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In the late 1950s, Walt Disney was looking for a location for his second park, Disney World. Disney visited Palm Beach Gardens and met with John D. MacArthur, an insurance billionaire who created the town in June 1959. Disney and MacArthur came to an agreement: Disney would provide the entertainment and MacArthur would provide the land and the money. The deal was sealed with a handshake.
Disney’s brother, Roy, didn’t like the plan. He was concerned about neighboring communities making money off Disney’s success. As the one who handled the business, Roy unsuccessfully negotiated for more land, effectively ending the deal.
– Rebecca Hastings, The 100 Companies