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South Carolina State Treasurer Curtis Loftis removed The Walt Disney Company from the state’s approved investment list on Tuesday due to the company’s “far-left” activism. “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,” Loftis wrote in a statement.
The South Carolina State Treasurer’s Office portfolio reportedly “contains $105 million of Disney debt instruments that will mature over the next several months and will not be replaced” after they are paid out.
Loftis’ decision is in response to threats made by Disney CEO Bob Iger to pull advertising off Elon Musk-owned speech platform X. Notably, X allows far more freedom of speech than most platforms, angering leftist censors and “watchdog” organizations like Media Matters for America, which have pushed for Disney and other woke corporations to withdraw their advertising from X. Media Matters, as The Federalist’s John Davidson explains, exists solely “to churn out deceptive, fake studies designed to pressure large firms to pull advertising from media outlets and platforms that don’t toe the leftist line.”
Musk told Iger and the other advertisers to “go f-ck yourself,” describing their threats as “blackmail,” during the New York Times DealBook Summit last week.
“Multi-billion-dollar corporations should not engage in boycotts designed to silence legitimate debate,” Loftis wrote in his statement. “Since America’s founding, freedom of speech has been one of its core [principles], and
