Who are Nelson Peltz's wives? Activist investor ends fight for Disney board seat, says he's happy with firm's restructuring plans
PALM BEACH, FLORIDA: Nelson Peltz has withdrawn his lawsuit against Walt Disney, a day after the firm announced a restructuring plan that would result in the loss of 7,000 employees, bringing an end to one of the most contentious business conflicts in recent years. The termination of the activist investor’s campaign removes a distraction for CEO Bob Iger, who is working to turn around the company's loss-making streaming services.
Disney shares have risen 18% since Peltz declared his intention to join the board less than a month ago, implying that he will profit handsomely from his $900 million position. Peltz declared Thursday morning, February 9, “The proxy fight is over. Now Disney plans to do everything we wanted them to do,” according to Daily Mail. He added that the restructuring plan and the entertainment giant's determination to return the payout halted during the pandemic had addressed the reforms required by his hedge fund, Trian Partners. With Peltz in the news once again, there is renewed interest in his personal life, especially his wives.
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Who is Nelson Peltz?
Nelson Peltz is the founder of the investing firm Trian Fund Management and an activist investor. Peltz was born in 1942 in Brooklyn, New York, to a Jewish household as the son of Claire and Maurice Herbert Peltz. He was the second of their two children and grew up in the Brooklyn neighborhood of Cypress Hills, a sub-community of East New York. In the Bronx, he attended Horace Mann School. Peltz began his undergraduate studies at the University of Pennsylvania's Wharton School in 1960, where he joined the fraternity Phi Gamma Delta, but dropped out in 1963 and never finished his degree.
Who are Nelson Peltz's wives?
According to ABFC, Peltz has married thrice. Information about his first and second wife is not available in the public domain. Claudia Heffner, a former fashion model, is his third wife, with whom he has eight children. Actors Nicola Peltz and Will Peltz are among Peltz's children. On April 9, 2022, his daughter Nicola married Brooklyn Beckham, son of English footballer David Beckham, in a Jewish ceremony.
Trian initiated a proxy battle with Disney in January, attempting to gain Peltz a seat on the board. The activist firm stated at the time that it had approximately 9.4 million shares worth approximately $900 million, which it had acquired a few months earlier. Peltz has criticized Disney's $71 billion acquisition of Fox in 2019 as well as the company's lack of succession planning. He has also criticized "weak corporate governance" that has destroyed shareholder wealth over the years. After Peltz's comment, Disney released a statement, saying, “We are pleased that our Board and management can remain focused without the distraction of a proxy contest, and we have tremendous faith in Bob Iger’s leadership and the transformative vision for Disney’s future he set forth yesterday.” according to Reuters.