8 months ago
Activist investors launch record campaigns in 2025
In 2025, activist investors, who try to make companies better, started a record number of campaigns.
They wanted companies to make changes, like improving operations or selling parts of the business.
The most active investor was Elliott Investment Management, which started 18 campaigns and spent nearly $20 billion.
Many companies, including Lululemon and Lyft, were targeted.
Because of these campaigns, a record 32 CEOs resigned within a year.
This happened because the conditions were good for activists to push for changes, and many companies agreed to work with them.
Activist investors launched a record 255 campaigns in 2025, a 5% increase from 2024.
Elliott Investment Management led with 18 campaigns, spending nearly $20 billion.
The majority of campaigns (141) took place in the United States, a 23% increase from the previous year.
Japan saw a record 56 campaigns, making up half of global activity outside the United States.
A record 32 CEOs resigned within one year of an activist campaign in 2025.
- Who
- Activist investors, including Elliott Investment Management and newcomers
- What
- Launched 255 campaigns against global companies
- Where
- Primarily in the United States (141 campaigns) and Japan (56 campaigns)
- When
- In 2025
- Why
- Due to market volatility, favorable financing conditions, and more deal activity
Key facts
- Total Campaigns
- 255
- Increase from 2024
- 5%
- Previous Record
- 249 (2018)
- Top Activist Investor
- Elliott Investment Management
- Elliott's Campaigns
- 18
- Elliott's Spending
- $20 billion
- CEOs Resigned
- 32
Quotes
Jim Rossman
Global head of shareholder advisory at Barclays
“We went from maximum uncertainty in the first half of 2025 to M&A markets and private equity interest rebounding in the second half of the year, which made it feel like everything is possible.”
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