Nelson Peltz
| Nelson Peltz | |
|---|---|
| Born |
June 24, 1942 Brooklyn, New York, U.S. |
| Residence |
Bedford, New York Palm Beach, Florida |
| Alma mater | University of Pennsylvania |
| Occupation | Investor, fund manager, and philanthropist |
| Known for | Founding and leading Trian Fund Management |
| Net worth | US$1.51 billion (February 2016) |
| Board member of |
Wendy's Company (Chairman) Mondelēz International Inc. Ingersoll Rand plc Legg Mason, Inc. |
| Spouse(s) | wife 1 (divorced) wife 2 (divorced) Claudia Heffner |
| Children | 10 (8 with Heffner) |
Nelson Peltz (born June 24, 1942) is an American investor, fund manager, and philanthropist. He is a founding partner, together with Peter W. May and Edward P. Garden, of Trian Fund Management. L.P., an alternative investment management fund, based in New York. He is non-executive chairman of the Board of The Wendy's Company and a director of Legg Mason,Mondelēz International and Ingersoll Rand. He was formerly a director of H.J. Heinz Company. He was also formerly the Chief Executive Officer of Triangle Industries.
Peltz was born in 1942 in Brooklyn, New York, and is Jewish, the son of Claire (née Wechsler) and Maurice Herbert Peltz. Peltz was enrolled at the undergraduate program at the Wharton School of the University of Pennsylvania, where he joined the Fraternity of Phi Gamma Delta, but never completed his degree.
In 1963, he dropped out of the University of Pennsylvania’s 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 frozen food (Snow Top) to restaurants in New York.
His 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 1972, he and his brother took their company, then called Flagstaff Corp., with $150 million in sales, public. In 1982 his brother Robert bought back the assets of Peltz Food from Flagstaff after it went bankrupt.
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. Triangle was sold to Pechiney in 1988.
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