Disney pledges $5 million to support nonprofits advancing social justice

Disney pledges $5 million to support nonprofits advancing social justice
Published: June 3, 2020 at 2:10 p.m. ET The Walt Disney Company DIS, +2.88% has pledged $5 million to support nonprofit organizations that advance social justice, beginning with a $2 million donation to the NAACP, the company said Wednesday. "The killing of George Floyd has forced our nation to once again confront the long history…

The Walt Disney Company
DIS,
+2.88%

has pledged $5 million to support nonprofit organizations that advance social justice, beginning with a $2 million donation to the NAACP, the company said Wednesday. “The killing of George Floyd has forced our nation to once again confront the long history of injustice that black people in America have suffered, and it is critical that we stand together, speak out and do everything in our power to ensure that acts of racism and violence are never tolerated,” Disney Chief Executive Bob Chapek said in a statement. Disney shares are down 16% this year, while the broader S&P 500 index
SPX,
+1.36%

is down 3%.

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