Hayley Mills Faces Unexpected Twist After Losing Disney Fortune

Hayley Mills, former Disney child star, recently discussed the management of her earnings on "The Rosebud Podcast" as she celebrated her 80th birthday. Mills revealed that much of her Disney fortune was lost to taxes due to poor advice and high taxation rates at the time.

Financial Missteps

During the podcast, Mills explained that her earnings were placed in a trust fund, but due to a super tax rate of 90%, most of it went to taxes. She attributed some of the financial mismanagement to the naïveté and optimism of her father and inadequate advice from their business manager.

Legal Battles and Losses

Mills faced further challenges when she attempted to withdraw her money at age 21, only to be hit with a surtax of 91%. Despite legal attempts led by prominent judges like Lord Denning, who briefly ruled in her favor, the decision was overturned by the House of Lords.

The ensuing financial burden left Mills without the significant sum she had earned during her early career. Her appeals to the British government for a resolution were ultimately denied in 1975.

Career Reflections

Reflecting on her career, Mills expressed a desire to explore roles beyond those offered by Disney after reaching adulthood. Despite these challenges, she acknowledges being fortunate to have supportive parents and mentors throughout her career. After this period, Mills continued acting sporadically on stage and television.

Mills described Walt Disney as a close family friend and recounted his warm relationship with her parents. She reflected on the kindness and dedication he showed towards his employees during her formative years in Hollywood.