Activist Investor Elliott Management has taken a substantial stake in business software provider, Salesforce. However, they haven’t disclosed any details regarding the investment, which was initially reported by the Wall Street Journal in a statement.
The managing partner at Elliott, Jesse Cohn said, “Salesforce is one of the preeminent software companies in the world, and having followed the company for nearly two decades, we have developed a deep respect for Marc Benioff and what he has built. We look forward to working constructively with Salesforce to realize the value befitting a company of its stature.”
Benioff co-founded Salesforce and is currently leading the company jointly with Bret Taylor. It is also reported by CNBC that activist investor Jeff Ubben’s Inclusive Capital Partners also took a stake in Salesforce.
Elliott, who has been known to push for changes at big tech companies like PayPal Holdings Inc, Western Digital Corp. & more is the second activist investor in recent months to get into Salesforce stock!
Talking about Salesforce, it has been quite a turbulent stretch for them. In January 2023, the company said it would cut approx. 10 % of its workforce and reduce its real estate footprint!
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