Nelson Peltz
{{Short description|American businessman (born 1942)}}
{{Use mdy dates|date=July 2023}}
{{Infobox person
| name = Nelson Peltz
| birth_date = {{Birth date and age|1942|6|24}}
| birth_place = New York City, U.S.
| known_for = Founder of Trian Partners
| education =
| spouse = {{ubl|{{marriage|Cynthia Abrams|1964|1981|end = divorced}}|{{marriage|Claudia Heffner|1985}}}}
| party = Republican
| children = 10, including Will and Nicola
| relatives = Brooklyn Beckham (son-in-law)
}}
Nelson Peltz (born June 24, 1942) is an American billionaire businessman and investor. He is a founding partner, together with Peter W. May and Edward P. Garden, of Trian Partners, an alternative investment management fund based in New York.{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=26222634|title=Company Overview of Trian Fund Management, L.P.|publisher=Bloomberg Businessweek|access-date=April 4, 2012|archive-date=October 18, 2012|archive-url=https://web.archive.org/web/20121018200908/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=26222634|url-status=dead}} He is non-executive chairman of Wendy's Company,{{cite web |url=https://www.wendys.com/en-us/about-wendys/nelson-peltz |title=Biography Nelson Peltz |publisher=Wendy's |access-date=April 5, 2012 |archive-url=https://web.archive.org/web/20170324205352/https://www.wendys.com/en-us/about-wendys/nelson-peltz |archive-date=March 24, 2017 |url-status=dead }} Sysco, and The Madison Square Garden Company. He is a former director of H.J. Heinz Company, Mondelēz International,{{cite news |url=https://www.bloomberg.com/news/2014-01-21/mondelez-international-adds-investor-nelson-peltz-to-its-board.html |title=Mondelez Names Peltz Director as Investor Seen Pushing Cuts |author=Duane D. Stanford |newspaper=Bloomberg.com |publisher=Bloomberg |date=January 21, 2014 |access-date=March 10, 2017 |archive-date=August 18, 2014 |archive-url=https://web.archive.org/web/20140818051056/http://www.bloomberg.com/news/2014-01-21/mondelez-international-adds-investor-nelson-peltz-to-its-board.html |url-status=live }} and Ingersoll Rand{{cite web |url=https://online.wsj.com/news/articles/SB10000872396390444318104577585463456683338 |title=Activist Peltz Wins Board Seat At Ingersoll |author=Anupreeta Das and Sharon Terlep |publisher=The Wall Street Journal |date=August 13, 2012 |access-date=March 14, 2017 |archive-date=March 7, 2014 |archive-url=https://web.archive.org/web/20140307064415/http://online.wsj.com/news/articles/SB10000872396390444318104577585463456683338 |url-status=live }} and a former CEO of Triangle Industries.{{cite web |url=https://money.cnn.com/magazines/fortune/fortune500_archive/full/1988 |title=Fortune 500 |publisher=Fortune |access-date=April 3, 2012 |archive-date=May 1, 2012 |archive-url=https://web.archive.org/web/20120501055752/http://money.cnn.com/magazines/fortune/fortune500_archive/full/1988/ |url-status=live }}
Early life and education
Peltz was born to a Jewish family in 1942 in Brooklyn, New York, the son of Claire (née Wechsler; 1905–2007) and Maurice Herbert Peltz (1901–1977).New York, New York, Birth Index, 1910–1965{{cite news | url=https://www.nytimes.com/1977/09/06/archives/maurice-peltz-76-built-family-food-business-into-a-major-marketer.html | work=The New York Times | title=Maurice Peltz, 76, Built Family Food Business Into a Major Marketer | date=September 6, 1977 | access-date=July 23, 2018 | archive-date=July 23, 2018 | archive-url=https://web.archive.org/web/20180723212435/https://www.nytimes.com/1977/09/06/archives/maurice-peltz-76-built-family-food-business-into-a-major-marketer.html | url-status=live }}{{cite news | url=https://query.nytimes.com/gst/fullpage.html?res=9F04E3DD123AF931A25757C0A9619C8B63 | work=The New York Times | title=Paid Notice: Deaths Peltz, Claire | date=April 12, 2007 | access-date=February 11, 2017 | archive-date=November 10, 2012 | archive-url=https://web.archive.org/web/20121110102510/http://query.nytimes.com/gst/fullpage.html?res=9F04E3DD123AF931A25757C0A9619C8B63 | url-status=live }} He was the youngest of their three children, and grew up in the Cypress Hills section of Brooklyn, a sub-section of the East New York neighborhood.{{Cite book|url=https://books.google.com/books?id=EWERAQAAMAAJ&q=Nelson+Peltz+brooklyn+wechsler|title=Current Biography Yearbook|year=2008|publisher=H. W. Wilson Company}}
