Monday, December 5 marks 121 years since one of the most influential figures in film and culture was born. Walt Disney went from amateur cartoonist to the creator of one of showbiz's most iconic brands. The Walt Disney Company was founded in 1923 by its namesake and his brother, Roy O. Disney. Five years later, Mickey Mouse made his debut in a media production.
In 1937, Disney's first feature-length film – Snow White and the Seven Dwarves – made millions of dollars at the Box Office.
Hollywood hits were not the end of the Disneys' ambitions. Walt opened Disneyland in 1955, and also won plaudits nearly a decade later for Mary Poppins, which was released in 1964 . The film received 12 Academy Award nominations.
The Walt Disney company is now worth hundreds of billions of dollars according to reports. In 2020, GOBankingRates' Sean Dennison valued it at $130billion (£106billion). However, this was before the launch of Disney+, a streaming service that saw the company's value skyrocket.
Statista reported this week that the Walt Disney Company now holds assets worth $203billion (£166billion).
Founder Walt always tried to maintain a degree of normality while his business continued to surge in value and notoriety. His adopted daughter, Sharon, once explained how he did this.
As quoted by Business Insider, she said: "We weren't raised with the idea that this is a great man who is doing things that no one else had ever done. He was Daddy. He was a man who went to work every morning and came home every night."
When Walt died from lung cancer in 1966, he left behind a huge fortune for his two daughters Sharon and Diane, as well as his many grandchildren.
Walt and his wife, Lillian, lived in an $8.5million (£6.9million) home in Los Angeles. The home's value soared to over £70million after renovations made by another owner.
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Walt's oldest daughter, Diane, and her seven children all reportedly inherited large sums from the Hollywood icon. One of her daughters, Tamara, told People that her family "lived a very simple, traditional family life."
Sharon also tried to live as normal a life as possible with her adopted daughter Victoria, and her twins Brad and Michelle. It has also been reported that Michelle never worked and owns three homes in California.
Victoria is said to have led an even more luxurious lifestyle. Eriq Gardner of the Hollywood Reporter once wrote of Sharon's adopted daughter: "She once went on a Disney cruise ship and destroyed her suite in such spectacular fashion that Eisner, then-CEO of the company, had to call the trustees and make them pay for the damages. The family staged numerous interventions, to no avail."
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The twins, Brad and Michelle, became embroiled in a dispute over a trust fund worth more than £300million. Journalist Mr Gardner reported that the inheritance was supposed to be sent to the twins in five-year intervals. But while Michelle got hers, Brad did not receive his.
The trustees and Brad's sister argued he could not receive the money because of a "chronic cognitive disability". They also believed the twins' father, Bill, was trying to take advantage of his son to gain access to the inheritance.
Walt's brother, Roy.O, had four children. His son, Roy E, announced plans to sell his £6million's worth of Disney shares, but later died of stomach cancer in 2009. Another of Roy O's children, Abigail, admitted in 2019 she had reservations about the huge wealth her family had inherited.
She said: "We went from being comfortable, upper-middle-class people to suddenly my dad had a private jet. That's when I feel that my dad really lost his way in life.
"And that's why I feel hyperconscious about what wealth does to people. I lived in one family as a child, and then I didn't even recognize the family as I got older."
Business Insider reported in 2020 that the Disney family as a whole now owns less than three percent of the company.
FAQs
Q: Who inherited Walt Disney's fortune? A: Walt Disney's fortune was inherited by his family, including his wife and two daughters.
What happened to the Disney family? ›
The Disney family has not been involved in managing Disney since their father, Roy E. Disney, stepped down from the board in 2003 and led a shareholder revolt that resulted in Mr. Iger's ascension.
Did the Disney family sell Disney? ›
While members of the Disney family held shares in the Company from the moment the Company first went public in 1940, they haven't had a controlling interest for many years. Does the Disney family still own Disney? No one person or family own The Walt Disney Company any more.
Are any of Walt Disney's families still alive? ›
Does Walt Disney have any living relatives? Walt Disney's immediate family members, such as his grandchildren, continue to be his living relatives.
Why did Disney lose a lot of money? ›
The reasons given for these huge losses was the “aggressive” nature of the company in wanting to tell “too many stories”: “As we got into the streaming business in a very, very aggressive way, we tried to tell too many stories,” explained Iger. “Basically we invested too much, way ahead of possible returns.
Does Disney money still exist? ›
While Disney Dollars are no longer available to purchase, Guests may continue to use previously purchased Disney Dollars at Walt Disney World Resort, the Disneyland Resort and select Disney Store locations in the United States.
Is the Disney family still wealthy today? ›
But for all its success, the family behind "The Happiest Place on Earth" has largely stayed out of the limelight and the business. While it's not known just how much the family is worth, GOBankingRates estimated the company's net worth to be $130 billion.
Who is the actual owner of Disney? ›
Who owns Disney now? ›
Disney's shares are owned by a mix of insiders, ordinary investors, and institutional investors. Disney's largest individual shareholders are the company's insiders, including the current CEO, Robert Iger, and top managers, such as Brent A. Woodford, Maria Elena Lagomasino, and Mary Barra.
Who ran Disney after Walt died? ›
Roy O. Disney, who after Walt's death oversaw the building and financing of Walt Disney World, died in late 1971, and for the next decade the Company was led by a team including Card Walker, Donn Tatum, and Ron Miller—all originally trained by the Disney brothers.
On July 13, 1925, Walt Disney married Lillian Bounds at her brother's home in Lewiston, Idaho. Walt and Lilly had met when Ms. Bounds acquired a job at the Disney Brothers Cartoon Studios as an inker and painter.
Did Walt Disney buy his parents a house? ›
In 1938, after the financial success of "Snow White and the Seven Dwarfs," Walt Disney and his brother Roy bought their parents a brand-new house in North Hollywood, The New York Times reported. His parents reportedly complained about a faulty furnace in the home.
Who inherited Disneys money? ›
When Walt died from lung cancer in 1966, he left behind a huge fortune for his two daughters Sharon and Diane, as well as his many grandchildren. Walt and his wife, Lillian, lived in an $8.5million (£6.9million) home in Los Angeles. The home's value soared to over £70million after renovations made by another owner.
Was Walt Disney's family rich or poor? ›
His family was poor, and the happiest time of his childhood was spent living on a farm in Missouri. His affection for small-town life is reflected in Disneyland Main Streets around the world.
What were Walt Disney's last words? ›
What were Disney's last words? Contrary to popular legend, Walt's last words were not spoken, and they were not "Kurt Russell." Though not disclosed to the general public, his last written words were "CIA—Mobley."
Who gets all of Walt Disney's money? ›
When Walt died from lung cancer in 1966, he left behind a huge fortune for his two daughters Sharon and Diane, as well as his many grandchildren. Walt and his wife, Lillian, lived in an $8.5million (£6.9million) home in Los Angeles.
Does Walt Disney still make money? ›
BURBANK, Calif. –The Walt Disney Company (NYSE: DIS) today reported earnings for its second quarter ended March 30, 2024. Financial Results for the Quarter: Revenues for the quarter increased to $22.1 billion from $21.8 billion in the prior-year quarter.
How much money has Walt Disney World lost? ›
The Disney Theme Park Complex That Has Lost $16 Billion Of Its Value This Year. Senior Contributor. I cover the entertainment industry focusing on movies and theme parks. For the past three years, Disney's theme parks have cast a powerful spell on its bottom line.
