Former Marvel CEO Ike Perlmutter Has Sold All Of His Disney Stocks Citing A Lack Of Confidence In Management

Former Marvel CEO Ike Perlmutter Has Sold All Of His Disney Stocks Citing A Lack Of Confidence In Management

Ike Perlmutter kept Marvel from going bankrupt in the '90s but his policies and practices were controversial, which ultimately led to his dismal.

By MarkJulian - Jul 24, 2024 08:07 AM EST
Filed Under: Marvel Studios
Source: WSJ

Ike Perlmutter, the former chairman and CEO of Marvel Entertainment in the '90s has announced that he's sold all of his Disney ($DIS) shares, which total 256 million. Yesterday, $DIS was valued at $91/share, which means Perlmutter may have amassed as much as  $2.329 billion in cash. 

Perlmutter rescued Marvel when it was on the verge of bankruptcy, and negotiated the selling a number of the company's IPS to film studios alongside his partner, Avi Arad, including the X-Men to Fox and Spider-Man to Sony. Perlmutter received the $DIS stock when Disney purchased Marvel back in 2009.

However, Perlmutter was an unpopular figure at the company in more recent years, and according to Bob Iger's biography, was the sole reason why it took such a long time for movies such as Black Widow and Black Panther to get made at Marvel Studios.

Perlmutter, who last held the title of chairman of Marvel Entertainment, lost control of Marvel Television in 2019 and was part of company-wide layoffs in March 2023.

More recently, Perlmutter, joined activist investor Nelson Peltz last year in a bid to secure two seats on Disney's board and thus acquire a more active role in the comapny's decisionmaking but was soundly defeated by current Disney CEO Bob Iger.

In a statement to the Wall Street Journal, Perlmutter revealed that he sold all of his shares, "because he doesn’t have confidence in management, and that he might be a buyer again if it falls to $65-$75.

However, perhaps this was a poor time to sell, as Deadpool & Wolverine seems poised to return Marvel Studios to the glory days where theatrical releases were all but guaranteed to gross a billion+.

However, other recent reports indicate that attendance at Disney World is down this year, and that Disney has been discretely cutting admission and hotel rates in reaction to dwindling attendance and customer displeasure. The growing point of contention among the community known as "Disney adults" is that the parks have become too expensive.

Combined with the fact that nearby Universal Studios will be opening Epic Universe next summer- which includes new lands centered on Super Nintendo World, more Harry PotterHow to Train Your Dragon, and classic Universal Monsters- and Disney World might be in even bigger trouble next year, as the segment of the company that brings in the biggest revenue will be outshined by a rival in its own backyard. 

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OptimusCrime
OptimusCrime - 7/24/2024, 8:49 AM
Thats... cool i guess.

I heard Deadpool makes jokes about the state of Marvel and Disney at the moment.
So i personally think Disney knows its doing wrong and will change course.
ItsNotForMeWahh
ItsNotForMeWahh - 7/24/2024, 8:49 AM
User Comment Image
harryba11zack
harryba11zack - 7/24/2024, 8:49 AM
haha we finally did it!!
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fanboy03191
fanboy03191 - 7/24/2024, 11:10 AM
@harryba11zack - We? Dude walked away with a cool 2 billion.
Evansly
Evansly - 7/24/2024, 8:49 AM
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Superheromoviefan
Superheromoviefan - 7/24/2024, 8:54 AM
good
now diney should make less marvel tv
krayzeman
krayzeman - 7/24/2024, 8:58 AM
Good riddance.
Deadinside
Deadinside - 7/24/2024, 9:06 AM
Yeah, go on...get outta' here ya' freakin' loser...! Take your $2.3 BILLION DOLLARS & scram...! ☮️😜
Thing94
Thing94 - 7/24/2024, 9:07 AM
Yeah Ike! Disney management sucks! Too woke! Haha
marvel72
marvel72 - 7/24/2024, 9:34 AM
@Thing94 - Yeah I don't blame him,just because Deadpool And Wolverine is going to be a massive hit for Disney, what we got next is terrible.

