Even though billionaire investor Nelson Peltz may have lost the battle for a Disney board seat in April, he just scored a financial win by selling all of his Disney stock.
Peltz, the 81-year-old founder of multi-billion dollar hedge fund Trian Partners, has made $1 billion by selling his stake in Disney, a source familiar with the matter told CNBC late Wednesday.
Peltz reportedly sold his stock at $120 a share; the stock currently trades at around $100 and closed at $100.88 on Wednesday.
Nelson Peltz, founding partner of Trian Partners. Photographer: Calla Kessler/Bloomberg via Getty Images
Peltz’s Trian Partners owned over 32 million shares of Disney as of March 31, the firm’s
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