Dear Gossips,

It’s Friday the 13th and here’s some scary news—the billionaires are at it again. “Activist investor” Nelson Peltz (father of Nicola Peltz-Beckham), has restarted his proxy fight with Disney CEO Bob Iger. First of all, I hate the term “activist investor” because it makes me think people are using investing as a tool to create equity in financial markets and it’s never that, it’s always some f-cking billionaire throwing his weight around the boardroom, which is exactly what’s happening here. We’ve already been through this earlier this year, and now Peltz is buying up more Disney shares and trying to gain seats on the Disney for himself and others to be nominated from his investment firm.

 

I’m exhausted just thinking about it, but I also can’t stop wondering what the hell Nelson Peltz is trying to accomplish. I mean, besides petty revenge for his fellow billionaire buddy, Ike Perlmutter, who was ousted as the chairman of Marvel Entertainment earlier this year. That’s been the rumor all year, that Peltz is really at Bob Iger’s throat because of Ike Perlmutter, but businesspeople will insist on giving business excuses for this but…I don’t know. I’m inclined to believe it’s just petty money sh-t, with billionaires pushing around the hundred-millionaire CEO of Disney. There are no heroes here.

The main business reason given for Peltz’s panties being in a bunch is that he doesn’t approve of the Disney-Fox merger and thinks it was bad for business. He’s not even wrong! The Fox merger WAS a bad idea and HAS been bad for Disney! But make no mistake, Peltz is not acting out of some deep belief in like, the value of the Disney brand. He bought into Disney last November, then scored $150 million off his earlier slap-fight with Bob Iger. I don’t think he really gives a sh-t about the Fox merger, I think he’s leveraging Disney, traditionally a very reliable blue-chip stock, during a turbulent moment for his own gain and damn the consequences for anyone else, with a side bonus of avenging his billionaire buddy’s firing. I think all this is really about the billionaires being mad the hundred-millionaire dared to fire one of them.

 

I’m sure businesspeople can chime in and explain to me all the reasons Nelson Peltz is right to take on Disney and whatnot, but I just don’t care. Bob Iger’s plan to satisfy Nelson Peltz has, so far, resulted in 7,000 people losing their jobs. His continued “restructuring” of Disney to service their debt and get their stock price back up will undoubtedly include more layoffs. I just do not care why the billionaires are mad because at the end of the day, they stay billionaires and regular people lose their jobs, and I’m f-cking sick of it. Why can’t Nelson Peltz go sail on his yacht and leave the rest of us alone? Activist investor, my ass. He’s only an activist for other billionaires.

Live long and gossip,

Sarah