The Walt Disney Company has been experiencing a very humbling year. Its stock price has fallen, theme park attendance still hasn’t quite reached pre-pandemic levels, the new movies aren’t performing at the box office, and the company has laid off over 7,000 employees (in addition to some of ESPN’s top on-air talent).
And it’s also in the middle of a legal fight with Florida Governor Ron DeSantis.
The Bob Iger Mansion
However, all the financial problems impacting the company has yet to affect Disney CEO Bob Iger’s lifestyle. His $33 million mansion has forged ahead with multi-million dollar renovations.
Bob Iger’s 7,400 square feet estate is in California’s prestigious Brentwood neighborhood. Originally purchased by the Disney CEO and his wife for $20 million in 1995, the property has undergone a long list of updates and renovations.
These home projects included re-plastering the swimming pool, adding a spa, and building a new two-story stable. The property has also added an additional living quarter, stairs, new gates, a two-story media room, a covered patio, and added terraces.
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In Bob Iger’s defense, he is entitled to do whatever he wishes with money he earned either through investments or his tenure as Disney CEO. Also, many of these projects had already begun or were in the works just before things started to trend downward for Disney. But, it’s never a good look to spout about cost-cutting measures, announce layoffs of lower levels employees, and deliver lukewarm financial results for a company you lead, and then continue a multi-million dollar project to further turn your residence into a “resort-like setting.”
The New York Post article highlighting the story juxtaposes it with the recent ESPN layoffs expected to let go of around 20 on-air personalities, including Jeff Van Gundy, Max Kellerman, Keyshawn Johnson, Suzy Kolber, and Jalen Rose.