Tesla CEO Elon Musk hints at buying Walt Disney
What's the story
In a surprising turn of events, Tesla CEO Elon Musk showed up at the Los Angeles premiere of Lola, an indie film co-directed by actor Nicola Peltz.
When questioned by a FabTV reporter about his presence, Musk casually mentioned, "I'm just here with friends... Thinking about what companies to acquire," before walking away.
Could this be a hint that Musk is eyeing Disney for a potential acquisition?
Alliance
Support for activist investor Nelson Peltz
Nicola Peltz's father, Nelson Peltz, is an activist investor who is trying to shake up Disney's board using his hedge fund Trian Partners.
In December, he suggested himself and ex-Disney CFO Jay Rasulo as director candidates to replace two current board members.
Separately, Blackwells Capital's Chief Investment Officer accused Peltz of seeking endorsements from Musk, who doesn't own Disney shares.
However, Musk has been vocal in supporting Peltz's efforts, tweeting that shareholders have been "incredibly poorly served by Disney board!"
History
Ongoing feud with Disney CEO Bob Iger
Tensions between Musk and Disney CEO Bob Iger have been brewing for some time now.
It started when Musk allegedly made antisemitic remarks on his social media platform X, leading to Disney and other advertisers withdrawing their support.
At the New York Times DealBook Summit, Musk told X advertisers to "go fxxx" themselves, and specifically targeted Iger.
In December, Musk tweeted that Iger "should be fired immediately" in response to allegations that Disney "sponsored" sexual exploitation material on Meta.
Steps
Involvement in Gina Carano's lawsuit against Disney
Adding fuel to the fire, Musk announced that he is covering the legal expenses for former The Mandalorian star Gina Carano.
She filed a complaint against Disney for discrimination and wrongful termination.
Carano was fired in 2021 after making controversial comments about trans people and comparing being a Republican to being Jewish during the Holocaust.
Musk's support for Carano is part of his battle against Disney; he even encouraged others to join the lawsuit against the firm.