Billionaire entrepreneur Elon Musk has expressed keen interest in acquiring shares of The Walt Disney Company, provided that activist investor Nelson Peltz secures a seat on Disney’s board.
Despite Peltz recently facing defeat in a challenge to Disney’s board, Musk remains supportive of his candidacy, citing Peltz’s impressive track record in corporate governance.
In a statement shared on his social media platform, Musk emphasized the potential benefits of having Peltz on Disney’s board, including potential reforms, enhanced product quality, and shareholder value optimization.
While Musk currently does not own any Disney shares, he expressed a willingness to invest in the company if Peltz is elected, citing confidence in Peltz’s ability to drive positive change within the organization based on his past achievements.
Nelson Peltz should definitely be on the Disney board!
He would help reform the company, improve the quality of product and generally serve in the best interests of shareholders, as he has done at many other companies.
This would significantly improve Disney’s share price. https://t.co/JPa6dP7kbQ
— Elon Musk (@elonmusk) April 3, 2024
Musk’s endorsement underscores the significance of Peltz’s potential role in shaping Disney’s future trajectory and enhancing its market performance.