Disney Almost Promoted a CONSERVATIVE CEO - UNTOLD STORY

Patrick Bet-David (0:00)

You know, I look at your flywheel very closely, Disney's flywheel. And I remember the first one in 1957 This is Disney's flywheel in 1957 I'm sure you've seen this, right?

Bob Chapek (0:07)

No, 100%.

Patrick Bet-David (0:08)

It's a great story, theatrical studios, merchandise licensing, all this stuff. Then if you go to 12 years later, this is the flywheel. Get bigger at another park, et cetera, et cetera. Then bring it to the flywheel today. And if you zoom in, you guys are a behemoth. You're a small country is what you are, right? And the companies that you own, if an average person knew, they wouldn't believe the companies that you own, right?

Do you know a man named Al Weiss?

Bob Chapek (0:35)

Yeah.

Patrick Bet-David (0:36)

Okay. So Al Weiss was a heavyweight at Disney. Maybe if you can share with the audience who Al Weiss was, because you know him better than I do.

Bob Chapek (0:44)

Yeah. Al was a legend. He spent a lot of years in parks and experiences. Well, we call it parks and experiences in parks. And he was a legend in Orlando.

Headed up operations for the parks and very well respected. And he left the company, I believe, maybe about 10 years ago, and is a prominent citizen in Orlando, advocating for hospitals and things like that. So I do know Al very well.

Patrick Bet-David (1:14)

Was there any rumors ever of him becoming a CEO? Because I talked to a few people that said there were some conversations that he may have become the eventual CEO.

Bob Chapek (1:22)

I don't know, because that's at a time before, when he, that might have been the case, I don't know, at a time before I had any...

Patrick Bet-David (1:29)

Makes sense, because it would have been like your 15th year and you were like...

Bob Chapek (1:32)

Yeah, I was too low.

Patrick Bet-David (1:33)

So the reason why I'm asking this question is because Al Weiss, based on some of the folks I spoke to, insiders, was, he was offered to be the CEO of Disney, at least seeing if he had any interest, but he didn't want to do it because he didn't want to move to LA, because he was in Orlando and his job, he didn't want to leave Orlando with his family. But one thing was with Al that the average person doesn't know, I think the fans need to know this, this guy was a massive conservative, he was a Christian guy, he was a leader in the company, he created an organization called Vision 360, and he made an argument at one point, Disney cruise ships can be as profitable without gambling and casino. He ended up being right with the argument that he made, that we don't need to do that. And then he joined Disney 72, stayed there for 39 years, and now Vision 360 is a national multi-denominational Christian church planting organization based out of Florida. Founding, it was established in 04, and he does what he does. So the question for you, could a conservative man, if a guy like Al Weiss would have become the CEO, who is an operator, he gets the job done as well. Let's say he takes the job instead of Eiger, let's just say, even let you say that speculation is out there.

And Disney doesn't make the massive hick up of going and doing the woke stuff. You think Disney would have the same valuation it has today?

Bob Chapek (2:54)

Oh gosh, there's a whole bunch of hypotheticals in there.

Patrick Bet-David (2:57)

I like hypotheticals.

Bob Chapek (2:58)

Yeah, I could see you layered about three.

If, if, if, if, it's hard to say. Look, Al's a good guy, you know, and let's be honest, West Coast Disney, East Coast Disney, different animals.

Patrick Bet-David (3:13)

You're right.

Bob Chapek (3:14)

West Coast Governor, East Coast Governor, different animals. You are trying to please, one is trying to please, a lot of different masters when you're CEO of Disney.

And I can attest to the fact that it's very, very difficult. I have my own opinions where the company should be on these matters.

I'm sure Josh Domaro has his opinions. I'm sure Bob Iger had his opinions. I'm sure Michael Eisner, well, this is before all this kind of really blew up. But suffice it to say that oftentimes, when someone gets up in front of a crowd and makes a statement for the company, he's making or she is making a statement for the company. They may have their own points of view that may match up with that or may not match up with that. But, you know, that's part of the job.