Key Takeaways

• A few months prior to his death, in 1966, Walt Disney did release a 25-minute long video to the public outlining his desire to construct the Experimental Prototype Community of Tomorrow (Epcot), which was supposed to be "the creation of a living blueprint for the future."
• Since the death of Walt Disney, most of the Disney family members have elected not to become involved with the business. The only one to serve in an executive role was Roy E. 
• Since the company was valued at $130 billion in 2020, the family's combined net worth is estimated to be approximately $3.9 billion, which does not include investments outside of Disney holdings.

Introduction

Guidance from Walt Disney

• Although it is widely believed that Walt Disney left behind video instructions guiding executives on his vision for the company in the event of his death, no such video actually exists, nor were there any documents explicitly detailing his vision. Walt Disney was diagnosed with lung cancer in late 1966 and died shortly after in December of that same year, his death being considered "sudden and unexpected."
• A few months prior to his death, in 1966, Walt Disney did release a 25-minute long video to the public outlining his desire to construct the Experimental Prototype Community of Tomorrow (Epcot), which was supposed to be "the creation of a living blueprint for the future." As a part of his vision, Disney wanted to establish a large and innovative community consisting of approximately 20,000 residents living in neighborhoods that would serve as a display of civic and industrial ingenuity. A 1,000-acre office park was planned to help create new technologies, with Epcot households being among the first in the world to receive and evaluate the product.
• Disney, whose company purchased land in Orlando meant for the development, also planned for Epcot to have its own airport to transport residents of the community to Disney World while setting up a "vacation land" that would serve as a resort for visitors. Moreover, automobiles would traverse the city and park using an underground system that would ensure they would not be seen. In addition, an extensive high-speed monorail system was planned to allow visitors and residents to travel across Disney World. The Master Plan for EPCOT is presented in the image below, followed by a drawing of the transportation center.

 

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• While many wanted to fulfill his vision for Epcot, Walt Disney's brother, Roy O. Disney, greatly scaled back these plans following his death. In 1981, the Epcot Center opened. However, it was far from Disney's futuristic vision. It does not resemble a community, and it is considered to be more of a prototype that lacks many components of Disney's plans for Epcot.
• In the 1990s, the Disney Corporation did eventually construct a town named Celebration (pictured below) on its landholding in Florida, sans the monorail, technological hubs, universal employment policies, and underground transportation networks envisioned for Epcot.

 

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How Involved is the Family

• As it relates to business, the Disney family is largely not actively involved with the Walt Disney Company. In 2020, they had a share of less than 3% of the company, as revealed by Roy P. Disney, Roy O.'s grandson, and Walt Disney's nephew. By comparison, Walt and Roy Disney owned around 20% of the business by 1960.
• Since Walt's death, most of the Disney family members have elected not to become involved with the business. The only one to serve in an executive role or be actively involved in the business was Roy E., Roy O.s' son who died in 2009. Reportedly, Walt Disney did not want his children or grandchildren involved in running his company and encouraged them to explore different ventures.

How the Disney Family Uses Their Inheritance

• Since the company was valued at $130 billion in 2020, its combined net worth is estimated to be approximately $3.9 billion, which does not include investments outside of Disney holdings.
• The family has mostly focused on philanthropy, donating millions to various charities domestically and abroad, while also using their inheritance to preserve Walt Disney's legacy. For example, Lillian Disney, Walt's wife, donated around $274 million towards the development of a brand-new concert hall situated in Los Angeles. Meanwhile, the Disney family has contributed almost $100 million towards the construction of Disney Hall.
• Abigail Disney, one of Roy E. Disney's children, has contributed a total of around $70 million towards different charities, as of 2019. She founded the Daphne Foundation with her husband, a charity centered on assisting disenfranchised residents in New York. Tim Disney, another one of Roy E.'s children, spearheads the Adamma Foundation, which focuses on helping disadvantages residents of Los Angeles, while his sister Susan Disney Lord serves as the chairperson of the Roy + Patricia Disney Family Foundation (RPDFF). The RPDFF focuses on establishing vibrant communities, sustainability, and equality.

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