Acquired · Monday, August 10, 2026
To fend off corporate raiders in 1984, Disney management made a deal with the Bass family and their investment manager Richard Rainwater. This resulted in the Bass family acquiring approximately 25% of The Walt Disney Company, making them the largest shareholder.
“And in the midst of all this, desperate to ward off these corporate raiders, management strikes a series of friendly deals with four oil and gas brothers, the Bass family and their famous investment manager Richard Rainwater, that results in the Bass family owning about 25% of the Walt Disney company and becoming Disney's largest shareholder.”
“It's quite the introduction that the company was in such bad shape in 1983 that its stock dropped from $82 to $52 that the company was worth more if you sold it for parts than you know, actually running it.”