Elon Musk states condition for buying Disney

Billionaire entrepreneur Elon Musk has expressed a keen interest in acquiring shares of The Walt Disney Company, a renowned American multinational mass media and entertainment conglomerate, commonly known as Disney. However, he specified that he would pursue this investment only if activist investor Nelson Peltz secured a seat on Disney’s board.

Peltz had previously contested a challenge to Disney’s board, but the majority of stakeholders voted against his appointment. Musk, who was recently designated as Disney’s Chief Diversity Officer, endorsed Peltz, stating his belief in Peltz’s potential contributions to the company based on his impressive track record.

Using his X handle, Musk stated, “Nelson Peltz should definitely be on the Disney board! He would help reform the company, enhance the quality of its products, and generally act in the best interests of shareholders, as he has successfully done in numerous other companies.”

Musk added that having Peltz on Disney’s board would likely result in a significant improvement in Disney’s share price. While Musk does not currently hold any Disney shares, he expressed a willingness to purchase them if Peltz were elected to the board, citing Peltz’s outstanding track record in corporate governance and investment.