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In December, it was revealed that Iger’s salary was up 80 percent in the company’s most recent fiscal year to $65.6 million. He had earned $36.3 million in 2017 and $43.9 million the year before that.
Abigail Disney called Iger’s pay “insane” while speaking on a panel about “humane capitalism” at the first annual Fast Company Impact Council last week, as quoted by Fast Company.
“I like Bob Iger. Let me be very clear: I think he’s a good man. But I think he’s allowing himself to go down a road that is the road everyone is going down,” she said. “When he got his bonus last year, I did the math, and I figured out that he could have given personally, out of pocket, a 15 percent raise to everyone who worked at Disneyland, and still walked away with $10 million. So there’s a point at which there’s just too much going around the top of the system into this class of people who — I’m sorry this is radical — have too much money. There is such a thing.”
Her comments was made on the heels of an Equilar report noting that Iger’s pay is about 1,424 times that of the median pay for a Disney employee, which was pegged at $59,434.
Abigail Disney argued that a salary at that level has “had a corrosive effect on society” and noted that she’s had conversations with Disneyland employees who’ve told her they are struggling to pay for medicine and other needs and have seen a reduction in their benefits.
On Sunday morning, she took to Twitter to double down on her remarks: “Let me 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.”
A Disney rep told The Hollywood Reporter that the company has a starting hourly wage of $15 an hour at Disneyland, which is double the federal minimum wage, and committed up to $150 million for an education initiative that allows hourly employees the opportunity to earn a college or vocational degree tuition-free.
The rep added, “Mr. Iger’s compensation is 90% performance-based and he has delivered exceptional value for shareholders: Disney’s market capitalization has grown exponentially over the last decade, rising $75 billion in the last month alone, and the stock price has increased to $132 a share from $24 a share when Mr. Iger became CEO in 2005—all of which directly benefits literally thousands of employees who hold our stock.”
12:55 p.m. This story has been updated to attribute Disney’s statement to The Hollywood Reporter.
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