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President-elect Donald Trump lauded former Marvel Entertainment chief Ike Perlmutter for departing from Disney and liquidating his extensive stake in the alleged “overly-progressive” Mouse House.
Trump Commends Perlmutter’s Move at Mar-a-Lago Event
At a Monday gathering at Mar-a-Lago in Palm Beach, Florida, Trump commended Perlmutter before his supporters: “The fellow went from penniless to owning Disney.”
“Then he left Disney because they adopted progressive attitudes,” he added, referring to the former executive, who was present at the event. “He didn’t want a woke Donald Duck, did he?”
Executive Departure from Disney
Disney CEO Bob Chapek removed the then 80-year-old Perlmutter in 2023. His division — separate from Marvel Studios — was merged into other company units as part of cost-saving initiatives.
Perlmutter’s Financial Success and Recent Sales
The billionaire, who sold Marvel Entertainment to Disney in 2009 and was known for his longstanding disagreements with Chapek, sold all his shares — approximately 25.6 million — for nearly $3 billion earlier this year.
Criticism of Disney’s “Progressive Agenda”
Over the past three years, critics including the conservative organization American First Legal have criticized Disney for its “progressive agenda.” They assert that this agenda has hurt the company financially and shifted family-oriented content to “anti-police and anti-white themes”.
Perlmutter’s Background and Proposed Board Member
Born in Israel, Perlmutter made his fortune in the toy business, openly stating he began with just $250 in his pocket.
Perlmutter had advocated for friend and activist investor Nelson Peltz to join Disney’s board. When Peltz faced difficulties he orchestrated a power struggle to secure a seat, promising to reduce expenses, revamp the streaming services, and mend the company’s succession planning problems.
The Investor’s Departure and Disney’s Restructuring
Peltz abandoned this effort in February 2023, when Chapek assumed control of Disney, laying out plans to redesign, cut expenses, and likely reinstate Disney’s dividends.
The Impact of Cost-Cutting
This decision put Perlmutter’s future in jeopardy before the layoffs, which included terminating 7,000 roles. Perlmutter’s influence at Disney had been waning in recent years.
Conflict with Marvel Studios Chief
In 2015, Perlmutter clashed with Marvel Studios head Kevin Feige. According to Chapek, Perlmutter pushed for Feige’s removal.. Chapek intervened, which reportedly infuriated Perlmutter.
Divisonal Reorganizations and Reduced Involvement
Shortly thereafter, Feige restructured Marvel Studios, consolidating the film division under his leadership and placing Perlmutter in charge of television. Perlmutter later lost oversight of Marvel TV shows in 2019, and the extent of his responsibilities narrow to operations like comic publishing and select consumer products.
Perlmutter’s Legacy at Marvel
Although Perlmutter’s involvement in Marvel films ceased in 2015, he significantly helped broaden the company’s merchandising by licensing properties. Currently, these properties include “X-Men” and “Spider-Man,” to movie studios.