Billionaire Disney insider becomes pivotal figure in Nelson Peltz’s proxy fight

A key question hanging over Disney as it battles a challenge from activist investor Nelson Peltz concerns how many of its shares are held by one of the company’s own employees: Marvel chair Isaac Perlmutter.

Perlmutter, the main backer of Peltz’s push to gain a seat on the Disney board, became the company’s second-largest individual shareholder in 2009 when he sold Marvel to Disney in a cash and stock deal worth $4.2bn. At the time only Steve Jobs held more shares, which he acquired after selling Pixar to Disney.