After cashing in on some of his stock options on Monday, Disney CEO Bob Iger has promptly reinvested some of the money into Apple, buying $1 million worth of shares, Business Insider reports.
Iger, who’s on the Apple board of directors, received $17.9 million from the Disney shares he banked.
Zenia Mucha, a Disney spokesperson on Iger selling his Disney shares:
He’s just diversifying his investments and still has a very large portfolio of Disney stock.
Apple’s have slumped lately (despite a recent resurgence over the past couple of days), so Iger probably saw it has the ideal opportunity to stock up, literally.