Agatha and Ironheart,can't wait.
TheRogue
TheRogue - 7/24/2024, 10:51 AM
@marvel72 - You do realize he's the one who is responsible for those shows dipshit.
marvel72
marvel72 - 7/24/2024, 12:57 PM
@TheRogue - No big Kev is you dip shit.
TheRogue
TheRogue - 7/24/2024, 1:20 PM
@marvel72 - Lmao who is the boss of big kev? Who is known to have signed off spamming disney plus series for a profit? WHat a corprate shill you are.
Gmoney84
Gmoney84 - 7/24/2024, 9:09 AM
Bye Felicia
WhatIfRickJames
WhatIfRickJames - 7/24/2024, 9:10 AM
Life is about choices
TheVisionary25
TheVisionary25 - 7/24/2024, 9:10 AM
I mean , thanks for saving Marvel back in the 90’s but otherwise…

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DocSpock
DocSpock - 7/24/2024, 9:12 AM

For sometimes good and sometimes bad, he was a very important figure in building the MCU.

But it was time for him to go. He is all and only about the money while not really caring at all what people think of him, and he has chosen a good time to take the (tons of) money and run.

But make no mistake, if the future stock price is right and he can make another killing, he will be back laughing at all of those who can't stand him.
comicfan100
comicfan100 - 7/24/2024, 9:16 AM
You won't be missed.
Feralwookiee
Feralwookiee - 7/24/2024, 9:20 AM
This guy wipes his ass with more money in a day than most of us will make in a lifetime.
Clintthahamster
Clintthahamster - 7/24/2024, 9:47 AM
@Feralwookiee - Yep. The rich get richer, and poor get poorer. It's the American way!
BillyBatson1000
BillyBatson1000 - 7/24/2024, 11:57 AM
@Feralwookiee - This - ALL day long.
ObserverIO
ObserverIO - 7/24/2024, 1:43 PM
@Feralwookiee - Yeah, but we will be rich in better Marvel movies now, so really who's richer us or him?


...it's him isn't it?
Feralwookiee
Feralwookiee - 7/24/2024, 2:32 PM
@ObserverIO - I don't see them changing direction at all.
These people never admit they're wrong and only double down on what they've already been doing.
ObserverIO
ObserverIO - 7/24/2024, 2:35 PM
@Feralwookiee - "These people"?! You mean white people? Buddy... not you too.
Feralwookiee
Feralwookiee - 7/24/2024, 4:27 PM
@ObserverIO - I mean the lefty virtue signaling weirdos who have control of Disney and most of the media in the U.S.
They never admit they're wrong. They only double down on their "beliefs" and tell you you're bad for not agreeing with them 100%.

Also, dude, we don't use the "w" word around here.
"European-American", please.

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ObserverIO
ObserverIO - 7/24/2024, 6:16 PM
@Feralwookiee - sorry I'm... I'm from that generation. We all used to say that word.
Feralwookiee
Feralwookiee - 7/24/2024, 7:07 PM
@ObserverIO - User Comment Image
Spoken
Spoken - 7/24/2024, 9:20 AM
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SATW42
SATW42 - 7/24/2024, 9:20 AM
adios bitch
marvel72
marvel72 - 7/24/2024, 9:37 AM
@SATW42 - All that money he has, do you really think he gives two shits about being called a bitch by someone in the comments section.
Clintthahamster
Clintthahamster - 7/24/2024, 9:48 AM
@marvel72 - I doubt that SATW42 thinks that Ike Perlmutter reads this comment section.
SATW42
SATW42 - 7/24/2024, 9:58 AM
@marvel72 - do you think my goal here was for Ike to read it? Do you think every user here who makes a post about Brie Larson thinks she's reading them?

What a weird comment. "he still has money, he doesn't care about you". Cool?
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