Roy Disney Net Worth: The word “Disney” conjures up feelings of joy and wonder wherever it is spoken. Since the early 1900s, the company started and built from the ground up by brothers Roy and Walt Disney has brought magic and entertainment to the lives of millions of people both on and off the screen. Disney has grown into a global powerhouse, particularly in the entertainment industry. The Disney family’s fortune has ballooned thanks to their never-ending stream of ingenuity in finding new ways to grab and keep people’s attention.
Roy Disney Net Worth
Before his death in 2009, Roy Disney, an American media executive, producer, and director, was worth $1.2 billion. Roy O. Disney’s son, Roy E. Disney, was Walt Disney’s nephew. In the late ’60s, Roy was appointed Disney’s Chairman of the Board; he resigned from that position in 1977 due to disagreements over the company’s direction and eventually left the board entirely in 1984. This was around the time that Disney was instrumental in orchestrating the takeover that ultimately led to Michael Eisner being named chairman. After a prosperous first 20 years, the company experienced a precipitous decline starting at the turn of the millennium. Michael Eisner resigned in 2005 after Roy orchestrated a second takeover. Disney returned to the company and stayed on the board until his death in 2009. Read More Jamie Lynn Spears Net Worth
Roy Disney Early Life
Roy Disney’s birth date is firmly established as January 10, 1930, in Los Angeles, California. His parents were Roy O. Disney and Edna Francis. Walt Disney was an older brother to Roy’s dad. Following his time at Pomona College, Roy earned his degree in 1951. Before being elected to the board of directors in 1967, he worked as a producer and assistant director for Walt Disney Productions. Read More Dave Bautista Net Worth
Roy Disney Career
While employed as an executive at Walt Disney Productions, Disney resigned in 1977 due to differences in opinion with company management. Of the choice, he said, “To me, it seemed like the company was going nowhere interesting creatively. It felt very confining.” During a corporate takeover in 1984, Roy resigned from the board of directors. Because of this, Michael Eisner and Frank Wells succeeded Walt Disney’s son-in-law Ron Miller as CEO and president, respectively. Investors attempted a hostile takeover with the intention of breaking up Walt Disney Productions and selling off its assets, but Roy and his financial advisor Stanley Gold were able to rally white knight investors to defend the company.
He eventually became vice chairman and animation department chair at Walt Disney Productions, where he had previously worked. During the “Disney Renaissance” of the 1980s and 1990s, the studio released hits like “The Lion King” (1994), which was the year’s second highest-grossing film with nearly $1 billion.
When Frank Wells died in a plane crash in 1994, Michael Eisner declined to promote Jeffrey Katzenberg (who served as Chairman from 1984 to 1994) to Wells’ former position out of concern that Katzenberg would take too much credit for the success of the company’s releases in the early 1990s. In October 1994, after having disagreements with Disney and Eisner, Katzenberg resigned from Walt Disney Productions and filed a lawsuit against the company for unpaid wages. An estimated $250 million was paid to end the lawsuit.
Today we are celebrating Roy Oliver Disney, born this day in 1893. "Roy has the greatest confidence in me, in our medium, and in our future, but he is a businessman and doesn't like to live dangerously twelve months out of the year." —Walt Disney pic.twitter.com/2rBcsIJ7PA
— The Walt Disney Family Museum (@WDFMuseum) June 24, 2019
Michael honored Roy with the Disney Legends Award in October 1998 at the brand-spanking-new Disney Legends Plaza. Roy’s passion project “Fantasia 2000” won Disney a PGA Award the year after its debut. Roy asked to stay on the board of directors, but his request was denied after his friendship with Michael deteriorated. He left the company in November of 2003, citing “serious differences of opinion about the direction and style of management,” as Disney explained at the time. Must Read About Viktorija Golubic Net Worth
Nearly 1% of Disney stock (16 million shares) was in his possession when he passed away. As a point of comparison, after Disney’s acquisition of Pixar in January 2006, Steve Jobs owned 7% of Disney’s total outstanding shares. Jobs surpassed Michael Eisner, the company’s long-time CEO, and founder, Roy, a relatively minor shareholder, to become the company’s largest individual shareholder after the deal closed. Read More Andy Cohen Net Worth
Roy, who was 79, passed away from stomach cancer on December 16. After struggling with his illness for a year, he passed away at Newport Beach’s Hoag Memorial Hospital. His ashes were to be scattered at sea, according to his obituary in the “Los Angeles Times,” and he was survived by his wife, Leslie, two daughters, two sons, and 16 grandchildren. In lieu of flowers, Roy’s family has requested that memorial contributions be made to the California International Sailing Association. You can go to Dailyrealtime.com for more recent updates.