Columbia, SC
In a bold move reflecting a reevaluation of financial ties, South Carolina State Treasurer Curtis Loftis has officially removed The Walt Disney Company from the state’s investment list. The decision comes amid concerns voiced by Loftis about Disney’s alleged departure from its fiduciary responsibilities, citing the company’s alignment with far-left activists in boycotting certain corporations to advance its political agenda.
The Palmetto State had been investing in The Walt Disney Company, but Treasurer Loftis has opted to halt any further financial engagement with the entertainment giant. Loftis revealed that the state’s investment portfolio previously included $105 million in Disney debt instruments, which will now be allowed to mature without replacement.
In a statement, Treasurer Loftis expressed his apprehension about Disney’s recent actions, stating, “Disney has abandoned its fiduciary responsibilities to its investors and customers by joining far-left activists in boycotting legal, taxpaying, employment-creating corporations to further Disney’s political agenda.”
The decision to sever financial ties with Disney raises questions about the intersection of corporate responsibility and political activism. Treasurer Loftis’s concerns suggest a broader debate about the role of corporations in political movements and the potential impact on their investors and customers.
The move by South Carolina reflects a growing trend where state treasurers and public officials scrutinize corporate behavior and make investment decisions based not only on financial considerations but also on perceived corporate ethics and values.