He attended Horace Mann School in the Bronx.{{Cite book|url=https://books.google.com/books?id=3erIDwAAQBAJ&q=Nelson+Peltz+cypress+hills&pg=PA109|title=The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the Junk Bond Raiders|first=Connie|last=Bruck|date=February 4, 2020|publisher=Simon and Schuster|isbn=9781982144265|via=Google Books}} Peltz attended the undergraduate program at the Wharton School of the University of Pennsylvania starting in 1960, where he joined the fraternity of Phi Gamma Delta,{{cite web|title=Wall Street Frats|url=http://www.businessinsider.com/wall-street-frats-2013-2#phi-gamma-delta--17|publisher=Business Insider|access-date=February 20, 2013|archive-date=February 16, 2013|archive-url=https://web.archive.org/web/20130216040516/http://www.businessinsider.com/wall-street-frats-2013-2#phi-gamma-delta--17|url-status=live}} but left school in 1963, without receiving a degree.{{Cite book |url=https://books.google.com/books?id=UN8WBgAAQBAJ&dq=Nelson+Peltz+%22university+of+Pennsylvania%22&pg=PA3 |title=Big Data Revolution: What farmers, doctors and insurance agents teach us about discovering big data patterns |date=January 5, 2015 |publisher=John Wiley & Sons |isbn=9781118943731 |access-date=September 3, 2020 |archive-date=October 27, 2020 |archive-url=https://web.archive.org/web/20201027161119/https://www.google.com/books/edition/Big_Data_Revolution/UN8WBgAAQBAJ?hl=en&gbpv=1&dq=Nelson+Peltz+%22university+of+Pennsylvania%22&pg=PA3&printsec=frontcover |url-status=live }}{{Cite web|url=https://www.businessinsider.in/finance/17-fraternities-with-top-wall-street-alumni/slidelist/21355808.cms|title=17 Fraternities With Top Wall Street Alumni|website=Business Insider|access-date=September 3, 2020|archive-date=October 27, 2020|archive-url=https://web.archive.org/web/20201027161124/https://www.businessinsider.in/finance/17-fraternities-with-top-wall-street-alumni/slidelist/21355808.cms|url-status=live}}
Business career
Peltz dropped out of the Wharton School with the intention of becoming a ski instructor in Oregon.{{Cite news |url=https://www.bloomberg.com/news/2012-09-20/peltz-gets-1-billion-as-activist-strategy-impresses.html |title=Peltz Gets $1 Billion as Activist Strategy Impresses |author=Katherine Burton and Sree Vidya Bhaktavatsalam |publisher=Bloomberg News |date=September 20, 2012 |access-date=March 10, 2017 |archive-date=January 25, 2015 |archive-url=https://web.archive.org/web/20150125094912/http://www.bloomberg.com/news/2012-09-20/peltz-gets-1-billion-as-activist-strategy-impresses.html |url-status=live }} However, he ended up driving a delivery truck for A. Peltz & Sons, a wholesale food distribution business founded by his grandfather in 1896, which delivered fresh produce and Snow Crop brand frozen food[https://news.google.com/newspapers?nid=1961&dat=19620115&id=5HItAAAAIBAJ&sjid=lIwFAAAAIBAJ&pg=3532,2914960 Palm Beach Daily News: "Matisse - The Younger Coming" by Cholly Knickerbocker]{{Dead link|date=November 2023 |bot=InternetArchiveBot |fix-attempted=yes }} January 15, 1952 | "Frozen food heiress Gladys Peltz (Poppa owns Snow Crop)..." to restaurants in New York.[https://www.jewishvirtuallibrary.org/jsource/biography/NelsonPeltz.html Jewish Virtual Library: "Nelson Peltz" by Nancy A. Ruhling] {{Webarchive|url=https://web.archive.org/web/20141213015529/https://www.jewishvirtuallibrary.org/jsource/biography/NelsonPeltz.html |date=December 13, 2014 }} retrieved January 14, 2012
