Here's why:
* Subsidiaries: Disney owns a vast array of subsidiaries, including theme park operators, film studios, television networks, streaming services, and publishing houses. These subsidiaries can be further divided into smaller companies.
* Acquisitions: Disney has a history of acquiring other companies, which adds to the total. For example, the acquisitions of Pixar, Marvel, Lucasfilm, and 21st Century Fox have significantly expanded Disney's holdings.
* Joint Ventures: Disney also participates in joint ventures with other companies, which are not technically owned by Disney but involve significant ownership and collaboration.
Instead of a specific number, it's more accurate to say that Disney is a massive conglomerate with a diverse portfolio of holdings across various industries.
You can find more information about Disney's subsidiaries and business segments on their official website or through financial reports.