Disney Chairman Bob Iger Sold Roughly 50% of his Shares for Nearly $100 Million

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Disney Chairman Bob Iger Sold Roughly 50% of his Shares for Nearly $100 Million. As the previous CEO, now Disney Chairman Bob Iger begins to settle into retirement plans for the end of the year, the accomplished businessman is looking to diversify his portfolio. To usher in the new era, Iger recently sold nearly 50% of his Disney stocks (550,570 shares at an average price of $179.21) for a staggering $98.7 million!

Related: Bob Iger opens up with SiriusXM host Alan Fleischmann on leaving Disney and more…

When asked about the recent share sale a representative from Disney shared in a statement, “The value of these shares reflects the significant shareholder value generated under his leadership.” During Iger’s 15-year run as Disney’s CEO, the company saw stock prices rise over seven times their value from 2005. Though he has cashed in a good chunk of his shares, they will not be sitting idle for long. Iger will be using his earnings to invest in other properties and businesses as he coasts into retirement at the end of 2021.

Related: Bob Iger Confirms he is leaving the Walt Disney Company on December 31st, 2021

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Featured Photo Credit: Disney/ABC

Source: Bloomberg