Peltz's father gave him free rein with the company, and over the next 15 years he and his older brother, Robert B. Peltz, grew the business, gradually shifting the product line from produce to institutional frozen foods.{{Cite news| url = https://www.nytimes.com/1988/08/26/business/business-people-sale-won-t-end-career-of-peltz-food-s-owner.html| title = Sale Won't End Career Of Peltz Food's Owner| work = The New York Times| date = August 26, 1988| access-date = February 11, 2017| archive-date = September 13, 2017| archive-url = https://web.archive.org/web/20170913020529/http://www.nytimes.com/1988/08/26/business/business-people-sale-won-t-end-career-of-peltz-food-s-owner.html| url-status = live}} Over the next 10 years, Peltz bought up several food companies, and in 1973, he and his brother together with Peltz's business partner, Peter May, who joined Peltz in 1972, took their company, then called Flagstaff Corp., with $150 million in sales, public. In 1979, Peltz sold Flagstaff's foodservice business division to a group of investors. Two years later, the food service business went bankrupt and the lender asked Peltz to salvage their outstanding loan. Within a year, the loans were repaid as Peltz rebuilt the business.
In the 1980s, Peltz and May, who had joined Flagstaff as Chief Financial Officer (CFO) after having been its accountant, went looking for new acquisitions.{{citation needed|date=April 2022}} In April 1983, the two bought a stake in vending-machine and wire company Triangle Industries Inc. with the idea of using it to make acquisitions, building it into a Fortune 100 industrial company and the largest packaging company in the world.{{cite news|url=https://www.nytimes.com/1986/10/06/business/business-people-companies-built-up-by-buyout-partners.html|title=Companies Built Up By Buyout Partners|newspaper=The New York Times|date=October 6, 1986|access-date=March 8, 2020|archive-date=July 1, 2020|archive-url=https://web.archive.org/web/20200701040929/https://www.nytimes.com/1986/10/06/business/business-people-companies-built-up-by-buyout-partners.html|url-status=live|last1=Cuff|first1=Daniel F.}}{{cite web|url=http://articles.sun-sentinel.com/1988-11-27/business/8803090004_1_billion-packaging-industry-wire-and-cable-triangle-industries|title=Entrepreneurs Turn Tin Into Gold Sale Of Can Firm May Bring Owners $830 Million|work=Sun Sentinel|date=November 27, 1988|access-date=April 6, 2012|archive-date=May 26, 2013|archive-url=https://web.archive.org/web/20130526011005/http://articles.sun-sentinel.com/1988-11-27/business/8803090004_1_billion-packaging-industry-wire-and-cable-triangle-industries|url-status=dead}} Triangle was sold to Pechiney in 1988.{{cite web |url=http://www.alacrastore.com/storecontent/Thomson_M&A/Pechiney_SA_launches_a_tender_offer_for_Triangle_Industries_Inc_from_Trian_Group_LP-108631020 |title=Pechiney SA launches a tender offer for Triangle Industries Inc from Trian Group LP |publisher=Thomson Reuters |date=January 13, 1989 |access-date=July 6, 2015 }}{{Dead link|date=April 2020 |bot=InternetArchiveBot |fix-attempted=yes }}{{Cite news|url=https://www.washingtonpost.com/business/2020/02/18/michael-milken-pardon/|title=Who is Michael Milken, the 'junk bond king' Trump just pardoned?|first=Reis|last=Thebault|newspaper=Washington Post|access-date=February 23, 2020|archive-date=February 23, 2020|archive-url=https://web.archive.org/web/20200223215622/https://www.washingtonpost.com/business/2020/02/18/michael-milken-pardon/|url-status=live}}
