It’s the House of Musk vs. the House of Mouse.
‘Disney sucks’: Elon Musk is funding actress Gina Carano’s lawsuit against Disney — asks Twitter users if they want to ‘join’ fight against the media giant. Should DIS investors be worried?
It’s no secret that Tesla CEO Elon Musk is not a fan of the current Disney (DIS). After all, the controversial billionaire recently called for Disney CEO Bob Iger to be “fired immediately.”
And now, Musk is supporting actress Gina Carano in her legal battle against the entertainment conglomerate.
“Today is an important day for me–I am filing a lawsuit against @lucasfilm & @Disney,” Carano wrote in a post on X, formerly known as Twitter.
In her message, the actress recounted her dismissal from the show “The Mandalorian” in 2021 by Lucasfilm, which, she noted, was during “the regime of former Disney CEO Bob Chapek.”
Carano’s lawsuit, filed in California federal court, accuses Disney and Lucasfilm of wrongful discharge, refusal to hire and sex discrimination. She is seeking reinstatement to her role in “The Mandalorian” and compensation for lost income and future employment opportunities.
At the time Lucasfilm fired Carano, the company said, “Her social media posts denigrating people based on their cultural & religious identities are abhorrent & unacceptable.”
Carano countered this accusation. “Nothing could be further from the truth,” she wrote. “The truth is I was being hunted down from everything I posted to every post I liked because I was not in line with the acceptable narrative of the time. My words were consistently twisted to demonize & dehumanize me as an alt right wing extremist. It was a bullying smear campaign aimed at silencing, destroying & making an example out of me.”
She added that she “never even used aggressive language.”
How X became a part of this story
Social media posts are increasingly relevant to hirings and firings.
In August 2023, Musk announced, “If you were unfairly treated by your employer due to posting or liking something on this platform, we will fund your legal bill. No limit.”
Carano responded to that offer. And to her astonishment, things moved forward.
“To my surprise, a few months ago I received an email from a lawyer who had been hired by X to look into my story & many others. Turns out after sending them as much information as I could gather these past few months, my now lawyers & X believe whole-heartedly in my case & are moving forward,” she shared.
Musk shared Carano’s post on X, commenting, “Please let us know if you would like to join the lawsuit against Disney.”
His post garnered significant attention, with 175,000 likes and nearly 10,000 comments.
Musk’s criticism of Disney doesn’t stop there. In a separate post about reported casting choices for the next installment of Disney’s “Pirates of the Caribbean,” he wrote, “Disney sucks.”
Disney stock making a comeback?
For the fiscal quarter ended Dec. 30, Disney generated $23.55 billion of revenue, nearly unchanged from $23.51 billion in the same period last year. Adjusted earnings came in at $1.22 per share, up 23% from the 99 cents per share a year earlier.
Additionally, Disney has unveiled an exciting plan for growth, announcing a $1.5 billion investment for an equity stake in Epic Games, the creator of the popular online game Fortnite.
“This marks Disney’s biggest entry ever into the world of games and offers significant opportunities for growth and expansion. We can’t wait for fans to experience the Disney stories and worlds they love in groundbreaking new ways,” Iger said in a press release.
Thanks to a post earnings surge, Disney shares have increased by 20% since the beginning of the year.
Wells Fargo analyst Steven Cahall sees further upside on the horizon. The analyst has an Overweight rating on Disney and a price target of $128 — around 17% above where the stock sits today.
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