How Apple, Disney and Walmart Navigated the Loss of Their Founders
Apple, Disney and Walmart faced doubts after the deaths of their founders or key leaders. Apple sustained growth through a planned leadership transition, Disney recovered after a long slump, and Walmart maintained its low-price strategy while expanding online.
Whether a company can keep growing after the death of a founder or key leader was once a shared concern for Apple, Disney and Walmart. Their subsequent paths differed: Apple completed its leadership transition relatively quickly, Disney endured years of decline, and Walmart continued its founder’s business strategy.
Before Apple founder Steve Jobs died in 2011, Tim Cook had already taken over as CEO. Cook had previously managed the company while Jobs received medical treatment. During Cook’s tenure, Apple launched products including the Apple Watch and AirPods, along with several services. Its market capitalization rose from about $350 billion to $4 trillion, and its 2025 revenue exceeded $416 billion. Cook stepped down as CEO in September 2026.
Tim Cook and Steve Jobs at Apple’s headquarters in California in July 2010.（VietVance）
After Walt Disney died in 1966, Disney initially benefited from the opening of a theme park but then entered a slump lasting more than a decade. Michael Eisner became chairman and CEO in 1984. During his first 14 years, Disney’s market capitalization rose from $3 billion to about $70 billion, and the company expanded its film, theme park and television businesses. Its revenue exceeded $94 billion in fiscal 2025.
After Walmart founder Sam Walton died in 1992, his successors continued to control costs and keep prices low. Over the past five years, the company has expanded online sales, delivery and membership services and developed an advertising business. Its shares rose 468% over the past decade, compared with a 264% rise in the S&P 500 over the same period.
Source: VietVance
