For Walt Disney Chief Executive Bob Iger, action speaks louder than words. During the Magic Kingdom’s annual shareholder meeting on Monday, Iger took a shot at Florida Governor Ron DeSantis, calling him “anti-business” for his retaliation involving Disney World. DeSantis, for those keeping score, signed a law in February that gives Florida control of Disney’s theme park district, stripping some of its autonomy. Disney had opposed Florida’s Parental Rights in Education Act.
at Florida Governor Ron DeSantis, calling him “anti-business” for his retaliation involving Disney World. DeSantis, for those keeping score, signed a law in February that gives Florida control of Disney’s theme park district, stripping some of its autonomy. Disney had opposed Florida’s Parental Rights in Education Act.
The irony is that Iger plans to shower Florida with $17 billion over the next 10 years, he said at the meeting. That represents over 20% of the company’s capital expenditures over the past decade. Additionally, the company wants to create 13,000 jobs, boosting Disney’s tally of Florida employees by 17%.
Iger could have taken a different approach – threatening to move parts of its business outside of DeSantis’s jurisdiction. That realistically is difficult, but nonsensical threats are often used when it comes to thorny but co-dependent government and corporate relationships. Iger’s decision to plow more money into Florida only tethers him more to DeSantis’ whims.
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