Cirque du Soleil founder, Guy Laliberte, has announced the sale of his majority stake to the private equity firm TPG Capital. Caesars Acquisition Company, CEO, Mitch Garber, will become their new chairman.

Self made billionaire, Guy Laliberte, has sold off his majority stake in Cirque du Soleil, prompting speculation that he is readying himself to spend even more time helping the impoverished at the helm of his One Drop Foundation.

Laliberte held a 90% stake in the company, he founded back in 1984, after the Canadian government awarded him a $1m contract to perform as part of Canada’s celebration of the 450th anniversary of the discovery of the home of the Mounties.

The former stilt walker, and fire breather, turned that initial investment, into one of the world’s leading entertainment companies, with shows such as Mystere, Ka, Michael Jackson ONE, O, and The Beatles LOVE entertaining over 15 million people each year.