Chris Lange, FISM News
Walt Disney Co. has become a cautionary tale for companies that choose to peddle progressive ideology. The company has hemorrhaged nearly $63 billion in total dollar market value after declaring war on Florida’s Parental Rights in Education Law and pushing LGTBQ+ content onto young audiences.
According to a Breitbart report, Disney shares have plunged 23.5% since the beginning of March, coinciding with CEO Bob Chapek’s public apology for his once neutral position on the Florida Legislation and his decision to relinquish Disney’s moral authority to an “LGBTQ+ Advisory Council.”
Over the past 12 months, Disney stock plummeted more than 30%, making it the worst performing stock on the Dow Jones Industrial Average. Its market cap took a nosedive from $265.3 to $202.7 billion.
The entertainment giant’s decision to serve as a mouthpiece for progressive ideology has alienated millions of customers, many of whom have posted images on social media of them canceling their Disney+ subscriptions while others announced decisions to forego future Disney cruises and theme park vacations.
The company responded by doubling down, vowing to fight the parents’ rights legislation even after it was signed into law by Gov. Ron DeSantis. Leaked videos showing company leaders bragging about a “not-at-all-secret gay agenda” in producing content for children served to fan the flames of outrage among parents.
Gov. DeSantis responded to Disney’s threat to try to overturn a duly enacted state law by stripping the company of its self-governing status in Orlando. The Reedy Creek Improvement Act allowed Disney to bypass government approval in developing its 25,000 acres over the course of the last five decades.
The Walt Disney Co. now claims Florida owes it billions of dollars in bonds, citing improvements and infrastructure on its Florida headquarters and Disney World theme park.