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Disney executive president Bob Iger and his wife, Willow Bay, dean of the Annenberg School of Communication and Journalism at the University of Southern California, donated $ 5 million to help small businesses battling the coronavirus pandemic.
Los Angeles Mayor Eric Garcetti announced the gift during a COVID-19 press conference on Thursday.
“We are very grateful for their bold leadership,” said Garcetti of the couple, adding that the $ 5 million would help 1,000 of the hardest hit companies in all neighborhoods in the country’s second largest city.
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The mayor said all of the companies that would be helped are on a waiting list that continues to grow as funds run dry while the city awaits federal aid.
Bob Iger, CEO of the Walt Disney Company, and his wife Willow Bay attend the 90th Academy Award at Hollywood & Highland Center on March 4, 2018 in Hollywood, California (Photo by Kevin Mazur / WireImage)
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Garcetti mentioned that the couple had already donated US $ 500,000 to the Mayor’s Fund for Los Angeles, which supports small businesses and struggling families, at the beginning of the pandemic.
Small business subsidies, he said, meant the difference between “doubling and moving forward”.
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“I am proud to announce that 1,000 of the hardest hit companies in our city will get off the waiting list and be helped now and be able to overcome this moment to survive and soon to prosper again,” Garcetti told reporters. conference. “Thank you, Willow and Bob and all of your family for your generosity in realizing the importance of small businesses and getting up to help 1,000 businesses in every neighborhood in LA”
Iger was Disney’s chief executive for 15 years, until he was named chief executive last year.