This guy …
To say Disney has problems is an understatement. They have a mountain of them.
In 2023, Mickey Mouse & Co. cut over 8,000 jobs. At the box office, seven of their eight major theater releases were busts, which cost Disney over $400 million, according to OutKick. Disney+’s growth has reportedly stunted much faster than the projections from analysts, with subscriptions going straight down the toilet. Their sports giant, ESPN, is crumbling with each passing day, trying to sell equity of the company to the NFL as the brand continues to lose money. (RELATED: NFL And ESPN On Verge Of Massive Deal That Would Give The League A Stake Into The Four-Letter Network: REPORT)
It’s been a pretty horrendous year for Disney, so …
Can somebody please explain to me why CEO Bob Iger felt the need to give himself a raise of $31.6 million, as OutKick reported?
Featured in Iger’s money bag was (via an SEC statement filed Tuesday):
- $16.1 million in stock awards
- $10 million in stock-option awards
- $2.48 million in other compensation
- $2.14 million cash bonus
- $865,385 in base salary
And all for destroying a company. It must be nice.
Disney CEO Bob Iger’s pay hits $31.6M as Mouse House struggles to rebuild https://t.co/8Cmg6N9GHV pic.twitter.com/YI0zP0TFFQ
— New York Post (@nypost) January 17, 2024
It’s absolutely amazing to me how somebody can get a massive raise when their stock price looks like this:
Bob Iger’s compensation totaled $31.6 million, up from $15 million a year ago: WSJ
Only explanation is DIS Board is short the stock with lots of leveragehttps://t.co/SIs6CWMgMe pic.twitter.com/3AqQ6nEAkj
— zerohedge (@zerohedge) January 17, 2024
You even have hedge funds making fun of this nonsense.
Bob Iger just got paid $31mn. $DIS stock is down 9% over the past 12 months, massively underperforming the market.
Disney will not have ONE new movie or show debuting over the next 3 months. Zero. This company is a joke and so is the valuation.
— Blue Duck Capital Partners (@BlueDuckCap) January 17, 2024
What a joke.