The state of South Carolina has made a bold move in its stance against companies that engage in far-left activism. On Tuesday, State Treasurer Curtis Loftis announced that South Carolina will no longer be investing in The Walt Disney Company, citing the company’s abandonment of fiduciary responsibilities to its investors and customers.
According to the press release, the state has removed Disney from its approved investment list and will not be replacing the $105 million dollars of Disney debt instruments that are currently in the State Treasurer’s Office portfolio. This decision comes after Disney joined the growing advertising boycott of Elon Musk’s X, formerly known as Twitter.
Treasurer Loftis stated that Disney’s participation in this boycott and other similar actions aimed at censoring free speech goes against the core principles on which America was founded. He also mentioned the company’s fight to repeal Florida’s Parental Rights in Education Law, which prohibits the indoctrination of public school students into radical gender and LGBTQ ideology.
However, Disney will not be disappearing entirely from the state of South Carolina. The state’s announcement comes at a time when Disney is looking to expand its influence in the neighboring state of North Carolina. On Wednesday, the company announced its plans to build a residential community near Raleigh, Durham, and Chapel Hill under its “Storyliving by Disney” brand. The new neighborhood, named “Asteria,” is set to offer a unique and luxurious living experience for residents.
While Disney’s move into North Carolina may bring economic benefits to the state, it does not change the fact that South Carolina is taking a stand against the company’s political activism. Treasurer Loftis made it clear that South Carolina will not support corporations that engage in actions meant to silence differing opinions and viewpoints.
The state’s decision has received mixed reactions from the public. Some applaud South Carolina for standing up for freedom of speech and rejecting companies that try to impose their political agenda on others. Others criticize the state’s move, stating that it may affect Disney’s financial success and, therefore, harm the state’s economy.
Regardless of these differing opinions, South Carolina has taken a firm stance against companies that prioritize their political beliefs over their responsibilities to their investors and customers. It remains to be seen how this decision will impact Disney’s relationship with the state and whether other states will follow in South Carolina’s footsteps.