Billionaire Disney activist hits out at all-black and all-female casts

The billionaire activist investor waging war against Disney has hit out at the media giant over its use of all-black and all-female casts.

Nelson Peltz, who owns a stake in Disney worth roughly $3.5bn (£2.8bn), sided with accusations that the Hollywood behemoth has become too woke.

He said: “People go to watch a movie or a show to be entertained. They don’t go to get a message.”

Mr Peltz, whose daughter Nicola is married to Brooklyn Beckham, took issue with recent blockbusters The Marvels and Black Panther, which portray female and black superheroes respectively.

In an interview with the Financial Times, the tycoon said: “Why do I have to have a Marvel that’s all women? Not that I have anything against women, but why do I have to do that?

“Why can’t I have Marvels that are both? Why do I need an all-black cast?” 

Disney’s recent push into more diverse casting marks efforts by the US company to balance its output after decades of films starring mostly white and male characters and actors.

It has also updated some of its classic fairytales, including Cinderella and Snow White, for the modern era.

But the moves have fuelled criticism that Disney is focusing on political activism at the expense of its audiences.

After years of delivering blockbusters, Disney’s film studios, which include Marvel, Pixar and Lucasfilm, have suffered a string of disappointing box office openings.

The Marvels recorded the worst box office debut in the history of the franchise when it was released late last year.

Mr Peltz has cited this lacklustre performance as one of the driving forces behind his activist campaign. He has also raised concerns about huge pay packets for executives and poor succession planning.

The investor, who owns shares in Disney through his vehicle Trian Fund Management, is campaigning for board seats for himself and former Disney finance chief, Jay Rasulo.

In a major boost to his campaign, Mr Peltz this week won the backing of influential advisory group Institutional Shareholder Services, which recommended that investors should vote to add the billionaire to Disney’s board.

Despite his repeated criticisms of Disney’s management, Mr Peltz insisted he was not trying to oust chief executive Bob Iger.

He said: “Disney is stupid because I’m not trying to fire Bob Iger, I want to help him. We don’t fire CEOs.”

Mr Peltz took aim at the social justice campaigns waged at consumer goods giant Unilever, where he has also agitated for change as a board member.

The activist has repeatedly clashed with the company over ice cream brand Ben & Jerry’s, which attempted to boycott sales in Israel and more recently called for a ceasefire in Gaza.

Mr Peltz said: “You’ve got to get these politics out of the boardroom. Ben & Jerry’s job is to sell ice cream, not to make political statements. And these people use anything for a soap box that they have no right to do.”

Unilever announced this week it would spin off its ice cream division, which includes Ben & Jerry’s. 

Disney has been approached for comment.