Bill Ackman: Difference between revisions

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| education    = [[Harvard University]] (BA, MBA)
| education    = [[Harvard University]] (BA, MBA)
| occupation  = Hedge fund manager
| occupation  = Hedge fund manager
| known_for    = Founder and CEO of [[Pershing Square Capital Management]]
| title        = Founder and CEO, [[Pershing Square Capital Management]]
| title        = CEO of Pershing Square Capital Management
| known_for    = Activist investing, Pershing Square Capital Management
| spouse      = Karen Herskovitz (m. 1994; div.)<br>[[Neri Oxman]] (m. 2019)
| spouse      = Karen Ann Herskovitz (m. 1994; div.)<br>[[Neri Oxman]] (m. 2019)
| website      = {{URL|https://www.pershingsquareholdings.com/}}
| website      = {{URL|https://www.pershingsquareholdings.com/}}
}}
}}


'''William Albert Ackman''' (born May 11, 1966), known as '''Bill Ackman''', is an American billionaire hedge fund manager, investor, and philanthropist. He is the founder and chief executive officer of [[Pershing Square Capital Management]], a hedge fund and investment management firm based in New York City. Over the course of a career spanning more than three decades, Ackman has become one of the most prominent figures on [[Wall Street]], known for his activist investment strategies, large concentrated bets on public companies, and willingness to engage in high-profile public disputes over corporate governance and valuation. His investment career has been marked by both spectacular successes—including profitable positions in companies such as [[Canadian Pacific Railway]] and [[Chipotle Mexican Grill]]—and costly failures, most notably a protracted short position against [[Herbalife]] and a significant loss on [[Valeant Pharmaceuticals]]. Beyond finance, Ackman has drawn attention for his philanthropy, his outspoken commentary on social and political issues, and his increasing engagement in national politics. In recent years, he has taken prominent public positions on university campus culture, support for [[Israel]], and American fiscal policy, becoming a frequent voice on social media and in national news coverage.<ref>{{cite web |title=Pershing Square Holdings |url=https://www.pershingsquareholdings.com/ |publisher=Pershing Square Holdings |access-date=2026-02-23}}</ref><ref>{{cite web |title=Bill Ackman Biography |url=http://www.law.harvard.edu/programs/corp_gov/bio_Ackman.shtml |publisher=Harvard Law School |access-date=2026-02-23}}</ref>
'''William Albert Ackman''' (born May 11, 1966), known as '''Bill Ackman''', is an American billionaire [[hedge fund]] manager, [[activist investor]], and philanthropist. He is the founder and chief executive officer of [[Pershing Square Capital Management]], a [[New York City]]-based investment management company.<ref name="PershingSquare">{{cite web |title=Pershing Square Holdings |url=https://www.pershingsquareholdings.com/ |publisher=Pershing Square Holdings |access-date=2026-02-23}}</ref> Ackman has built a career around large, concentrated bets on publicly traded companies, frequently taking activist positions to push for changes in corporate governance, strategy, and management. His high-profile campaigns—both successful and unsuccessful—have made him one of the most closely watched figures on [[Wall Street]]. Ackman's investment record includes prominent wins in companies such as [[Canadian Pacific Railway]] and notable losses in positions including [[Valeant Pharmaceuticals]] and [[J.C. Penney]].<ref name="CNBCReturns">{{cite web |title=Ackman's returns make him a top 20 fund manager |url=https://www.cnbc.com/2015/01/26/ackmans-returns-make-him-a-top-20-fund-manager.html |publisher=CNBC |date=2015-01-26 |access-date=2026-02-23}}</ref> A long-time donor to [[Democratic Party (United States)|Democratic]] candidates and organizations, Ackman shifted his political alignment in 2024 when he endorsed [[Donald Trump]] in the [[2024 United States presidential election]]. In recent years, Ackman has become an increasingly vocal public commentator on politics, higher education, and geopolitics, particularly following the October 7, 2023, attacks on Israel. As of early 2026, Pershing Square's portfolio has included significant positions in technology companies, with Ackman making headlines for a large new stake in [[Meta Platforms]].<ref name="CNBCMeta">{{cite news |title=Bill Ackman reveals stake in Meta, says it has 'deeply discounted valuation' |url=https://www.cnbc.com/2026/02/11/bill-ackman-meta-valuation.html |work=CNBC |date=2026-02-11 |access-date=2026-02-23}}</ref>


