“There’s a Structural Rot Inside of Disney” – South Carolina State Treasurer Pulls $105M in Disney Investments

Disney4me · December 13, 2023

The Disney company has been making headlines a lot lately.

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Bob Iger, Disney’s CEO, has been in the news for comments on Disney’s “Woke” agenda and his exit as CEO in 2026. There are also the public comments that Elon Musk, CEO of X/Twitter, has made about Bob Iger, like, “He should be fired immediately.” Now, Disney is losing $105 Million from an investor.

According to Fox Business, South Carolina’s State Treasurer, Curtis Loftis, says the state’s $105 million in Disney debt securities will not be renewed upon maturity. In an interview with Fox Business, Loftis says, “I think it’s clear to anybody paying attention that there’s a structural rot inside of Disney. It’s deep, it’s pervasive, and I suspect Bob Iger, since his return as the CEO, now realizes it can’t be fixed.”

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The largest issue, according to Loftis, however, lies not in the policies themselves but in the individuals at the helm of the company. “The sane, sober, talented, mature people are gone, and now you have the gender studies crowd running Disney,” he explained. “That’s why their movies are flops, and their market cap, I think, is about half what it used to be. It’s a tremendous loss to America; we all grew up on Disney.“

©Reuters | Disney CEO Bob Iger

So, how is the company financially doing right now? On November 8th, 2023, Disney held its fourth-quarter earnings call, which also included a look at the full fiscal year. At this earnings call, Disney shared some insight into all the financial happenings within the company. Overall, the Disney company reported the following results for Q4 of FY23 and for the fiscal year in general. Revenues for the quarter grew 5% and 7% compared to the prior year quarter and prior year, respectively. Bob Iger even went as far as to say that the future for shareholders is bright.

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Disney shares trade at $92.56 apiece, reflecting a nearly 4% rise year to date. However, the stock is still down over 50% from its all-time high of $201.91 recorded in March 2021. While Loftis acknowledges the pull of investment won’t hurt the company, he states that it is about principle. “We’re not going to cause Disney any real harm,” he said, “I just want other people to see that you can stand up to these people and you live to invest another day. There are plenty of good investments out there that aren’t as risky as Disney.”