If You Invested $1,000 In Disney Stock When Ron DeSantis Became Governor, Here's How Much You'd Have Today

Over the last several years, one of the largest media companies in the world has been battling with a leading Republican political figure.

Here’s a look at the stock performance of The Walt Disney Company DIS during Florida Governor Ron DeSantis’s time in office.

What Happened: DeSantis, who won Florida’s gubernatorial election in 2019 and 2022, announced in May his official candidacy for the 2024 presidential election.

This could be good news for Disney, as it could mean the GOP favorite will spend less time worrying about the entertainment giant’s local theme park operations as he campaigns nationally.

DeSantis took offense when Disney spoke out in opposition to the Parental Rights in Education Act, also known as the “Don’t Say Gay” bill. Since that time, DeSantis has revoked the autonomous privileges Disney held over its Orlando, Florida region since 1967.

In February, DeSantis enacted a bill removing Disney's unique authorities and introduced new board members to supervise the Florida area.

“Today, the corporate kingdom finally comes to an end,” DeSantis proclaimed at the bill’s signing ceremony.

The Disney-controlled Reedy Creek Board passed a clause prior to DeSantis' bill that could see it keep self-governing power until "21 years after the death of the last survivor of the descendants of King Charles III." This intensified the rivalry and resulted in lawsuits.

DeSantis, a Jacksonville, Florida native, has spoken out about the clause and even said he would consider selling off land near Disney or putting a jail near the theme park.

As the drama unfolds, with lawsuits that could potentially reach the Supreme Court, here’s a look at Disney’s stock performance ever since DeSantis took office.

While reports suggest that DeSantis might be reconsidering his aggressive stance towards Disney, the media company has pushed back and continues to fight against the governor's planned changes.

Related Link: Disney Q3 Earnings Highlights: Revenue Miss, EPS Beat, 105.7 Million Core Disney+ Subscribers And More 

Investing $1,000 in Disney Stock: DeSantis, who previously served as a U.S. Representative for the state, narrowly won the Florida governor election in 2018 with 49.6% of the vote. A tight race where DeSantis emerged victorious by a margin of 0.4%, leading to an automatic recount.

Shares of Disney traded as high as $112.56 on the day DeSantis took office on Jan. 8, 2019. A $1,000 investment in the media company could have purchased 8.88 shares of DIS.

The $1,000 investment would be worth $764.48 today, based on a price of $86.09 for Disney shares at the time of writing.

The investment would be down 23.6% in the last four-plus years.

For comparison, a $1,000 investment in the SPDR S&P 500 Global ETF Trust SPY would be worth $1,857.51 today, up 85.8% over the same time period.

Shares of Disney have traded between $84.08 and $118.34 over the last 52 weeks.

Benzinga previously reported that DeSantis' re-election win in 2022 coincided with Disney's reporting quarterly financial results that missed expectations.

The conflict between Disney and DeSantis is among multiple factors impacting the company's stock, making it a key consideration for investors.

Read Next: 2024 Election Betting Odds: Where Does DeSantis Rank?

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