Nelson Peltz Reportedly Sold All of His Disney Stock, Earning $1 Billion, After Losing Proxy Fight
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variety.comTodd Spangler NY Digital Editor Nelson Peltz cashed out his shares of Disney shortly after the activist investor lost his bid to win seats on the Mouse House’s board, according to a CNBC report Wednesday.
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.
That would indicate that Peltz sold the shares in the days immediately after the April 3 Disney shareholder meeting — where his bid to shake up Disney’s board was soundly defeated.
A rep for Trian Partners, the hedge fund headed by Peltz, declined to comment. Disney did not immediately respond to a request for comment.
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