|Born||June 24, 1942|
New York City, U.S.
|Occupation||Businessman; chairman of Wendy's Company|
|Known for||Founder of Trian Fund Management|
|Board member of||Wendy's Company|
Procter & Gamble
The Madison Square Garden Company 
|Children||10, including Nicola Peltz and Will Peltz|
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 Fund Management, an alternative investment management fund based in New York. He is non-executive chairman of Wendy's Company, Procter & Gamble, Sysco, and The Madison Square Garden Company. He is a former director of H.J. Heinz Company, Mondelēz International, and Ingersoll Rand and a former CEO of Triangle Industries.
As of October 2021, his net worth was estimated at US$1.7 billion.
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). He was the second of their two children, and grew up in the Cypress Hills section of Brooklyn, a sub-section of the East New York neighborhood.
He attended Horace Mann School in the Bronx. 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, but dropped out in 1963 and never completed a degree.
In 1963, Peltz dropped out of the Wharton School with the intention of becoming a ski instructor in Oregon. However, he ended up driving a delivery truck for A. Peltz & Sons, a wholesale food distribution business founded by his grandfather, Adolph, in 1896, which delivered fresh produce and Snow Crop brand frozen food to restaurants in New York.
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. 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 foodservice 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 his business partner, Peter May, who had joined Flagstaff as chief financial officer after having been its accountant, went looking for new acquisitions. 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. Triangle was sold to Pechiney in 1988.
Triarc Companies, Inc
In 1997, through an investment vehicle they controlled, Triarc Companies, Inc., 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.
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, Cadbury, Kraft Foods, Ingersoll Rand, Wendy's, DuPont, Mondelēz, PepsiCo, State Street Corporation, Procter & Gamble and Family Dollar.
In 2007, Trian bought a 3% share of Cadbury-Schweppes (Dr Pepper Snapple). Cadbury Schweppes Americas Beverages was later spun off from the Cadbury Schweppes confectionery group. In 2007, Trian also bought $1.8 billion in shares of Kraft Foods, roughly 3% of the total equity of the food maker.
In April 2008, it was announced that Triarc Cos. would merge with burger chain Wendy's. The merger was completed on September 29, 2008. The new company was named Wendy's Arby's Group and traded on the New York Stock Exchange under the symbol WEN. On July 25, 2011, Wendy's Arby's sold Arby's to Roark Capital Group and changed its name to The Wendy's Company. According to CNBC, on February 15, 2011, Trian offered to buy Family Dollar for $55–60 per share.
In February 2011, Trian announced it had accumulated an 8% stake in the Family Dollar company and indicated a willingness to participate in a take private LBO for the company with a total value of about $7 to $8 billion. This overture was rejected by the company management and board of directors. In September 2011, Ed Garden, Trian's Chief Investment Officer, joined the Family Dollar board.
Peltz was appointed to the Ingersoll-Rand board of directors in 2012. The company announced major initiatives to enhance shareholder value in late 2012. In 2014, Peltz resigned from the Ingersoll-Rand board, after the spin-off of Allegion.
In January 2014, as one of the company's largest shareholders, with a current beneficial ownership of more than 46 million shares, Peltz was appointed to the board of directors of global snacking company, Mondelēz International.
In February 2014, as a beneficial owner of approximately $1.2 billion of PepsiCo, Inc. common shares, Trian publicly released a letter to PepsiCo's board of directors and a white paper detailing why separating global snacks and beverages into two independent public companies would be the right long-term decision for the business and would create substantial value for shareholders. Trian said it would immediately begin to engage fellow shareholders in a public dialogue with the goal of creating a groundswell of support for a separation of snacks and beverages.
In May 2015, Trian was unsuccessful in a bitter proxy contest to appoint four of its nominees to the board of DuPont. Five months later the CEO of DuPont, Ellen Kullman, resigned; at the time DuPont acknowledged lower than expected earnings and the need to accelerate a cost-cutting plan.
Procter & Gamble
In October 2017, Peltz tried but failed to acquire a seat on the board of Procter & Gamble, in which Trian has a 1.5% stake. On November 15, 2017, it was discovered that per a revision of all votes, which Peltz acknowledged to have resulted in a remarkably close battle, Peltz had in fact won the proxy battle, recognized as the largest in corporate history. On December 15, Procter & Gamble named Peltz to its board, although it stated that Peltz had nominally lost the proxy vote.
In February 2018, Peltz announced his departure from the board of Mondelez International, to be succeeded by Trian partner Peter May. In March 2018, Peltz joined the Procter & Gamble board of directors.
