Disney’s CEO Is Ditching His Company’s Stock And Buying Apple

Disney’s CEO Is Ditching His Company’s Stock And Buying Apple

“Bob Iger, you just cashed in $17.9 million worth of Disney stock, what are you going to do next?”

If you’re really into investing and the stock market and all that fun, heart-wrenching stuff, then now might be a great time to buy some Apple stock if you believe Disney’s CEO Bob Iger knows what he’s doing.

On Monday, Iger bought $1 million worth of Apple shares, according to documents filed with the SEC. Along with being the CEO of Disney, Iger is also on Apple’s board of Directors. But he’s not just buying Apple stock; he’s ditching his Disney stock while he’s at it.

Iger exercised a million options on his Disney stock last week and made a cool $17.9 million. Top level executives cash in on their options all the time at Fortune 500 companies, so Iger’s moves do not mean he doesn’t have faith in Disney, but it is interesting that he picked up so much Apple stock when it was on a downward slide.

A Disney spokesperson told Bloomberg that Iger is just “diversifying his investments and still has a very large portfolio of Disney stock.” When an insider buys stock on the open market, it’s usually considered a bullish sign. Considering the fact that Apple’s stock jumped up 7% this week, we think Iger made a great move.

  • technochick

    Thanks to the whole Pixar thing, Disney has a strong connection to Apple. Iger is showing that he isn’t buying the BS that, alongside a general slide in the markets, has driven Apple’s price down. Given that he’s on the Board it is a very dangerous move because it could come with an insider trading claim. Of course on the flip side the Board likely knows little to nothing about what’s coming up so any such legal claims will fail, but to the general public they don’t know that he doesn’t know (if they even know he’s on the board) so the CEO of a company of that size buying stock could have a major impact

  • RoyceMathew

    In regards to Robert Iger, Michael Eisner and the Walt Disney Company,

    I have documented with photo proof of certain Walt Disney Company employees (a public company) being involved with criminal and illegal acts, of which would include conspiracy and fraud among certain employees, with which to avoid being accountable, as they all continue to financially profit from these acts.

    Additionally, what the big picture is that the Walt Disney Company has become home to a group of individuals who act like a slick gang – aka “gangsters”, who would include Robert A. Iger, Michael D. Eisner, Sanford “Sandy” Litvack, Martin “Marty” Sklar, Jerry Bruckheimer, and their Disney associates Jason Surrell, Ted Elliott and Terry Rossio, who continue to profit from utilizing the company resources to commit criminal and illegal acts, while pretending that follow the law, while justifying that they answer to no one.

    I have repeatedly written electronic letters posted directly to the Walt Disney Company and its governing board of directors, however, they are either all ignored or the Walt Disney Company refuses to investigate. Furthermore, the Walt Disney Company publicly proclaims on their own website, that anyone can notify them of any criminal and illegal acts done by any of its employees – however, to date, the Walt Disney Company justifies ignoring the seriousness of this matter, by falsely declaring that it is related to previous legal proceedings over copyright, and that they will not address it whatsoever. Even when given and presented with photo proof documents, the Walt Disney Company ignores, refuses and justifies doing nothing. They continue to reward Jerry Bruckheimer, Marty Sklar, Ted Elliott, Terry Rossio and Jason Surrell. Thus to date, the Walt Disney Company, including Robert Iger, continues to profit from documented criminal and illegal acts without any fear of any ramifications.

    I welcome all interviews and investigations –

    Royce Mathew

    disneylawsuit (dot) com

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Buster HeinBuster Hein is Cult of Mac's Senior News Editor and lives in Phoenix, Arizona. Twitter: @bst3r.

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