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Nelson Peltz Reportedly Sold All of His Disney Stock, Earning $1 Billion, After Losing Proxy Fight
Nelson Peltz cashed out his shares of Disney shortly after losing his bid to win seats on the Mouse House's board, according to a report.
Peltz sold all of his Disney stock at “close to $120 dollars a share,” making about $1 billion on the sale, CNBC reported, citing an anonymous source. At the April 3 virtual meeting of Disney shareholders, investors voted to reelect the current 12-member board of directors by a substantial margin over the candidates nominated by Trian — Peltz himself and ex-Disney CFO Jay Rasulo — and a smaller investment firm, Blackwells Capital. Peltz, in an appearance on CNBC April 4, had threatened to resume his activist agenda at Disney if the company and CEO Bob Iger did not keep their “promises.”
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