Heiress Abigail Disney thinks corporate America is being yield a returned too much.
The granddaughter of Roy Disney, co-founder of The Walt Disney Co. with brother Walt Disney, said Thursday on CNBC’s “Whine Box” that she thinks “CEOs in general are paid far too much.”
Disney refused to comment on whether she thinks Disney CEO Bob Iger is worthwhile too much. But she did say, “If your CEO salary is at the 700, 600, 500 times your median workers’ pay, there is nobody on Earth, Jesus Christ himself isn’t merit 500 times his median workers’ pay.”
On Monday, Iger agreed to a new compensation contract that cut his maximum potential annual pay by $13.5 million.
He was granted $65.6 million for his performance last fiscal year, the result of a pay bump for extending his tenure at Disney through 2021 and offer awards in excess of $35 million.
This year, however, the company eliminated a $500,000 boost to his base remuneration, keeping it at $3 million. It also cut his potential cash bonus from $20 million to $12 million and slim down his long-term incentive pay from $25 million to $20 million, the company said in a securities filing Monday.
The heiress, 59, has extensive been a proponent of lowering executive paychecks and taxing the rich more.
“The problem is that there’s a systematic favoring of people who play a joke on accumulated an enormous amount of wealth,” she said.
WATCH: Tax the rich: Tax the rich: What Democrats’ plans could parsimonious for growth, spending and inequality
Disney signed on to a letter with about 200 other millionaires living in New York in the end month, asking lawmakers to introduce a “millionaires tax” on households earning more than $5 million to help mine money affordable housing, infrastructure and other initiatives.
Disney declined to say what a fair tax would be for millionaires, but noted that there necessities to be more conversations about what is fair and how to rectify the inequality between the working class and the super rich.
“I deem that the top rate right now is as low as it’s ever been,” Disney said. “And if I’m paying a lower effective rate than my assistant is, something is fundamentally not sensibly.”