The investment comes after Starboard Value's undisclosed stake in the company in October.
It is currently unknown what changes Elliott, a prominent activist investor, hopes to push for at Salesforce. However, Jesse Cohn, managing partner at Elliott, stated that they "look forward to working constructively with Salesforce to realize the value befitting a company of its stature."
Salesforce has had a difficult year, with plans to cut jobs by 10% and close some offices due to rapid pandemic hiring resulting in a bloated workforce. Despite this, shares of the company rose more than 3% in premarket trading following the announcement of Elliott's investment.