Overview
Actor Nicola Peltz-Beckham’s father, Nelson Peltz, reportedly made over $1 billion from the sale of his Disney shares, sold at nearly $120 per share. The sale followed his failed attempt to reorganize the board.
Details
- Nelson Peltz, hedge fund billionaire and father of Nicola Peltz-Beckham, sold his Disney shares after his board reorganization proposal was rejected.
- Peltz’s shares were sold at a price close to $120 per share during a shareholder meeting in April.
- Despite recommendations from his fund, Hedgefund Trian Partners, Peltz’s bid to join the board was opposed by other shareholders.
- The vote was triggered by Peltz’s concerns regarding the board’s CEO succession plans and the appointment of Bob Chapek.
- Following Chapek’s dismissal in November 2022, former CEO Bob Iger was reinstated, prompting further criticism from Peltz.
Outcome
Peltz expressed his intention to continue criticizing the board if his expectations were not met, emphasizing the importance of shareholder value and strategic decision-making.
Investment Strategy
As an activist investor, Peltz focuses on undervalued businesses and advocates for internal reforms to enhance shareholder value.