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Nelson Peltz

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business1 year ago

Nelson Peltz: Matchmaker for Trump and Musk, Skeptical of Market Rally

Nelson Peltz, a hedge fund billionaire and activist investor, claims he played a key role in connecting Elon Musk and Donald Trump, describing himself as a 'matchmaker' between the two. Peltz made these remarks at the CNBC Delivering Alpha conference, where he also criticized Kamala Harris as a 'ridiculous' alternative to Trump. Additionally, Peltz discussed his failed proxy fight to join Disney's board, attributing his loss to index funds' opposition and expressing his willingness to reinvest if Disney's stock price drops. He also criticized Disney's leadership and questioned the focus on diversity in Marvel films.

via Variety|
#business#disney#donald-trump
business1 year ago

Nelson Peltz: Matchmaker for Musk and Trump, Skeptical of Market Rally

Activist investor Nelson Peltz revealed that he played a role in reconnecting Tesla CEO Elon Musk with President-elect Donald Trump by hosting a breakfast meeting at his home. Peltz believes Musk's support was crucial for Trump's campaign success. Additionally, Peltz discussed his past proxy fight with Disney and predicted that a new CEO will be named next year, contrary to previous expectations of 2026. He expressed confidence in James Gorman's ability to find a suitable successor to Bob Iger.

via Hollywood Reporter|
#business#disney#donald-trump
business1 year ago

Nelson Peltz Sells Disney Stake After Proxy Battle Loss

Nelson Peltz's Trian Fund Management sold its Disney shares for about $1 billion after losing a proxy fight to join Disney's board. Despite the loss, Trian profited from Disney's stock price increase earlier this year. Disney, under CEO Bob Iger, has implemented cost-cutting measures and is focusing on its streaming business, theme parks, and finding a successor for Iger.

via Los Angeles Times|
#bob-iger#business#disney
stock-market-update1 year ago

"Key Insights Before the Stock Market Opens"

Rising Treasury yields negatively impacted major stock indexes, with the Dow Jones falling the most. Salesforce shares dropped over 15% in premarket trading due to weaker-than-expected revenue. ConocoPhillips announced a $17 billion acquisition of Marathon Oil, expanding its shale field assets. Abercrombie & Fitch reported its strongest first quarter ever, with sales and profits significantly exceeding expectations. Nelson Peltz sold all his Disney stock, making about $1 billion after losing a proxy battle last month.

via CNBC|
#abercrombie-and-fitch#conocophillips#nelson-peltz
market-update1 year ago

Salesforce Shares Plunge on Weak Forecast and Revenue Miss

U.S. futures dipped on Thursday amid concerns over weak Treasury sales and potential Federal Reserve interest rate cuts. Salesforce shares fell after its second-quarter forecast missed estimates, while activist investor Nelson Peltz sold his Disney stake following a failed proxy battle. UBS reshuffled its leadership team, and crude prices declined despite a significant draw in U.S. oil inventories.

via Investing.com|
#crude-prices#federal-reserve#market-update
business1 year ago

Nelson Peltz Sells Disney Stake for $1B Profit After Proxy Battle Loss

Despite losing a proxy fight against Disney's board and CEO Bob Iger, billionaire activist investor Nelson Peltz's firm, Trian Fund Management, sold its entire stake in Disney for a $1 billion profit. The sale occurred as Disney shares were around $120, though they have since dropped to $100.88. Peltz's campaign criticized Disney's share price and management, but the financial outcome proved lucrative for him.

via Deadline|
#bob-iger#business#disney
business1 year ago

Nelson Peltz Divests Disney Stake Post-Proxy Defeat

Activist investor Nelson Peltz has sold his entire stake in Disney for about $1 billion, weeks after losing a proxy battle to elect himself and former Disney finance chief Jay Rasulo to the company's board. Peltz's Trian Partners had criticized Disney's governance, streaming strategy, and CEO succession plan. Disney shares have risen approximately 11% this year.

via CNBC|
#business#disney#nelson-peltz
politics1 year ago

Musk, Trump, and Peltz's Breakfast Meeting with Sons: Report

Donald Trump, Elon Musk, and Nelson Peltz met for breakfast in March at Peltz's estate in Palm Beach, Florida, where they criticized President Joe Biden's administration and discussed a "data-driven" project to combat voter fraud. The meeting, which included their sons, marks a warming relationship between Trump and Musk, with Musk potentially advising Trump if he is re-elected.

via Business Insider|
#donald-trump#elon-musk#joe-biden
business1 year ago

"Disney's Board Election Drama: Bob Iger's Resilience and Intel's Missteps"

Bob Iger faced a tough battle to keep Nelson Peltz off the Disney board, with proxy advisory firm ISS and CalPERS supporting the activist investor. The main issue was Disney's succession process, which had been botched in the past. Peltz's lack of experience in entertainment and controversial statements raised questions about his suitability. Despite Iger prevailing in the proxy fight, speculation about his successor is rife, with internal candidates being considered. Peltz's proxy fight was the most expensive in history, and while he lost, he profited significantly.

via Hollywood Reporter|
#bob-iger#business#disney
business1 year ago

"Disney's Boardroom Battles: From Corporate Raiders to Woke Wars"

The Walt Disney Co. released the official vote totals from its annual shareholder meeting, revealing that all 12 board nominees, including Chairman and CEO Bob Iger, were approved by shareholders. Nelson Peltz's Trian Fund Management failed to secure two board seats, with Peltz receiving 31% of the total votes and former Disney CFO Jay Rasulo faring much worse. James Gorman emerged as the top vote-getter, while criticism of the board's indulgence of Iger was evident in the voting ratios for some nominees.

via Deadline|
#board-election#bob-iger#business
business1 year ago

"Disney's Board Election Tally Reveals Strong Support for Majority of Candidates"

Disney released the official vote tallies from its 2024 shareholders meeting, with 9 of its 12 board candidates receiving more than 90% of shares cast in their favor. Activist investor Nelson Peltz, who sought two board seats, received 31% of shares voted in his favor, while Trian nominee Jay Rasulo received 12%. Despite Peltz's defeat, he warned of potential future action if Disney did not fulfill its pledges, including expediting the CEO succession process.

via Variety|
#activist-investor#board-of-directors#business