The relationship between Apple and Disney strengthened under CEO Bob Iger. Photo: Tom Bricker/Flickr CC
Apple’s partnership with Disney goes back way further than the latter company’s recent decision to accept Apple Pay at Disney World. At the time of his death in 2011, Steve Jobs was the single biggest shareholder of Disney stock as a result of it acquiring his company, Pixar, in 2006.
Jobs got on particularly well with Disney CEO Bob Iger, who called Jobs in 2005 and asked if he could repair the damage that had been done to the Apple/Disney relationship under former Disney CEO Michael Eisner.
That relationship is examined in a new Fortune profile of Iger, which describes his six-year friendship with Jobs as the “relationship that has most shaped his thinking.”
Before his death in 2011, Steve Jobs was the biggest shareholder of Disney stock thanks to the fact that Disney acquired his company, Pixar, in 2006. But before Disney and Pixar merged together, things weren’t always so rosy between Steve and Disney.
Steve Jobs and Disney CEO Bob Iger eventually had a great relationship, but in the early days, Steve Jobs wasn’t afraid to release an atomic bomb of cruelty on Disney. He would even call Bob Iger on Saturdays just tell him that his films sucked.
“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.