The Walt Disney Company is pledging $5 million to different causes working towards "equality and justice."
Where The Money Is Going
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The company announced its donation on Wednesday, pledging to donate to various organizations. First up is the NCAAP, which will be receiving $2 million according to Variety.
Disney CEO Bob Chapek says in a statement:
"The killing of George Floyd has forced our nation to once again confront the long history of injustice that black people in America have suffered, and it is critical that we stand together, speak out and do everything in our power to ensure that acts of racism and violence are never tolerated. This $5 million pledge will continue to support the efforts of nonprofit organizations such as the NAACP that have worked tirelessly to ensure equality and justice."
Other Companies Are Following Suit
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Disney isn't the only company to donate money amid the protests over Floyd's death.
On Monday, Bad Robot — the production company led by Star Wars director J.J. Abrams, announced that it will partner with the Katie McGrath and J.J. Abrams Family Foundation to commit $10 million over the next five years to organizations and efforts committed to anti-racist agendas that close the gaps, lift the poor and build a just America for all.
Abrams said:
"We at Bad Robot are grateful to the many scholars, activists, organizers and leaders fighting on the frontlines of change in our systemically unjust country, - it is that constellation of thinkers and doers who have the blueprint to a more perfect, fair, equitable and kind union."
How This Impacts Disney's Finances
In the 2019 fiscal year, Disney made $69.57 billion in revenue. The company's net worth, per GoBankingRates, is estimated to be around $130 billion. The $5 million donation is about 0.004% of that.
While it's unclear at the moment where the rest of the $3 million will be donated, Disney is also set to match employee donations to certain causes through its Disney Employee Matching Gifts program.
Disney employees and cast members have a wonderful tradition of giving back, and this is the one step that is needed to urge the black community that they do indeed matter in this world today.
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