In 1997, through an investment vehicle they controlled, Triarc Companies, Inc.,{{Cite news | url = http://hbswk.hbs.edu/item/2752.html | title = How a Juicy Brand Came Back to Life | author = John Deighton | work = Harvard Business School | date = February 4, 2002 | access-date = April 6, 2012 | archive-date = May 11, 2012 | archive-url = https://web.archive.org/web/20120511050412/http://hbswk.hbs.edu/item/2752.html | url-status = live }} Peltz and May acquired Snapple from Quaker Oats. Snapple, together with other beverage brands, was sold to Cadbury Schweppes in 2000. The Snapple turnaround was featured as a Harvard Business School case study. Since May 2022, Peltz has been a non-executive director at Unilever.{{Cite web |date=31 May 2022 |title=Unilever PLC today announces the appointment of Nelson Peltz as a Non-Executive Director of the company |url=https://www.unilever.com/news/press-and-media/press-releases/2022/appointment-of-nonexecutive-director/ |website=Unilever corporate website}} In January 2024, Peltz unsuccessfully self-nominated for a position on the board of Disney.{{Cite web |last=Neelakandan |first=Alex Sherman,Laya |date=2024-01-18 |title=Nelson Peltz states his case for joining the Disney board |url=https://www.cnbc.com/2024/01/18/disney-proxy-fight-nelson-peltz-states-case-for-board-seats.html |access-date=2024-01-19 |website=CNBC |language=en}}
= Trian Partners =
{{Main|Trian Partners}}
In 2005, Peltz, May, and Ed Garden founded Trian Fund Management, L.P. As an activist investing firm, Trian has invested in such companies as Heinz,{{cite web |url=https://www.bloomberg.com/news/2013-02-14/peltz-helped-spur-heinz-turnaround-setting-stage-for-bid.html |title=Peltz Helped Spur Heinz Turnaround Setting Stage for Bid |author=Miles Weiss |publisher=Bloomberg |date=February 14, 2013 |access-date=March 10, 2017 |archive-date=January 10, 2015 |archive-url=https://web.archive.org/web/20150110182703/http://www.bloomberg.com/news/2013-02-14/peltz-helped-spur-heinz-turnaround-setting-stage-for-bid.html |url-status=live }} Cadbury, Kraft Foods,{{cite web | url =http://www.thestreet.com/story/12254102/1/pepsi-challenge-wheres-the-pact-between-mondelez-and-trian.html | title =Pepsi Challenge: Where's the Pact Between Mondelez and Trian? | author =Antoine Gara | publisher =TheStreet.com | date =January 21, 2014 | access-date =March 8, 2014 | archive-date =January 22, 2014 | archive-url =https://web.archive.org/web/20140122054555/http://www.thestreet.com/story/12254102/1/pepsi-challenge-wheres-the-pact-between-mondelez-and-trian.html | url-status =live }} Ingersoll Rand,{{cite web| url =https://www.reuters.com/article/ingersollrand-spinoff-idUSL1E8NA05V20121210| title =Ingersoll-Rand to spin off security business -sources| publisher =Reuters| date =December 9, 2012| access-date =July 1, 2017| archive-date =September 24, 2015| archive-url =https://web.archive.org/web/20150924172519/http://www.reuters.com/article/2012/12/10/ingersollrand-spinoff-idUSL1E8NA05V20121210| url-status =live}} Wendy's,{{Cite web |last=Wiener-Bronner |first=Danielle |date=May 25, 2022 |title=Wendy's puts up the 'for sale' sign as costs rise |url=https://www.cnn.com/2022/05/25/business/wendys-sale/index.html |access-date=May 26, 2022 |website=CNN}} DuPont,{{cite web| url =https://www.bloomberg.com/news/2013-08-15/peltz-s-trian-said-to-meet-dupont-s-ceo-boosts-stake.html| title =Peltz's Trian Said to Meet DuPont's CEO, Boosts Stake| publisher =Bloomberg| author =Jack Kaskey and Beth Jinks| date =August 15, 2013| access-date =March 10, 2017| archive-date =May 13, 2014| archive-url =https://web.archive.org/web/20140513011514/http://www.bloomberg.com/news/2013-08-15/peltz-s-trian-said-to-meet-dupont-s-ceo-boosts-stake.html| url-status =live}} Mondelēz, PepsiCo,{{cite web | url= https://www.economist.com/news/business/21597902-pepsi-challenge-keep-company-one-piece-let-my-fritos-go | title= Let my Fritos go | publisher= The Economist | date= March 1, 2014 | access-date= September 6, 2017 | archive-date= October 7, 2017 | archive-url= https://web.archive.org/web/20171007120044/https://www.economist.com/news/business/21597902-pepsi-challenge-keep-company-one-piece-let-my-fritos-go | url-status= live }} State Street Corporation,{{cite web | url= https://online.wsj.com/news/articles/SB10001424127887323644904578270290507037664 | title= State Street Stake Pared by Activist Investor | author= Sharon Terlep | publisher= The Wall Street Journal | date= January 28, 2013 | access-date= March 14, 2017 | archive-date= December 4, 2014 | archive-url= https://web.archive.org/web/20141204100207/http://online.wsj.com/news/articles/SB10001424127887323644904578270290507037664 | url-status= live }} Procter & Gamble{{cite web|url=https://www.wsj.com/articles/trian-builds-stake-in-procter-gamble-1487107933|title=Trian Builds $3 Billion Stake in P&G|publisher=The Wall Street Journal|date=February 14, 2017|access-date=March 11, 2020|archive-date=November 2, 2019|archive-url=https://web.archive.org/web/20191102040832/https://www.wsj.com/articles/trian-builds-stake-in-procter-gamble-1487107933|url-status=live}} and Family Dollar.{{cite web |url=https://blogs.wsj.com/moneybeat/2014/01/09/family-dollar-next-retailer-up-for-sale/ |title=Family Dollar: Next Retailer Up for Sale? |author=Maureen Farrell |publisher=The Wall Street Journal |date=January 9, 2014 |access-date=August 4, 2017 |archive-date=November 16, 2017 |archive-url=https://web.archive.org/web/20171116040323/https://blogs.wsj.com/moneybeat/2014/01/09/family-dollar-next-retailer-up-for-sale/ |url-status=live }} {{cite web|url=https://variety.com/2024/biz/news/michael-eisner-backs-iger-board-proxy-fight-nelson-peltz-1235949678/|title=Michael Eisner Backs Disney CEO Iger Amid Board Fight With Activist Investors: 'The Company Is Now in Excellent Hands|date=March 22, 2024 |publisher=Variety}}
Personal life
File:Will Peltz and Nicola Peltz at TIFF adjusted.jpg and Nicola, at the 2014 Toronto International Film Festival]]
Peltz has been married three times. In 1964, he married Cynthia Abrams, daughter of Emerson Radio & Phonograph Corporation co-founder Benjamin Abrams;{{Cite news|first= |last= |authorlink= |title= Nuptials at the Plaza For Cynthia Abrams |newspaper=The New York Times|date=June 11, 1964 |url=https://www.nytimes.com/1964/06/11/archives/nuptials-at-the-plaza-for-cynthia-abrams.html |via=}} they divorced in 1981.{{cite book|url=https://books.google.com/books?id=Hm7nTXfisXcC&dq=%22Nelson+Peltz%22+divorced&pg=PT446|first=Michael|last=Gross|authorlink=|title=740 Park: The Story of the World's Richest Apartment Building|pages= |publisher=Crown|date=October 10, 2006|isbn=9780767917445}} They had two children.{{cite news|url = https://www.businessinsider.com/billionaire-nelson-peltz-children-family-nicola-brooklyn-beckham-brad-trian-2023-2|title = Meet the family of billionaire Nelson Peltz: From Brooklyn Peltz Beckham's wife to a former pro-hockey player, here's everything we know about his 10 kids|last1 = Hart|first1 = Jordan|last2 = Nguyen|first2 = Britney|last3 = Mok|first3 = Aaron|work = Business Insider|date = February 9, 2023|accessdate = July 25, 2023}}