In March 2019, Peltz joined Canadian cannabis producer Aurora Cannabis. In June 2019, Peltz's Trian announced an investment in Ferguson, plc, a distributor of plumbing and heating products in North America.
Peltz has been married three times. His third wife is Claudia Heffner, a former fashion model, with whom he has eight children. He has two children from his first marriage. Among Peltz's children are actors Nicola Peltz and Will Peltz. His son Brad Peltz was drafted by the Ottawa Senators hockey team, which Nelson Peltz himself was once rumored to have an interest in buying.
Peltz resides at his home Montsorrel, in Palm Beach, Florida. Montsorrel was previously owned by Anita Young, the sister of Georgia O'Keeffe. In 2015, he began a refurbishment and expansion project for the property. He also resides in Bedford, New York.
In 2020, Peltz organized a fundraiser in support of the re-election of President Donald Trump, but following the storming of the United States Capitol on January 6, 2021, Peltz said on CNBC on January 7, "I voted for [Trump] in this past election in November. Today I'm sorry I did that."
Wealth and philanthropy
In 2005, Peltz was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush. He is also a contributor to Jewish causes. Peltz has sat on the Board of Trustees of New York-Presbyterian Hospital since 2019.
Awards and recognition
- "Biography Nelson Peltz". Wendy's. Archived from the original on March 24, 2017. Retrieved April 5, 2012.
- "Sysco elects activist investor to board". Houston Business Journal. August 21, 2015. Archived from the original on August 24, 2015. Retrieved March 5, 2020.
- "Madison Square Garden to Explore Split, Nominates Nelson Peltz to Board". The Wall Street Journal. October 28, 2014. Archived from the original on September 11, 2018. Retrieved March 5, 2020.
- Shawn Tully (March 19, 2007). "The Reinvention of Nelson Peltz". CNNMoney.com. Archived from the original on August 8, 2020. Retrieved August 3, 2020.
- "Company Overview of Trian Fund Management, L.P." Bloomberg Businessweek. Archived from the original on October 18, 2012. Retrieved April 4, 2012.
- Duane D. Stanford (January 21, 2014). "Mondelez Names Peltz Director as Investor Seen Pushing Cuts". Bloomberg.com. Bloomberg. Archived from the original on 2014-08-18. Retrieved 2017-03-10.
- Anupreeta Das and Sharon Terlep (August 13, 2012). "Activist Peltz Wins Board Seat At Ingersoll". The Wall Street Journal. Archived from the original on March 7, 2014. Retrieved March 14, 2017.
- "Fortune 500". Fortune. Archived from the original on May 1, 2012. Retrieved April 3, 2012.
- "Forbes profile: Nelson Peltz". Forbes. Archived from the original on 28 June 2020. Retrieved 15 October 2021.
- New York, New York, Birth Index, 1910–1965
- Jewish Virtual Library: "Nelson Peltz" by Nancy A. Ruhling Archived 2014-12-13 at the Wayback Machine retrieved January 14, 2012
- "Maurice Peltz, 76, Built Family Food Business Into a Major Marketer". The New York Times. 1977-09-06. Archived from the original on 2018-07-23. Retrieved 2018-07-23.
- "Paid Notice: Deaths Peltz, Claire". The New York Times. 2007-04-12. Archived from the original on 2012-11-10. Retrieved 2017-02-11.
- Current Biography Yearbook. H. W. Wilson Company. 2008.
- Bruck, Connie (February 4, 2020). The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the Junk Bond Raiders. Simon and Schuster. ISBN 9781982144265 – via Google Books.
- "Wall Street Frats". Business Insider. Archived from the original on 16 February 2013. Retrieved 20 February 2013.
- Big Data Revolution: What farmers, doctors and insurance agents teach us about discovering big data patterns. John Wiley & Sons. 5 January 2015. ISBN 9781118943731. Archived from the original on 2020-10-27. Retrieved 2020-09-03.
- "17 Fraternities With Top Wall Street Alumni". Business Insider. Archived from the original on 2020-10-27. Retrieved 2020-09-03.
- Katherine Burton and Sree Vidya Bhaktavatsalam (September 20, 2012). "Peltz Gets $1 Billion as Activist Strategy Impresses". Bloomberg News. Archived from the original on 2015-01-25. Retrieved 2017-03-10.
- Palm Beach Daily News: "Matisse - The Younger Coming" by Cholly Knickerbocker January 15, 1952 | "Frozen food heiress Gladys Peltz (Poppa owns Snow Crop)..."
- "Sale Won't End Career Of Peltz Food's Owner". The New York Times. August 26, 1988. Archived from the original on September 13, 2017. Retrieved February 11, 2017.
