This is Maggie Pagano on Business, a weekly newsletter exclusive for Reaction members. To become a member of Reaction click here.
The Walt Disney Company has a history of looking after its leading characters. Disney’s former boss, Michael Eisner, amassed a $1 billion fortune during his 21 years working at the entertainment company.
Eisner was able to make so much money because of an extraordinarily complex salary and bonus package, said to be one of the most convoluted ever designed in corporate America. (His lawyer sat on the Disney board.)
Eisner’s sensational pay package was also highly controversial, one of the first to prompt outrage about sky-high corporate pay in the 1990s and to move the topic from just Wall Street to Washington. It also triggered a bitter shareholder revolt and a furious row with Roy E. Disney, the son of Roy O. Disney who founded Disney with his brother, Walt Disney.