Whether or not Walt Disney wished upon a star, his dreams were about to come true as nearly half of the United States gathered around black-and-white televisions on July 17, 1955. After more than two decades of planning and a breakneck year of construction, the Mickey Mouse creator had transformed a 160-acre orange grove in Anaheim, California, into a $17 million theme park—Disneyland.
Bankers and even Disney’s brother Roy, who was the financial director of his movie studio, thought the ambitious project would lead to ruin, but the animation mogul borrowed against his life insurance and sold vacation property to build what some in Hollywood dubbed “Walt’s folly.” With his reputation and finances at stake, Disney pushed a frenzied schedule to open Disneyland only one year and one day after construction began.
The work of hammering and painting continued right up to the start of a 90-minute live broadcast of Disneyland’s opening on the ABC television network, which aired Disney’s highly rated weekly show and was a one-third investor in the theme park. Interest in the attraction was so great that, according to Neal Gabler’s book “Walt Disney: The Triumph of the American Imagination,” an estimated 70 million people—in a country of 165 million—tuned in to watch the unveiling co-hosted by actor and future president Ronald Reagan.