== Early Life ==
== Early Life ==


William Albert Ackman was born on May 11, 1966, in [[Chappaqua, New York]], an affluent hamlet in [[Westchester County]]. His father, Lawrence D. Ackman, was the chairman of a New York real estate financing firm, Ackman-Ziff Real Estate Group. The elder Ackman had married Ronnie I. Posner in 1963.<ref>{{cite news |date=1963-10-07 |title=Miss Ronnie I. Posner Bride of L.D. Ackman |url=https://www.nytimes.com/1963/10/07/archives/miss-ronnie-i-posner-bride-of-ld-ackman.html |work=The New York Times |access-date=2026-02-23}}</ref> Growing up in a family deeply connected to the real estate industry, Ackman was exposed from an early age to the dynamics of deal-making, financial analysis, and property markets. His upbringing in the prosperous suburbs of New York provided him with both the educational opportunities and the social networks that would later prove instrumental in his career in finance.
William Albert Ackman was born on May 11, 1966, in [[Chappaqua, New York]], an affluent hamlet in [[Westchester County, New York|Westchester County]].<ref name="PershingFoundation">{{cite web |title=Our Founders |url=http://pershingsquarefoundation.org/fund/our-founders/ |publisher=Pershing Square Foundation |access-date=2026-02-23}}</ref> He grew up in a Jewish family with roots in the New York business community. His father, Lawrence D. Ackman, was a real estate financier who served as chairman of a New York mortgage company. The elder Ackman married Ronnie I. Posner in 1963.<ref name="NYTAckmanWedding1963">{{cite news |title=Miss Ronnie I. Posner Bride of L.D. Ackman |url=https://www.nytimes.com/1963/10/07/archives/miss-ronnie-i-posner-bride-of-ld-ackman.html |work=The New York Times |date=1963-10-07 |access-date=2026-02-23}}</ref>


Ackman has described himself as having been competitive and intellectually ambitious from a young age. He attended local schools in the Chappaqua area before pursuing higher education at [[Harvard University]]. His family background in Jewish-American life has remained a visible aspect of his public identity, and he has spoken publicly about his Jewish heritage on numerous occasions, particularly in the context of his philanthropic work and, more recently, his commentary on antisemitism and support for Israel.<ref>{{cite web |title=Jewish Billionaires Join Group Pledging Majority of Their Wealth to Charity |url=http://jewishvoiceny.com/index.php?view=article&catid=96:business&id=995:jewish-billionaires-join-group-pledging-majority-of-their-wealth-to-charity&tmpl=component&print=1&page=&option=com_content&Itemid=279 |publisher=Jewish Voice |access-date=2026-02-23}}</ref>
Growing up in an environment steeped in real estate and finance, Ackman developed an early interest in investing and business. The Ackman family's connection to the real estate industry in New York would later influence Bill Ackman's early career choices and his initial focus on real estate-related investments. Chappaqua, a suburb of New York City known for its highly ranked public schools, provided a stable and privileged upbringing.
 
Ackman has described his father as a significant influence on his career, crediting him with instilling an understanding of business and deal-making from a young age. The competitive drive and analytical temperament that would later define Ackman's approach to activist investing were evident during his formative years.


