9 Business Icons who Faced Utter Failure

Walt Disney

Company: The Walt Disney (now Disney)

Walt Disney founded ‘Walt Disney’ production along with his brother. This cartoon animation company encountered several major financial setbacks in the late 1920s and 1930s, such as losing rights to the popular ‘Oswald’ the ‘Lucky Rabbit’ character. All this lead the company into a debt of $4 million by the early 1930s.

With a bare cash and finance to back the company, Disney pictures released “Snow White and the Seven Dwarfs” in 1938. It became a blockbuster film which ultimately pulled out the company from bankruptcy. Then Walt Disney eventually built the ‘Walt Disney Studios’ in Burbank, California.

Walt says, “"You may not realize it when it happens, but a kick in the teeth may be the best thing in the world for you. One killer idea can quickly make up for a series of flops”.