Walt Disney Co. has committed $15 million to relief and recovery efforts in the wake of this week’s devastating wildfires in Southern California.
The Burbank-based entertainment giant on Friday said it would distribute the money to several organizations, including the American Red Cross, the Los Angeles Fire Department Foundation and the Los Angeles Regional Food Bank, that were dedicated to helping victims of the deadly Palisades and Eaton fires that have ripped through neighborhoods, destroying homes and businesses. Firefighters have battled smaller blazes that have ignited and quickly spread by strong winds.
The economic toll of this week’s wildfires is expected to surpass $50 billion.
“As this tragedy continues to unfold, The Walt Disney Co. is committed to supporting our community and our employees as we all work together to recover and rebuild from this unbelievable devastation,” Chief Executive Bob Iger said in a statement. “We are proud to provide assistance to this resilient and vibrant community in this moment of need.”
Disney has been “working around the clock to ensure the safety and well-being of our employees, many of whom have been impacted by these fires,” the company said in a statement that also pledged to set aside further resources for its employee relief fund.
Other entertainment companies also offered monetary assistance.
New York-based Paramount Global — which owns CBS, MTV, Comedy Central and the Paramount movie studio in Los Angeles— said it would donate $1 million to a handful of organizations, including Los Angeles Fire Department Foundation, California Fire Foundation, World Central Kitchen and Best Friends Animal Society. All have been assisting with firefighting and relief efforts.
“As major wildfires continue to erupt across parts of Los Angeles — causing massive devastation to families, homes and communities — our hearts are with everyone affected by this tragedy,” Chief Executives George Cheeks, Chris McCarthy and Brian Robbins said in a Friday memo to staff. “And we remain committed to supporting our employees who have been impacted during this incredibly difficult time.”