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Russ Savage, the billionaire founder of energy drink brand Rockstar Energy, has fired some shots at the management of popular energy drink brand Celsius Holdings (CELH). Actually, Savage has been building up his stake in Celsius. After the company’s disappointing Q2 results, leading to an 18.5% intraday drop in CELH’s stock, it was revealed that Savage has built a stake of more than 12 million shares of Celsius. This subsequently led to a 16.8% gain in the stock on Aug. 7.
In the Q2 earnings call, Celsius CEO John Fieldly cited a deliberate cut of items with low ACVs and a planned pause in innovation surrounding its core brand. Fieldly cited this as a rationalization to integrate the Alani Nu brand, which it acquired in 2025, and the Rockstar brand, whose U.S. and Canadian operations were bought from Pepsi (PEP). This is the same brand that Savage founded in 2001 and sold to Pepsi in 2020.
