Try an alternative suggestion too:
private void button1_Click( object sender, EventArgs e )
{
var r = listBox1.Items
.Cast<string>( )
.Select( i => i.Split( ',' ).Select( n => string.Concat( n.Trim( ).OrderBy( c => c ) ) ) )
.SelectMany( a => a )
.GroupBy( n => n )
.Select( g => new { n = g.Key, c = g.Count( ) } );
listBox2.Items.AddRange( r.Select( z => $"{z.n} = {z.c}" ).ToArray( ) );
}