Billionaire investor sells all his Disney shares

Nelson Peltz sold his Disney shares last Wednesday (29), two months after losing, together with his hedge fund, Trian Fund Management, a proxy fight against Disney. The company's shares are either rising or falling.

Market value

According to Forbes, Peltz obtained around US$ 1 billion from the sale on Wednesday, at the close of the market, being US$ 120 per share, according to information from CNBC, which was cited by an unidentified person, but who is familiar with with the subject.

The company closed down 1.5% on Wednesday at U$100.88 and continued to fall 9% in the last three months, with its market value being U$183.9 billion.

With a 1.7% stake in the company, that is, US$3.2 billion, Triam continues as one of the company's largest institutional investors. Nothing about it was commented on by either Trian or Disney.

Embed from Getty Images

_{Disney store in Times Square, New York, USA (Photo: reproduction/Getty Images Embed)}

Rising stocks and falling stocks

Nelson Peltz's net worth is estimated at US$1.6 billion, this amount being mainly from his hedge fund. On another occasion, Peltz had a power of attorney against Disney canceled, when the company's CEO, Bob Iger, launched a restructuring and layoffs initiative, with the aim of saving the company in the amount of US$5.5 billion. With criticism of the company's profits, Peltz returned to dispute against Disney in November.

However, after the second dispute the company's share price was US$92 in December, and in April it rose to US$122. Now, the stock has been falling since its highs in April, trading for $100 per share.

Featured photo: Nelson Peltz, founder and CEO of Trian Fund Management, during the Future Investment Initiative (Reproduction/Marco Bello/Bloomberg via Getty Images Embed)