read clickbait titles about what just happened. They’re not painting an accurate picture, though.
Verbatim, here is what Bob Iger just said about the Governor of Florida and the Central Florida Tourism Oversight District.
The Question
“Hi, Bob, and again I reiterate, ‘Welcome back.’ As a financial advisor here in Melbourne, Florida, only about an hour from Walt Disney World, what steps have already been taken or will be taken to protect shareholder value with regard to the legal battle between Disney and Ron DeSantis and the Reedy Creek Improvement District…my son lives in Orlando, and he’s worried about his taxes.”
Bob Iger’s Reply about Ron DeSantis
“Alan, let me, if you don’t mind, let me address this issue which I haven’t really done much publicly, but I’d love the opportunity just to put it all in perspective.
First of all, I know you…you said you were a resident, I think, of Melbourne, Florida.
We love the state of Florida. And I think that’s reflected in not only how much we’ve invested over the last 50 years, but how much we’ve given back in the form of jobs and community service, and taxes, which you brought up.
There’s tourism, of course, and all sorts of other responsible business practices. We’ve also always respected and appreciated what the state has done for us. It’s kind of been a two-way street.
But a year ago, the company took a position on ending Florida legislation. And while the company may not have handled the position it took very well, the company has a right to freedom of speech just like individuals do.
And, obviously, in taking the position, the governor got very angry about the position Disney took.
And it seems like he’s decided to retaliate against us, including the naming of a new board to oversee the property and the business.
In effect, to seek to punish a company for its exercise of a constitutional right. And that just seems really wrong to me, against any company or individual, but particularly against the company that means so much to the state that you live in.
You can put that in perspective. We have over 75,000 employees, which I noted in my opening. Countless thousands of indirect jobs have been created.
About 50 million visitors will go through our gates this year alone. about eight million of them from outside the U.S.
And we are the largest taxpayer in the state. And you may find this interesting as it relates to future taxes, but we’re currently planning now to invest over $17 billion in Walt Disney World over the next ten years.
And those investments, we estimate, will create 13,000 new Disney jobs and thousands of other indirect jobs. And they’ll also attract more people to the state and generate more taxes.
And so, our point on this is any action that thwarts those efforts, simply to retaliate for a position the company took, sounds not just anti-business but it sounds anti-Florida, and I’ll just leave it at that.”
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