- Cuff, Daniel F. (October 6, 1986). "Companies Built Up By Buyout Partners". The New York Times. Archived from the original on July 1, 2020. Retrieved March 8, 2020.
- "Entrepreneurs Turn Tin Into Gold Sale Of Can Firm May Bring Owners $830 Million". Sun Sentinel. November 27, 1988. Archived from the original on 2013-05-26. Retrieved 2012-04-06.
- "Pechiney SA launches a tender offer for Triangle Industries Inc from Trian Group LP". Thomson Reuters. January 13, 1989. Retrieved July 6, 2015.[permanent dead link]
- Thebault, Reis. "Who is Michael Milken, the 'junk bond king' Trump just pardoned?". Washington Post. Archived from the original on 2020-02-23. Retrieved 2020-02-23.
- John Deighton (February 4, 2002). "How a Juicy Brand Came Back to Life". Harvard Business School. Archived from the original on May 11, 2012. Retrieved April 6, 2012.
- Miles Weiss (February 14, 2013). "Peltz Helped Spur Heinz Turnaround Setting Stage for Bid". Bloomberg. Archived from the original on 2015-01-10. Retrieved 2017-03-10.
- Antoine Gara (January 21, 2014). "Pepsi Challenge: Where's the Pact Between Mondelez and Trian?". TheStreet.com. Archived from the original on January 22, 2014. Retrieved March 8, 2014.
- "Ingersoll-Rand to spin off security business -sources". Reuters. December 9, 2012. Archived from the original on September 24, 2015. Retrieved July 1, 2017.
- Michelle Celarier (August 15, 2013). "Peltz dines on Wendy's stake". New York Post. Archived from the original on October 7, 2017. Retrieved December 20, 2017.
- Jack Kaskey and Beth Jinks (August 15, 2013). "Peltz's Trian Said to Meet DuPont's CEO, Boosts Stake". Bloomberg. Archived from the original on 2014-05-13. Retrieved 2017-03-10.
- "Let my Fritos go". The Economist. March 1, 2014. Archived from the original on October 7, 2017. Retrieved September 6, 2017.
- Sharon Terlep (January 28, 2013). "State Street Stake Pared by Activist Investor". The Wall Street Journal. Archived from the original on December 4, 2014. Retrieved March 14, 2017.
- "Trian Builds $3 Billion Stake in P&G". The Wall Street Journal. February 14, 2017. Archived from the original on November 2, 2019. Retrieved March 11, 2020.
- Maureen Farrell (January 9, 2014). "Family Dollar: Next Retailer Up for Sale?". The Wall Street Journal. Archived from the original on November 16, 2017. Retrieved August 4, 2017.
- Dan Burrows (August 14, 2006). "Heinz proxy fight comes down to the wire". MarketWatch.com. Archived from the original on 2012-12-04. Retrieved 2012-04-06.
- Shawn Tully and Matthew Boyle (June 25, 2007). "Peltz Has His Slice of Kraft - Now what?". CNNMoney.com. Archived from the original on August 25, 2013. Retrieved August 3, 2020.
- Josh Fineman and Zachary Mider (April 24, 2008). "Peltz's Triarc to Buy Wendy's, Combine It With Arby's". Bloomberg.
- "Triarc and Wendy's Complete Merger Transaction". Business Wire. September 29, 2008. Archived from the original on December 4, 2012. Retrieved April 6, 2012.
- "Wendy's/Arby's Group Completes Sale of Arby's to Roark Capital Group". Wendy's. July 5, 2011. Archived from the original on September 18, 2011. Retrieved April 6, 2012.
- Chris Burritt (March 3, 2011). "Family Dollar Rejects Buyout Offer From Peltz's Trian, Adopts Poison Pill". Bloomberg. Archived from the original on 2016-05-27. Retrieved 2017-03-10.
- "Family Dollar Appoints Edward Garden of Trian Partners to Board of Directors". Bloomberg. September 29, 2011. Archived from the original on October 27, 2020. Retrieved March 10, 2017.
- Das, Anupreeta; Terlep, Sharon (August 13, 2012). "Activist Peltz Wins Board Seat At Ingersoll". The Wall Street Journal. p. B1.
- "Peltz Won't Stand for Re-Election to Ingersoll-Rand Board". The Wall Street Journal. March 31, 2014. Archived from the original on September 9, 2018. Retrieved March 11, 2020.
- "Activist investor Nelson Peltz joins Mondelez board". ChicagoTribune. Archived from the original on 27 January 2014. Retrieved 7 February 2014.
