If billionaire activist investor Nelson Peltz prevails in his fight for a seat on the board of the US entertainment giant, Disney
Elon Musk has promised to acquire stock in the company. In a post on the social media platform X, Mr. Musk stated that the manager of the hedge fund
Should be on the Disney board. Even though I don't currently own any Disney shares if Nelson were elected to the board, I would buy their shares," he continued.
Disney is stepping in for a reason. Wednesday night marks the end of a crucial vote about who sits on Disney's board.
Mr. Musk has strongly criticized the company and CEO Bob Iger's leadership ever since Disney chose to cease advertising on Twitter, now known as X.