Nelson Peltz says he connected Elon Musk with Donald Trump: 'I was a matchmaker'

By: Shawn
Nelson Peltz, an activist investor, says reconnected Tesla CEO Elon Musk with President-elect Donald Trump. He hosted the two for brunch in late spring, months before Musk began supporting Trump's campaign.

Nelson Peltz, Elon Musk, Nicola Peltz Beckham and Will Peltz attend the premiere of 'Lola' at Regency Bruin Theatre on February 3, 2024 in Los Angeles, California.
Frazer Harrison/Getty Images

Peltz, speaking at CNBC's Delivering Alpha Conference in lower Manhattan on Wednesday, said he is a personal friend of Musk's and that he and his son Diesel (a tech startup) welcomed the pair.

"Elon was at the house for the weekend, and we had breakfast and invited Donald to breakfast, and they sort of reunited again," Peltz told CNBC's Sara Eisen on stage. "I was a matchmaker." That was late last spring, and since then, I'm not sure Donald would have won so convincingly without Elon. Elon was in Pennsylvania, and I assumed he was going to be Amish. He was there full-time."

Peltz expressed optimism about Musk's new post in the administration as co-head of the "Department of Government Efficiency."

"If Donald gives him the opportunity, he will reduce costs. And that's what we have to do," he continued. "We need to cut costs."

Peltz also talked about his failed proxy fight against The Walt Disney Co. earlier this year, joking that he might make another run at the company if the stock price falls low enough, and predicting that the company will name a successor to CEO Bob Iger before the end of next year, not 2026, as chairman James Gorman previously indicated.

"The index funds didn't want me to win; the index funds get paid a lot of money from Disney, and they didn't want me to win," Peltz said, adding that he bought the stock in the 1980s and sold it all for $119. "It wasn't much of a celebration with the victory, because it went back down to the 80s, and now it's getting close to 100 again."

When Eisen asked if he might make another bid at the company, Peltz didn't rule it out: "If the stock goes back to the 80s, I'll be back." "You can depend on me," he said, laughing.

Peltz pointed out that he is certain Gorman is capable of selecting the ideal candidate for the CEO position, but he thinks Disney will appoint a successor to Iger next year rather than in 2026.

"I know Gorman. He is a good individual, and he will perform an excellent job. "And he'll get a respectable CEO," Peltz remarked. "The last two CEOs, Iger and Michael Eisner, I don't know what happens in that office at Disney, if you're there for a couple of years, you think your name is Walt Disney."

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