Billionaire entrepreneur Elon Musk has set his sights on acquiring shares of The Walt Disney Company, expressing his intent to do so under specific conditions. Musk, who recently assumed the role of Disney’s Chief Diversity Officer, revealed his interest in purchasing Disney shares contingent upon the election of activist investor Nelson Peltz to the company’s board.
The announcement comes in the wake of Nelson Peltz’s unsuccessful bid for a seat on Disney’s board, with the majority of stakeholders voting against his nomination. Despite the setback, Musk remains steadfast in his support for Peltz, citing the investor’s proven track record and potential to drive positive change within the company.
In a statement shared on his social media platform, Musk emphasized Peltz’s qualifications and the value he believes the investor would bring to Disney’s board. “Nelson Peltz should definitely be on the Disney board! He would help reform the company, improve the quality of product and generally serve in the best interests of shareholders, as he has done at many other companies,” Musk wrote.
Musk’s endorsement of Peltz underscores his belief in the investor’s ability to enact meaningful reforms and enhance shareholder value at Disney. The entrepreneur went on to highlight the potential positive impact on Disney’s share price with Peltz’s appointment to the board, expressing his willingness to invest in Disney shares should the activist investor join the company’s leadership ranks.
“While I don’t own any Disney shares today, I would definitely buy their shares if Nelson were elected to the board. His track record is excellent,” Musk affirmed.