South Carolina State Treasurer Curtis Loftis removed The Walt Disney Corporation from the state’s approved investment list, expressing concerns about Disney’s “political agenda.”
Loftis cited Disney’s boycotts and argued that corporations should not silence legitimate debate.
He oversees South Carolina’s investments and has a history of opposing “ESG” investing. (Trending: Democrat Accused Of Blocking Release of Jeffrey Epstein Flight Logs)
The Treasurer’s Office wrote in a statement, “South Carolina State Treasurer Curtis Loftis has removed The Walt Disney Company (NYSE: DIS) from its approved investment list.”
“The State Treasurer’s Office portfolio contains $105 million dollars of Disney debt instruments that will mature as scheduled and will not be replaced,” continued the statement.
Adding, “The Treasurer will focus on the equity portfolio in the coming weeks.”
Loftis defended his decision, stating it was based on Disney’s financial performance and debt, not politics.
Loftis claimed in the statement that, “Disney has abandoned its fiduciary responsibilities to its investors and customers by joining far-left activist in boycotting legal, taxpaying, employment-creating corporations to further Disney’s political agenda.”
“Multi-billion-dollar corporations should not engage in boycotts designed to silence legitimate debate,” he continued.
“Since America’s founding, freedom of speech has been one of its core principals, and Disney should not engage in nefarious practices aimed at silencing those with less power and money,” explained the state treasurer.
His actions contrast with former Governor Nikki Haley’s comments about Disney.
Additionally, Loftis has a record of returning unclaimed funds to South Carolinians.