President-elect Donald Trump recently praised former Marvel Entertainment chairman Ike Perlmutter for divesting from Disney, criticizing the company’s “woke” direction. At a Mar-a-Lago event, Trump remarked, “The guy went from stone-cold broke to owning Disney. Then he got out of Disney because they went woke. He didn’t want woke Donald Duck, right?”
President Donald Trump being sworn in on January 20, 2017 at the U.S. Capitol building in Washington, D.C. Melania Trump wears a sky-blue cashmere Ralph Lauren ensemble. He holds his left hand on two versions of the Bible, one childhood Bible given to him by his mother, along with Abraham Lincoln’s Bible. Photo Credit: The White House, Public domain, via Wikimedia Commons
Perlmutter, an Israeli-born entrepreneur who began his U.S. business career with $250, sold Marvel Entertainment to Disney in 2009.
In 2023, Disney CEO Bob Iger ousted the then 80-year-old Perlmutter as part of cost-cutting measures that included absorbing his division into other units and eliminating 7,000 jobs. Following his departure, Perlmutter sold his entire stake in Disney—approximately 25.6 million shares—for nearly $3 billion.
Nelson Peltz via CNBC
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Known for his clashes with Iger, Perlmutter had previously attempted to influence Disney’s direction by supporting his friend, activist investor Nelson Peltz, in a bid to join Disney’s board. Peltz launched a proxy battle, advocating for cost reductions and a revamp of Disney’s streaming business.
Critics, including the conservative nonprofit America First Legal, have accused Disney of adopting a “woke agenda,” alleging that it has negatively impacted the company’s financial performance and shifted away from traditional family-friendly content.
Perlmutter’s tenure at Disney was marked by significant influence and controversy. In 2015, he reportedly clashed with Marvel Studios chief Kevin Feige, whom he wanted to fire—a move that was blocked by Iger. This led to a reorganization that reduced Perlmutter’s control over Marvel’s film and television divisions.
LAS VEGAS, NEVADA – APRIL 11: Kevin Feige, President, Marvel Studios speaks onstage during the Walt Disney Studios presentation at Cinemacon in Las Vegas, Nevada on April 11, 2024. (Photo by Jesse Grant/Getty Images for Disney)
Beyond his corporate endeavors, Perlmutter has been a significant political donor and advisor. He and his wife, Laura, have been substantial contributors to Republican causes, including a $1 million donation to a Trump-related veterans’ charity event in 2016. Perlmutter has also served as an informal advisor to Trump on veterans’ affairs, reflecting a longstanding personal relationship between the two.
Perlmutter’s departure from Disney and his alignment with Trump’s criticism of the company’s direction highlight ongoing debates about the influence of corporate culture and political ideology in the entertainment industry.
Do you think Marvel would be better off with Ike Perlmutter running it? Are you happy President Trump publicly praised Perlmutter? Sound off in the comments and let us know!
Not even Perlmutter could save Disney after Iger’s tenure. If he’d been the one to take over before Bob was installed, then maybe he could have saved them. Right now the company’s on the precipice of total financial ruin and absolutely nothing will stop their collapse. Years of horrific decisions have come home to roost and at the worst possible time for them since they’re facing competition for their theme parks that they literally can’t match.
They’re out of time and soon enough they’ll be out of money thanks to some of the worst leadership in the business world. Given the CEO of Allstate blamed Americans for the terrorist attack in New Orleans in a Sugar Bowl ad and UHC having open season on their execs declared, that’s an amazing feat.