In 1985, he married his third wife, Claudia Heffner, a former fashion model, with whom he has eight children.{{Cite news | url = https://money.cnn.com/magazines/fortune/fortune_archive/2007/04/02/8403476/index.htm | title = The Reinvention of Nelson Peltz | author = Shawn Tully | work = CNNMoney.com | date = March 19, 2007 | access-date = August 3, 2020 | archive-date = August 8, 2020 | archive-url = https://web.archive.org/web/20200808071632/https://money.cnn.com/magazines/fortune/fortune_archive/2007/04/02/8403476/index.htm | url-status = live }}Tully, Shawn (March 16, 2007). [https://money.cnn.com/2007/03/15/magazines/fortune/nelson_peltz.fortune/index.htm CNN Money: "The reinvention of Nelson Peltz"] {{Webarchive|url=https://web.archive.org/web/20180910065635/https://money.cnn.com/2007/03/15/magazines/fortune/nelson_peltz.fortune/index.htm |date=September 10, 2018 }} Although Heffner never converted to Judaism,{{cite news |url=https://www.timesofisrael.com/brooklyn-beckham-nicola-peltz-marry-in-jewish-wedding/ |title=Brooklyn Beckham, Nicola Peltz marry in Jewish wedding |newspaper=Times of Israel |date=April 10, 2022 |access-date=April 10, 2022|quote=Both Beckham and Peltz have Jewish heritage through their fathers....although Nelson's wife, former model Claudia Heffner, never converted to Judaism, he is a "devout Jew." }} their sons each had bar mitzvahs.{{cite web|url=https://www.thejc.com/news/the-diary/david-beckham-s-son-brooklyn-engaged-to-american-jewish-heiress-1.501560|title=David Beckham's son Brooklyn engaged to American-Jewish heiress|work=The Jewish Chronicle|first=Jacob|last=Judah|date=July 13, 2020|access-date=August 15, 2020|quote=Nelson Peltz, who has ten children, reportedly spent over $2,000,000 on the barmitzvah of his twin sons in 2016 and is a significant patron for Jewish causes in the US and Israel.}}{{Cite web|first=Molly|last=Creeden|url=https://www.interviewmagazine.com/film/will-peltz|title=Will Peltz|work=Interview|date=November 2, 2014}}
Among Peltz's children are actors Nicola Peltz (born 1995){{cite news|last=Baker|first=Tom|title={{-'}}Airbender' ideal: Sweet but strong|work=Daily Yomiuri Online|date=July 16, 2010|url=http://www.yomiuri.co.jp/dy/features/arts/20100716TDY12T04.htm|access-date=July 20, 2010|archive-date=July 22, 2010|archive-url=https://web.archive.org/web/20100722222043/http://www.yomiuri.co.jp/dy/features/arts/20100716TDY12T04.htm|url-status=live}} and Will Peltz (born 1986). His son Brad Peltz (born 1989) was drafted by the Ottawa Senators hockey team, which Nelson Peltz himself was once rumored to have an interest in buying.{{Cite news|url=http://eurohockey.com/player/508906-brad-peltz.html883 |title=Brad Peltz|access-date=March 12, 2014|publisher=EuroHockey.com}} His daughter Nicola married Brooklyn Beckham, in a Jewish ceremony on April 9, 2022.{{Cite web|url=https://www.timesofisrael.com/david-beckhams-son-transformers-star-to-have-big-jewish-wedding/|title = David Beckham's son, Transformers star to have big Jewish wedding|website = The Times of Israel}}{{cite news |date=April 10, 2022 |title=Brooklyn Beckham, Nicola Peltz marry in Jewish wedding |newspaper=Times of Israel |url=https://www.timesofisrael.com/brooklyn-beckham-nicola-peltz-marry-in-jewish-wedding/ |access-date=April 11, 2022}}
Peltz resides at his home Montsorrel, in Palm Beach, Florida. The property was previously owned by Robert R. Young and his wife Anita.{{cite web | url=https://www.palmbeachpost.com/story/news/local/2022/04/06/facts-site-brooklyn-beckham-nicola-peltz-wedding-florida/9488175002/ | title=Who exactly built Nelson Peltz's Palm Beach mansion, location of Beckham-Peltz wedding? }} In 2015, he began a refurbishment and expansion project for the property.Bandell, B. [http://www.bizjournals.com/southflorida/news/2015/05/08/billionaire-nelson-peltz-inks-big-mortgage-on.html "Billionaire Nelson Peltz inks big mortgage on massive Palm Beach mansion"] {{Webarchive|url=https://web.archive.org/web/20150528202022/http://www.bizjournals.com/southflorida/news/2015/05/08/billionaire-nelson-peltz-inks-big-mortgage-on.html |date=May 28, 2015 }}, South Florida Business Journal, May 8, 2015. Accessed May 28, 2015 He also resides in Bedford, New York.
