Economically speaking, it has been a challenging year for many people, including the Walt Disney Company.
©CNBC
With the theme parks closed for several months, the company took a hard hit financially, eventually resulting in the layoffs of thousands of employees and temporary pay cuts for Disney’s executives. We received more insight on how this affected the company later in 2020 when Disney reported a $2.8 billion loss for the year during their Q4 earnings call. Today we have more information about Disney’s financials for last year, including how much their top executives were actually paid.
In 2020, Disney executives Bob Iger and Bob Chapek were paid a combined total of $35 million. Iger, who is currently the company’s executive chairman after stepping down as CEO last year, had the higher salary of the two, bringing in $21 million according to Los Angeles Times. That’s a 56% pay cut from Iger’s salary during his final year as CEO, during which he made $47.5 million.
©Alberto E. Rodriguez / Getty Images
During his first year as CEO of the Walt Disney Company, Bob Chapek brought home $14.2 million. Both executives, as well as several others, went without any bonuses last year. Back in March, it was announced that Iger would forgo his entire salary and Chapek would be taking a 50% pay cut. These cuts only affected their base salaries and the pay cuts were lifted in August of last year.
©Disney
Stay tuned to DFB as we get more information on the state of Disney’s financial situation and share the news with our readers. We’ll be looking forward to hearing more from the next quarterly earnings call in February.
Read Here: Disney to Spend $1 Billion in Health and Safety Measures in 2021
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Their salaries are disgusting. So many people in this country are out of work. Disney keeps taking things away from its guests and raising prices. Is it really necessary for these people to be making all this money? They could take pay cuts and still live their posh lifestyle and give a break to their guests. They could also donate a lot of that salary to people who really need it. I love Disney but these executives need to take a reality check!
I’m glad to see that this is not why the hourly emplyees haven’t been brought back. .. He says sarcastically..
With the Parks closing and so many cast members being laid off, those salaries are outrageous. They should have taken a even bigger salary cut and laid off less cast members. They’ve cut so much Disney Magic from the Parks and now even the Magical Express is going. No executive is worth that much anyway.
Just curious if they will take as long in refurbishing the Hall of Presidents to put Biden in there as they did with President Trump. I know thru say thst was a major refurbishment, but it was well over a year. I say lets end it now along with many others. Im a lover of Disney but their top Executives make it so obvious where they stand politically and speak for the entire corp and its cast members. Lets keep Disney The Happiest Place Earth …Walt’s dream and keep our political views out of it. Thank you !
Disney is all about greed nowadays, it’s sad. That’s an embarrassing salary as Disney continues to cheapen everything for the consumer. Food in the parks is continually going downhill. Merchandise falls apart almost immediately. Clothing is ok but Wayyy overpriced! Wait staff has gone way down hill also. Disney used to take care of their servers gratuity but not anymore. Servers are making far less than ever before and it shows in attitude( not all servers I might add). Walt would be so sad at the greed and downright selfishness of the Disney Company.
I think Walt Disney would be appalled. He dreamed and built a park for normal families to enjoy. Prices are so high it is becoming impossible. Like I said in an early post, $ 2.49 for a single banana.
So that is why visitors pay exorbitant prices to stay at Disney Resorts and get nickel and dimmed for every extra. Also that is why you pay your help almost below minimum wages. I would expect Walt Disney to get up from his grave and Slap you silly. What a disgrace you are.
M
Hi, Rose! You’re right that the refurb in 2017 was lengthy. The attraction closed on January 17, 2017, and reopened December 19, 2017 — so just over 11 months. Prior to that reopening, Disney Parks Blog said the update was for “a new show, and a complete theater upgrade including a new sound system, lighting and high-definition projection system. The multi-screen viewing experience you may have seen in prior versions of the attraction is returning with an even wider vantage point of our country’s history.”
Greedy! Greedy! Greedy! These executives should hang their heads in shame! So many Cast Members out of work and it’s ok to take home that kind of salary?? Walt should haunt you for the rest of your days!