- Matt Egan (January 21, 2014). "Proxy War Averted: Mondelez Adds Activist Nelson Peltz to Board". Fox Business Network. Archived from the original on March 26, 2014. Retrieved March 12, 2014.
- Duane D. Stanford (February 20, 2014). "Peltz Renews PepsiCo Breakup Proposal in Rebuke of CEO Nooyi". Bloomberg. Archived from the original on 2014-09-01. Retrieved 2017-03-10.
- Siddharth Cavale (February 20, 2014). "Nelson Peltz revives campaign to split up PepsiCo". Reuters. Archived from the original on September 24, 2015. Retrieved July 1, 2017.
- Bunge, Jacob (May 13, 2015). "DuPont Defeats Peltz, Trian in Board Fight - WSJ". wsj.com. Archived from the original on May 14, 2015. Retrieved May 14, 2015.
- Merced, Michael J. De La (2015-10-05). "DuPont Chief Executive Ellen Kullman to Retire". The New York Times. ISSN 0362-4331. Archived from the original on 2015-10-05. Retrieved 2015-10-06.
- "Nelson Peltz's Trian takes $2.5 billion stake in General Electric". Reuters. 5 October 2015. Archived from the original on 2 November 2015. Retrieved 1 July 2017.
- "An epic but inconsequential proxy vote at Procter & Gamble". The Economist. 12 October 2017. Archived from the original on 13 October 2017. Retrieved 13 October 2017.
- "P&G Names Activist Nelson Peltz to Board After Proxy Battle". Bloomberg.com. 2017-12-15. Archived from the original on 2018-03-19. Retrieved 2018-03-19.
- "Peltz steps down from Mondelez board, Trian president to take seat". Reuters. 2018-02-13. Archived from the original on 2018-02-13. Retrieved 2018-02-13.
- Orol, Ronald (March 1, 2018). "Nelson Peltz Begins Showdown Over P&G CEO, R&D". The Street. Archived from the original on 31 March 2018. Retrieved 30 March 2018.
- Dan, Avi (March 9, 2018). "P&G's Marc Pritchard Puts Agencies On Notice". Forbes. Archived from the original on 31 March 2018. Retrieved 30 March 2018.
- "Nelson Peltz Likes the Look of American Plumbing". Bloomberg L.P. June 13, 2019. Archived from the original on 2019-06-30. Retrieved 2020-03-13.
- Tully, Shawn (March 16, 2007). CNN Money: "The reinvention of Nelson Peltz" Archived 2018-09-10 at the Wayback Machine
- Baker, Tom (2010-07-16). "'Airbender' ideal: Sweet but strong". Daily Yomiuri Online. Archived from the original on 2010-07-22. Retrieved 2010-07-20.
- "Matthew William Cooper Peltz - IMDb". Internet Movie Database (IMDb). Archived from the original on February 11, 2012. Retrieved April 2, 2012.
- "Brad Peltz". EuroHockey.com. Retrieved March 12, 2014.
- Bandell, B. "Billionaire Nelson Peltz inks big mortgage on massive Palm Beach mansion" Archived 2015-05-28 at the Wayback Machine, South Florida Business Journal, 8 May 2015. Accessed 28 May 2015
- Melin, Anders; Pendleton, Devon (January 8, 2021). "Billionaires Who Championed Trump Have Now Gone Largely Quiet". Bloomberg News. Retrieved 8 January 2021.
- Vardi, Nathan (Feb 26, 2014), "The 25 Highest-Earning Hedge Fund Managers And Traders", Forbes, archived from the original on July 29, 2017, retrieved September 6, 2017
- "Nelson Peltz". Forbes. Archived from the original on 2017-02-09. Retrieved 2017-02-20.
- Drinkard, Jim (2005-01-17). "Donors get good seats, great access this week". USA Today. Archived from the original on 2012-06-28. Retrieved 2008-05-25.
- "Financing the inauguration". USA Today. 2005-01-16. Archived from the original on 2012-06-28. Retrieved 2008-05-25.
- "Some question inaugural's multi-million price tag". USA Today. 2005-01-14. Archived from the original on 2012-06-28. Retrieved 2008-05-25.
- Bloom, Nate (2010-07-30). "Jewish Stars 7/30". Cleveland Jewish News. Retrieved 2010-09-07.
- "Hospital Leadership - Board of Trustees". New York Presbyterian. Archived from the original on 28 January 2016. Retrieved 7 July 2019.
- "Nelson Peltz". CNBC. Archived from the original on January 22, 2014. Retrieved March 4, 2014.