=Politics=
Peltz has been described as a "notable Republican donor",{{cite news|url = https://www.rollingstone.com/politics/politics-news/joe-manchin-nelson-peltz-trump-donors-fundraiser-1339363/|title =Joe Manchin Hobnobbed With Billionaire Trump Donors at Palm Beach Fundraiser|last = Viallancourt|first = William|date = April 18, 2022|accessdate = July 25, 2023|magazine = Rolling Stone}} though he has described his own sympathies as centrist, saying "this country operates way better between center-right and center-left".{{cite AV media|transcript-url = https://www.cnbc.com/2021/01/07/cnbc-exclusive-cnbc-transcript-trian-partners-ceo-nelson-peltz-speaks-with-cnbcs-sara-eisen-on-closing-bell-today.html|transcript = Trian Partners CEO Nelson Peltz Speaks with CNBC's Sara Eisen on "Closing Bell" Today|title = Closing Bell|work = CNBC|date = January 7, 2021}} He is a longtime friend and supporter of Democratic U.S. Senator Joe Manchin, whom he has credited with "keeping our elected officials somewhere in the middle".{{cite news|url = https://www.rollingstone.com/politics/politics-news/trump-donor-nelson-peltz-call-joe-manchin-1245419/|title = Billionaire Trump Donor Says He Has Joe Manchin's Ear: 'I Call Him Every Week'|last = Wade|first = Peter|date = October 21, 2021|accessdate = July 25, 2023|magazine = Rolling Stone}}
In 2020, Peltz organized a fundraiser in support of the re-election campaign of President Donald Trump, but following the storming of the United States Capitol on January{{nbsp}}6, 2021, Peltz said on CNBC on January{{nbsp}}7, "I voted for [Trump] in this past election in November. Today I'm sorry I did that."{{cite web |last1=Melin |first1=Anders |last2=Pendleton |first2=Devon |title=Billionaires Who Championed Trump Have Now Gone Largely Quiet |url=https://www.bloomberg.com/news/articles/2021-01-08/billionaires-who-championed-trump-have-now-gone-largely-quiet |publisher=Bloomberg News |access-date=January 8, 2021 |date=January 8, 2021}} During the 2024 Republican Party presidential primaries, Peltz was an early supporter of the campaign of Ron DeSantis, though he was later reported to express misgivings over DeSantis' support for banning abortion after the sixth week of pregnancy.{{cite news|url = https://www.sun-sentinel.com/2023/07/24/another-florida-billionaire-hedge-fund-chief-reportedly-rethinking-support-for-ron-desantis-presidential-bid/|title = Another Florida billionaire hedge-fund chief reportedly 'rethinking' support for Ron DeSantis presidential bid|last = Man|first = Anthony|date = July 24, 2023|accessdate = July 25, 2023|newspaper = Sun Sentinel}} After Trump became the presumptive Republican nominee, Peltz said he would reluctantly vote for him, telling the Financial Times that he disagreed with President Joe Biden's immigration policies and expressing skepticism over Biden's age and health.{{cite news|url = https://www.ft.com/content/5c460531-f261-4828-a7ae-6180bb275147|title = Nelson Peltz to vote for Donald Trump over fears of Joe Biden's 'mental condition'|last = Agnew|first = Harriet|date = March 19, 2024|accessdate = March 19, 2024|newspaper = Financial Times|url-access = subscription}}
Wealth and donations
In February 2014, Forbes listed Peltz as one of the 25 highest-earning hedge fund managers in 2013, with total earnings of $430 million, ranked 16th.{{Citation |url=https://www.forbes.com/sites/nathanvardi/2014/02/26/the-highest-earning-hedge-fund-managers-and-traders/ |title=The 25 Highest-Earning Hedge Fund Managers And Traders |date=February 26, 2014 |magazine=Forbes |last=Vardi |first=Nathan |access-date=September 6, 2017 |archive-date=July 29, 2017 |archive-url=https://web.archive.org/web/20170729085722/https://www.forbes.com/sites/nathanvardi/2014/02/26/the-highest-earning-hedge-fund-managers-and-traders/ |url-status=live }}
