Economically speaking, it has been a challenging year for many people, including the Walt Disney Company.
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.
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.
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.
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Have you visited the parks since they reopened? Let us know in the comments!