Disney CEO Bob Iger's Salary Is 'Insane', Says Disney Heiress
Disney heiress Abigail Disney, the philanthropist granddaughter of Roy Disney (Walt’s brother) and a long-time opponent of excessive executive pay, says Disney CEO Bob Iger’s $65.6 million total compensation package is “insane.”
On Saturday, Disney tweeted, “Let me [be] very clear. I like Bob Iger. 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 criticized the gap between Iger’s pay and that of his employees at the Fast Company Impact Council. Iger’s pay was 1,424 times that of the median Disney employee, according to Equilar, a California-based firm that provides data-driven solutions for executive compensation.
It’s not the first time the Disney heiress, activist and philanthropist has criticized CEO pay. In March, Disney said in an interview on CNBC’s "Squawk Box" that executive salaries shouldn't be "700, 600, 500 times your median workers’ pay."
"If your CEO salary is at the 700, 600, 500 times your median workers’ pay, there is nobody on Earth, Jesus Christ himself isn’t worth 500 times his median workers’ pay."
Disney, 59, has put her money where her mouth is. She’s given away $70 million since she turned 21. She said if it were up to her, “I would pass a law against private jets, because they enable you to get around a certain reality.”
Along with around 200 other millionaires living in New York, Disney asked lawmakers in the U.S. Congress to introduce a "millionaires' tax" on households earning more than $5 million. The money from this tax will help fund affordable housing, infrastructure and other initiatives.
Disney still thinks corporate America is being paid too much. She proposes the U.S. make structural changes to the economy by taxing the wealthy more.
"The problem is that there's a systematic favoring of people who have accumulated an enormous amount of wealth," she said.
Disney declined to say what a fair tax would be for millionaires. She did say there must be more conversations about what is fair and how to rectify the inequality between the working class and the super rich.
"I think that the top rate right now is as low as it's ever been," said Disney. "And if I'm paying a lower effective rate than my assistant is, something is fundamentally not right."
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