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Walt Disney Co. (NYSE:DIS) has reversed its publicly-stated disappointments with California Gov. Gavin Newsom by making a $32,400 campaign contribution to help him fend off a recall vote.
What Happened: The company's subsidiary Disney Worldwide Services, according to a Deadline report, made the contribution to Newsom's 2022 re-election campaign, which is financing his efforts to survive the Sept. 14 recall.
Disney's relationship with Newsom has become strained over the past year. Last November, CEO Bob Chapek openly criticized Newsom's refusal to allow the company's California theme parks to reopen — the Disney venues in Florida and Asia were already open for business at the time — and Executive Chairman Bob Iger cited Newsom's decision when he quit California's Business Recovery Task Force.
In July, Disney announced it was moving 2,500 jobs from California to Florida. In an unveiled slap at Newsom's handling of the state's economy, Disney Parks, Experiences and Products Division Chairman Josh D'Amaro praised "Florida's business-friendly climate" in announcing the workforce shift.
Related Link: Did Disney Dis Trump In Hall Of Presidents Placement?
What Happens Next: Under California's recall election rules, Newsom will remain as governor if more than 50% of voters decide not to support his recall. If less than 50% support his incumbency, the challenger with the highest vote tally becomes governor, even if that candidate secures fewer votes than Newsom.
Newsom is facing a field of 46 candidates seeking to unseat him — 24 Republicans, nine Democrats and 13 candidates who are either linked to third parties or have no party affiliation. Conservative radio talk show host Larry Elder is leading in the polls among the challengers, and if elected he would make history as California's first Black governor.
Other challengers include former San Diego Mayor Kevin Faulconer and reality television personality Caitlyn Jenner, who would become California's first transgender governor if elected.
Photo: Gage Skidmore / Flickr Creative Commons.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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