Abigail Disney Criticises Chief’s “Insane” $65.7m Pay
Abigail Disney has accused the entertainment company her grandfather co-founded of contributing to widening economic inequality by paying its chief executive an “insane” $65.7m last year.
In a 1,000-word string of tweets on Sunday, expanding on remarks she had made at a conference, the heiress and documentary film-maker argued that such levels of executive pay were having “a corrosive effect on society”.
Bob Iger had led Walt Disney “brilliantly” since becoming CEO in 2005, she said, but the gap between his pay and that of the company’s lowest-paid workers “so violates [our] innate sense of fairness it is impossible not to wince“.
Her perspective had been informed, she said, by speaking to employees earning the company’s $15 minimum hourly wage at its Disneyland theme park in California, some of whom are struggling to pay medical bills. Mr Iger could have given each Disneyland employee a 15 per cent raise “and still walked away with $10m”, she argued.
Vocabulary:
accused – blamed someone publicly for doing something wrong, improper, or unfair, “The customer accused the store manager of overcharging her for the items.”
contributing to – helping to cause or add to a specific situation, “Lack of sleep can be a major factor contributing to high stress levels.”
widening economic inequality – a growing, unfair gap between the rich and the poor regarding income and wealth, “Many experts worry that tax cuts for billionaires will lead to widening economic inequality.”
string of tweets – a connected series of short public messages posted on the social media platform X (formerly Twitter), “The author published a string of tweets to explain the inspiration behind her new book.”
expanding on remarks – adding more details, context, or explanations to something you previously stated briefly, “During the interview, the director spent time expanding on remarks he made at the film premiere.”
heiress – a woman who inherits or is legally entitled to a massive amount of wealth or a large company from her family, “As the heiress to a major shipping company, she spent her life learning the family business.”
corrosive effect – a harmful, toxic influence that gradually weakens or destroys a situation over time, “Constant micromanagement can have a corrosive effect on employee morale.”
innate sense of fairness – a natural, deep-seated feeling of justice and right versus wrong that a person is born with, “Even young toddlers seem to have an innate sense of fairness when it comes to sharing treats.”
impossible not to wince – unable to stop yourself from making a pained expression because something is so uncomfortable, shocking, or embarrassing, “Watching him drop the expensive wedding cake made it impossible not to wince.”
perspective had been informed – a viewpoint or opinion that was shaped and deeply influenced by specific facts, data, or personal experiences, “His perspective had been informed by the ten years he spent working as a frontline nurse.”
walked away with – left a situation or deal possessing a specific amount of money, a prize, or an advantage, “After a tough round of negotiations, the contractor walked away with a highly profitable deal.”