The Rich Get Richer: How One Billionaire Lost But Still Made Hundreds Of Millions
Portfolio Pulse from Aaron Bry
Activist investor Nelson Peltz, through Trian Fund Management, increased his stake in Walt Disney Co (NYSE:DIS) last October and owned more than 1% by the end of 2023. Despite losing a proxy battle to oust CEO Bob Iger, Peltz sold his entire Disney stake for nearly $1 billion. Disney's stock has outperformed the SPDR S&P 500 Trust (NYSE:SPY) in 2024, although it dropped 10% on May 7. Peltz has previously taken activist positions in companies like Proctor & Gamble Co (NYSE:PG) and PepsiCo (NYSE:PEP).
May 30, 2024 | 6:43 pm
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NEUTRAL IMPACT
Nelson Peltz sold his entire stake in Disney for nearly $1 billion after losing a proxy battle to oust CEO Bob Iger. Despite the loss, Disney's stock has outperformed the SPY in 2024, although it dropped 10% on May 7.
The sale of Peltz's stake and the proxy battle loss are significant events for Disney. However, the stock's performance in 2024 and the recent 10% drop on May 7 indicate mixed short-term impacts.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Nelson Peltz has previously taken activist positions in PepsiCo (PEP).
Peltz's past involvement with PEP is mentioned, but it has no immediate impact on the stock.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Nelson Peltz has previously taken activist positions in Proctor & Gamble Co (PG).
Peltz's past involvement with PG is mentioned, but it has no immediate impact on the stock.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Disney's stock has outperformed the SPDR S&P 500 Trust (SPY) in 2024, despite a 10% drop on May 7.
Disney's performance relative to SPY is noteworthy, but the direct impact on SPY is limited.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50