According to Forbes Magazine, Peltz had a net worth of $1.51 billion as of February 2017. This made him the 432nd-richest person in the US.{{Cite news|url=https://www.forbes.com/profile/nelson-peltz/|title=Nelson Peltz|newspaper=Forbes|access-date=February 20, 2017|language=en|archive-date=February 9, 2017|archive-url=https://web.archive.org/web/20170209093047/http://www.forbes.com/profile/nelson-peltz/|url-status=live}} As of October 2021, his net worth was estimated at US$1.7 billion.{{cite web|title=Forbes profile: Nelson Peltz |url=https://www.forbes.com/profile/nelson-peltz/ |website=Forbes |access-date=October 15, 2021 |archive-date=June 28, 2020|archive-url=https://web.archive.org/web/20200628121640/https://www.forbes.com/profile/nelson-peltz/ |url-status=live}}
In 2005, Peltz was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush.{{cite news |first=Jim |last=Drinkard |title=Donors get good seats, great access this week |url=https://www.usatoday.com/news/washington/2005-01-16-inauguration-donors_x.htm |publisher=USA Today |date=January 17, 2005 |access-date=May 25, 2008 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235354/http://www.usatoday.com/news/washington/2005-01-16-inauguration-donors_x.htm |url-status=live }}{{cite news |title=Financing the inauguration |url=https://www.usatoday.com/news/washington/2005-01-16-inaugural-donors_x.htm |publisher=USA Today |date=January 16, 2005 |access-date=May 25, 2008 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235320/http://www.usatoday.com/news/washington/2005-01-16-inaugural-donors_x.htm |url-status=live }}{{cite news |title=Some question inaugural's multi-million price tag |url=https://www.usatoday.com/news/washington/2005-01-14-price_x.htm |work=USA Today |date=January 14, 2005 |access-date=May 25, 2008 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235330/http://www.usatoday.com/news/washington/2005-01-14-price_x.htm |url-status=live }} He is also a contributor to Jewish causes.{{Cite news|last=Bloom|first=Nate|title=Jewish Stars 7/30|publisher=Cleveland Jewish News|date=July 30, 2010|url=http://www.clevelandjewishnews.com/articles/2010/07/30/arts/jewish_stars/doc4c51f3c711eea026930486.txt|access-date=September 7, 2010}} Peltz has sat on the Board of Trustees of New York-Presbyterian Hospital since 2019.{{cite web|title=Hospital Leadership - Board of Trustees|url=http://nyp.org/about/board-trustees.html|publisher=New York Presbyterian|access-date=July 7, 2019|archive-date=January 28, 2016|archive-url=https://web.archive.org/web/20160128171451/http://nyp.org/about/board-trustees.html|url-status=live}}
= Awards and recognition =
Peltz was said by the National Association of Corporate Directors (NACD) in 2010, 2011, and 2012 to be among the most influential people in global corporate governance.{{cite web |url=https://www.cnbc.com/nelson--peltz/ |title=Nelson Peltz |publisher=CNBC |access-date=March 4, 2014 |archive-date=January 22, 2014 |archive-url=https://web.archive.org/web/20140122222747/http://www.cnbc.com/id/100744213 |url-status=live }}
References
{{reflist|2}}
External links
- [https://www.trianpartners.com Trian Fund Management, L.P. website]
- [http://www.secinfo.com/dsvrh.vbr.c.htm Triarc Companies, Inc. info]
- [http://www.taxexemptworld.com/organization.asp?tn=140029 Nelson and Claudia Peltz Family Foundation Tax Exempt/NonProfit Organization Information]
{{DEFAULTSORT:Peltz, Nelson}}
Category:20th-century American Jews
Category:20th-century American businesspeople
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Category:American billionaires
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Category:Philanthropists from New York (state)
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