The spotlight on Disney CEO Bob Iger’s salary is part of a larger conversation around pay inequality that’s been taking place across the U.S., as the gap between the super wealthy and the country’s poorest has grown wider by MadelinePBerg
estimates that his fortune is split nearly evenly between Disney shares, which typically make up a good deal of his compensation and bonuses, and cash or other investments from sales of Disney shares over the decades. Since he has worked at the company since 1996, all of this has added up.
He’s been well compensated since becoming CEO in 2005. During Iger’s first full year as CEO, he made , not including $2.9 million worth of stock options. Last year his salary was $39.3 million —still more than 850 times the median annual pay of a Disney worker. Iger was awarded another $26.3 million in stock after he agreed to stay on as Disney CEO through 2021 and because he closed the $71.3 billion Disney-Fox mega merger in March of this year.
Since Iger took the reins of the company in October 2005, Disney’s stock price has risen nearly five-fold, from $24 to a high of $142, in large part thanks to his savvy decisions. Iger made ABC and Disney shows available on streaming platforms before rivals NBC and CBS did. Between , Disney has record after record at the box office thanks to the acquisitions of Marvel and Lucasfilm.
The company clapped back at Abigail Disney’s Twitter tirade, saying that the starting hourly wage at Disneyland is $15—double the federal minimum wage—and that the company makes investments in the college and vocational education of its employees. After the tax reform bill passed, lowering its corporate tax bill, Disney paid 125,000 employees a one-time $1,000 bonus last year .
The spotlight on Iger’s salary is part of a larger conversation around pay inequality that’s been taking place in the U.S. as the gap between the super-wealthy and the country’s poorest has grown wider. Iger is not alone in received outsize pay: 13 public company CEOs make the pay of the typical employee at his or her company, according to a report from MyLogIQ, including Starbucks CEO Kevin Johnson and Coca Cola CEO James Quincey.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Disney could do something ‘truly heroic’ with its ‘Avengers: Endgame’ windfall, says Bernie Sanders“Avengers: Endgame” is coming off a record-smashing opening weekend, ringing up $350 million in ticket sales domestically and $1.2 billion globally. Time to...
Read more »
Bob Iger Rebuilt The Magic Kingdom—And It’s Likely Made Him Richer Than A Disney HeirIger has been richly rewarded: On top of one of the fattest CEO pay packages in the U.S., he is also sitting on hundreds of millions of dollars of Disney stock, enough to make him worth nearly $700 million .
Read more »
BP is not on the hunt for US oil and gas deals, says CEO Bob DudleyA battle between Chevron and Occidental Petroleum for Anadarko Petroleum is fueling speculation about more U.S. oil and gas deal-making.
Read more »
Legendary journalist Bob Woodward said Trump couldn't have coordinated with Russia because he's way too disorganized'So many people in our business expected there to be some secret, inner sanctum meeting or tape recording showing coordination with Russia,' Woodward said. 'And you know, Mueller found none.'
Read more »
Does Universal Basic Income Work? This Hedge Fund Boss Wants to Find OutBob Jain’s family institute is seeking to settle a hot debate in policy circles as the left and right grapple with the economic consequences of inequality
Read more »
New Intel CEO rips the band-aid offIntel Corp.’s new chief executive officer Bob Swan pulled the band-aid off on some of chip giant’s issues this quarter, hoping to solve them in one swoop,...
Read more »
Trump could deal the oil market a major wildcard this week, says BP CEO Bob DudleyDudley says new U.S. measures to drive Iran's oil exports to zero are responsible for sending oil prices to nearly six-month highs.
Read more »
Analysis | Here is the Bob Baffert horse that will win the Kentucky DerbyThis year’s Run for the Roses is gearing up to be one of the most wide-open in recent memory.
Read more »
Sen. Bernie Sanders rips CEO Bob Iger's pay and urges Disney to use 'Avengers: Endgame' profit to give employees raisesSen. Bernie Sanders took to Twitter on Monday to criticize CEO Bob Iger's salary and suggest that Disney should use its massive 'Avengers: Endgame' box-office haul to give its employees raises.
Read more »
Disney is in talks with Comcast to buy all of Hulu, CNBC saysWalt Disney Co. is in talks to acquire the 30% stake in Hulu held by Comcast Corp., a deal that would hand over complete control of the video-streaming service.
Read more »