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March 9, 2019, 11:45 a.m. EST

Disney heiress: Jesus Christ himself doesn’t deserve this much money

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By Shawn Langlois, MarketWatch


MarketWatch photo illustration/Everett Collection, iStockphoto
Too much?

Abigail Disney, the wealthy granddaughter of Walt Disney Co. /zigman2/quotes/203410047/composite DIS +0.38% co-founder Roy Disney, has long been critical of fat executive paychecks.

On Thursday, she put it like this:

‘If your CEO salary is at the 700, 600, 500 times your median worker’s pay, there is nobody on Earth ... Jesus Christ himself isn’t worth 500 times his median worker’s pay.’

That’s how she responded when asked during a CNBC interview on Thursday whether Disney CEO Bob Iger is overpaid.

According to a securities filing earlier this week, Iger agreed to a new deal that cut his max potential annual pay by $13.5 million. He was awarded $65.6 million for his performance last fiscal year.

“We don’t have a society structured around fairness right now,” Disney continued. “The problem is that there’s a systematic favoring of people who have accumulated an enormous amount of wealth.”

For her part, Disney signed a letter with about 200 other New York elites asking lawmakers to introduce a “millionaires tax” on those earning more than $5 million to help fund affordable housing, infrastructure and other initiatives.

Don’t miss: Disney sets opening dates for its new ‘Star Wars’ attractions

But when she was asked by CNBC’s Joe Kernen why she doesn’t just write a check to help the inequality, things got a bit tense on the set.

“It’s ridiculous to say that,” Disney responded. “My measly few hundred million dollars will do nothing to address the roads, infrastructure, schools, hospitals.”

Watch the full interview:

/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 136.31
+0.51 +0.38%
Volume: 4.76M
Sept. 17, 2019 6:30p
P/E Ratio
17.19
Dividend Yield
1.29%
Market Cap
$244.63 billion
Rev. per Employee
$295,532
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Shawn Langlois is an editor and writer for MarketWatch in Los Angeles. Follow him on Twitter @slangwise.

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