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FrontRow · Aug 9, 2026

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The billionaire founder of Rockstar Energy has purchased millions of shares of Celsius Holdings and is calling for the ouster of that company’s CEO after its earnings miss this week. Russ Savage now controls more than 12 million shares of Celsius, he told CNBC. Celsius markets its energy drinks to athletes and health-conscious consumers and has exploded in popularity in recent years. Savage founded Rockstar in 2001 and sold it to PepsiCo in 2020 for a final purchase price of more than $4 billion, he said. Savage’s stake in Celsius amounts to roughly 4.7% of the company and would be worth about $300 million at current stock levels. While Savage has been quietly advising Celsius to change its cost structure and marketing strategy for over a year, he now says new leadership is needed.“The CEO, the COO, the brand manager and the marketing manager all need to be fired,” Savage told CNBC.

The billionaire founder of Rockstar Energy has purchased millions of shares of Celsius Holdings and is calling for the ouster of that company’s CEO after its earnings miss this week. Russ Savage now controls more than 12 million shares of Celsius, he told CNBC. Celsius markets its energy drinks to athletes and health-conscious consumers and has exploded in popularity in recent years. Savage founded Rockstar in 2001 and sold it to PepsiCo in 2020 for a final purchase price of more than $4 billion, he said. Savage’s stake in Celsius amounts to roughly 4.7% of the company and would be worth about $300 million at current stock levels. While Savage has been quietly advising Celsius to change its cost structure and marketing strategy for over a year, he now says new leadership is needed.“The CEO, the COO, the brand manager and the marketing manager all need to be fired,” Savage told CNBC.

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