Nelson Peltz sells his entire stake in Disney just weeks after the billionaire father-in-law of Brooklyn Beckham lost takeover battle with CEO Bog Iger

Billionaire Nelson Peltz's Trian Fund Management has sold its entire stake in Walt Disney after a boardroom battle with the media giant.

Disney shareholders had last month backed CEO Bob Iger and other company directors after a multimillion-dollar, mud-slinging battle launched by Peltz and Blackwells Capital. 

Their campaigns were separate, competing efforts, but both wanted change at the top at Disney. 

The hedge fund was Disney's fifth-biggest shareholder with a 1.77% stake as of March 31, according to LSEG data. 

It sold the stake at close to $120 per share, CNBC reported, adding that Peltz made about $1 billion.

Trian has declined to comment on the report, while Disney did not immediately respond to a request for comment.

Peltz - who is the father-in-law of Brooklyn Beckham - and his Trian Fund's campaign had launched a campaign to win two board seats. 

CEO of Trian Fund Management, and Blackwells were seeking five seats between them on the board, arguing that the media company has botched its CEO succession planning, lost its creative spark and failed to properly harness new technology.

But Iger received the backing of 94 percent of voting shareholders. Peltz was supported by just 31 percent. 

Trian had said it was 'disappointed' with the outcome, but noted that Disney's share price had risen since it launched its campaign. 

Meanwhile Iger is said to be 'overwhelmed and exhausted' after extending his contract for three more years while battling dropping share prices and challenges to his leadership. 

In October, Disney shares tumbled to record lows of $78. Disney shares were $100 apiece at the close of trading on Wednesday. 

In March, Disney lashed out at Peltz's antics with a political-style video trashing the activist shareholder's motivations and qualifications.

In a video released online, Disney said Peltz has a long history of 'attacking companies to the ultimate detriment' of shareholders and said it would be 'disruptive' and 'value-destructive' to include him and crony Jay Rasulo.

'Disney could suffer the same fate as other great companies that Peltz has previously infiltrated, such as G.E. and DuPont. Nelson Peltz has a long history of attacking companies to the ultimate detriment of shareholder value,' the narrator claimed. 

Disney argued that Peltz lacks an understanding of the challenges the company is facing, and that his suggestions for improvement 'are nothing new.' 

Neither Peltz nor Rasulo have the skills to help Disney, the company said.

In September, Iger revealed the company will ' quiet the noise' around cultural issues because it has shown to be bad for business. 

The company has been stuck in a legal battle with the Florida government and Ron DeSantis after former CEO Bob Chapek criticized the so called 'Don't Say Gay' bill.

DeSantis targeted Disney's special tax district, replaced the board of it with his allies and led the charge to change the name from the Reedy District to the Central Florida Tourism Oversight District. 

Before the DeSantis-picked board took control, Disney created development contract for future investments. 

Those were thrown-out by the new board, which led to a federal lawsuit. 

Disney has since dropped a massive chunk of its federal lawsuit against the Florida Governor. 

Iger has extended his contract until 2026 and hinted that he will re-retire at that point, once a proper successor has been found and named.

Meanwhile, Peltz's daughter, Nicola, married Brooklyn Beckham in 2022 and has been accused of having been a 'nightmare bride' in a new documentary about her bitter dispute with her wedding planners.