[News Figures] Abigail Disney, Disney Heiress Advocating for the Introduction of Wealth Tax

"Take More of My Taxes"…Direct Signature
Active as Social Activist and Documentary Director

[Asia Economy Reporter Jeong Hyunjin] During the World Economic Forum (WEF·Davos Forum), which concluded on the 20th (local time), more than 200 ultra-wealthy individuals from 12 countries sent a letter demanding, "Now is the time to address the issue of extreme wealth inequality" and "Take more taxes from me." The signatories of this letter were members of the progressive wealthy group 'Patriotic Millionaires.' Among those who personally signed were actor Mark Ruffalo, who played the Hulk in the 'Avengers' series, and Abigail Edna Disney, the heiress of Disney.

Abigail Edna Disney, the heiress of Disney (Photo by Abigail Disney)

Why did Disney's heiress call for the introduction of a wealth tax? Abigail Disney had previously signed a letter in June 2019, along with 'hedge fund legend' George Soros and others, urging U.S. presidential candidates to support the introduction of a wealth tax. In 2020, she also participated in proposals to increase taxes on the wealthy to support the Joe Biden administration's COVID-19 relief programs.

Granddaughter of Walt Disney's Brother... Documentary Producer and Social Activist

Born in 1960, Abigail Disney is the granddaughter of Roy O. Disney, the brother of Walt Disney, the founder of the Walt Disney Company. Roy Disney co-founded the company with Walt Disney. Although Abigail Disney is called an heiress of the Walt Disney Company, the exact size of her Disney shares is not publicly known. According to a report by the U.S. economic media Business Insider in December 2020, Abigail's brother and Roy O. Disney's grandson, Roy P. Disney, revealed that the Disney family holds less than 3% of the total shares.

Abigail Disney currently works as a social activist and documentary filmmaker. She holds a bachelor's degree in English literature from Yale University, a master's degree in English literature from Stanford University, and a Ph.D. in philosophy from Columbia University. In 1991, she and her husband Pierre Hauser founded the Daphne Foundation to support the poor in New York City, and in 2008, she established Peace is Loud, a nonprofit organization for a just society. In 2015, she visited Pyongyang, North Korea, and Seoul to participate in the 'DMZ Walk' event.

In 2007, she co-founded the film production company Fork Films with director Gini Reticker. She then produced the 2008 documentary film 'Pray the Devil Back to Hell.' In 2015, she directed and wrote the documentary film 'The Armor of Light,' which tells the story of a pastor advocating for gun control in the United States, and won an Emmy Award.

Interest in Inequality Issues... Also 'Targeting' Disney Executives

[Image source=AP Yonhap News]

According to foreign media, Abigail Disney grew up playing at Disneyland, founded by her grandfather, but developed a strong skepticism about the wealth enjoyed by the Disney family as she grew up. In a 2019 interview with fashion magazine The Cut, she said she was overwhelmed by the enormous wealth her family held and developed deep self-doubt, adding, "I actually felt inferior to people who earned their own money."

Against this background, Abigail Disney's critical view of wealth inequality has also been directed at Disney itself. In 2019, she pointed out, "I think CEOs generally receive too much salary." In the same year, through an op-ed in The Washington Post (WP), she criticized the high compensation of Disney executives as "crazy." She argued that executives should give up half of their bonuses and raise employees' wages.

In April 2020, she strongly criticized Disney for temporarily laying off 100,000 employees while paying $1.5 billion (about 1.85 trillion KRW) in dividends to management. She wrote, "The $1.5 billion dividend is equivalent to three months' wages for all Disney frontline workers," adding, "Park employees at amusement parks fought for years to earn $15 an hour, but former Disney CEO Bob Iger earns 1,500 times that, and current CEO Bob Chapek earns 300 times that." Abigail Disney described herself as "just a citizen," but added, "But I am an heiress carrying the Disney name. I have a conscience and cannot sit idly by while abuses occur where the Disney name is attached."

Recently, Abigail Disney urged the wealthy on her Twitter account to give up private jets and travel in business class on airlines. Seemingly aware of the global concerns about greenhouse gas emissions from aircraft, she pointed out, "Private jets are 'cancer.'"