Los Angeles Mayor Eric Garcetti announced during a press conference Thursday that former Disney CEO Bob Iger and his wife Willow Bay, dean of the University of Southern California’s Annenberg School for Communication and Journalism, have donated $5 million of their fortune to aid Los Angeles small businesses struggling through the COVID-19 pandemic.

Mayor Garcetti said the following during the press conference:

Thanks to an incredibly generous donation of $5 million from Willow Bay and Bob Iger, I’m proud to announce that 1,000 of our city’s hardest-hit businesses will come off the waiting list and be helped, to bridge this moment, to be able to survive, and to soon thrive once again. Thank you Willow and Bob and your entire family for your generosity, of realizing the importance of small businesses, and standing up help for 1,000 businesses in every neighborhood of LA. After you guys gave $500,000 to the Mayor’s Fund early in the crisis, your new commitment will help these businesses weather this storm, and we are beyond grateful for your bold leadership.

Iger previously served on the California COVID-19 Business Recovery Task Force at the pandemic’s outset before leaving in October, reportedly over disputes on the State of California’s controversial guidance for reopening theme parks including Disneyland.