== Education ==
== Education ==


Ackman attended [[Harvard University]], where he earned a [[Bachelor of Arts]] degree. He subsequently returned to Harvard to attend [[Harvard Business School]], where he received his [[Master of Business Administration]] degree. His time at Harvard proved formative, exposing him to both rigorous academic training in finance and economics and a network of future business leaders and investors. Ackman has frequently credited his education at Harvard with shaping his analytical approach to investing and his belief in the power of deep fundamental research.<ref>{{cite web |title=Bill Ackman Biography |url=http://www.law.harvard.edu/programs/corp_gov/bio_Ackman.shtml |publisher=Harvard Law School |access-date=2026-02-23}}</ref>
Ackman attended [[Harvard College]], where he earned a [[Bachelor of Arts]] degree. He subsequently enrolled at [[Harvard Business School]], graduating with a [[Master of Business Administration]] (MBA).<ref name="HarvardBio">{{cite web |title=Bio: Bill Ackman |url=http://www.law.harvard.edu/programs/corp_gov/bio_Ackman.shtml |publisher=Harvard Law School Program on Corporate Governance |access-date=2026-02-23}}</ref> His time at Harvard shaped his intellectual framework for investing and provided him with connections to other future figures in the financial world.
 
Ackman's Harvard education has remained a significant part of his public identity. He has maintained ties with the university throughout his career, though in more recent years his relationship with the institution became strained amid his public criticisms of Harvard's leadership during the 2023–2024 campus controversies surrounding the [[Israel–Hamas war]].


== Career ==
== Career ==
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=== Early Career and Gotham Partners ===
=== Early Career and Gotham Partners ===


After completing his MBA at Harvard Business School, Ackman co-founded Gotham Partners Management in 1992 with a fellow Harvard Business School graduate. The firm focused on investments in both public and private markets, with a particular emphasis on real estate and special situations. Gotham Partners attracted early attention for its aggressive investment style and its willingness to take concentrated positions.
After completing his MBA at Harvard Business School, Ackman entered the investment world. In 1992, he co-founded Gotham Partners Management, a small investment firm, along with fellow Harvard graduate David P. Berkowitz. Gotham Partners focused on investments in public and private companies, with an emphasis on real estate-related enterprises. The firm attracted attention in the financial press for its ambitious approach, with a young Ackman quickly establishing a reputation as an aggressive and analytically rigorous investor.<ref name="WashPostRookie">{{cite news |title=The Rookies' Big Score |url=https://www.washingtonpost.com/archive/business/1994/07/10/the-rookies-big-score/2e22cacf-a4e4-445c-a077-19518bcddbf9/ |work=The Washington Post |date=1994-07-10 |access-date=2026-02-23}}</ref>
 
Gotham Partners grew during the 1990s but eventually encountered difficulties. The firm's investments in certain illiquid assets and concentrated positions led to challenges as market conditions shifted. By the early 2000s, Gotham Partners faced investor redemption requests and regulatory scrutiny, and the firm was ultimately wound down. The experience, while painful, provided Ackman with hard-earned lessons about liquidity risk, portfolio concentration, and investor relations that would inform the structure of his next venture.
 
=== Pershing Square Capital Management ===
 
In 2004, Ackman founded [[Pershing Square Capital Management]], which would become one of the most prominent activist hedge funds in the world.<ref name="PershingSquare" /> The firm's name was drawn from [[Pershing Square (Manhattan)|Pershing Square]], a public plaza adjacent to [[Grand Central Terminal]] in [[Manhattan]]. Pershing Square Capital Management was structured to pursue a concentrated portfolio strategy, typically holding significant positions in a small number of publicly traded companies where Ackman identified opportunities for value creation through operational improvements, strategic changes, or governance reforms.
 
Pershing Square's investment approach distinguished itself through its willingness to take large, public positions and aggressively advocate for change. Ackman became known for detailed research presentations—often running dozens or even hundreds of pages—that laid out his investment theses in painstaking detail. This approach earned him a reputation as one of the most prominent activist investors of his generation.<ref name="CNBCReturns" />


In 1994, ''[[The Washington Post]]'' profiled Ackman as part of a new generation of aggressive young investors in New York, highlighting his early successes and ambitious approach to the markets.<ref>{{cite news |date=1994-07-10 |title=The Rookies' Big Score |url=https://www.washingtonpost.com/archive/business/1994/07/10/the-rookies-big-score/2e22cacf-a4e4-445c-a077-19518bcddbf9/ |work=The Washington Post |access-date=2026-02-23}}</ref> However, Gotham Partners ultimately encountered difficulties. The firm became embroiled in disputes related to some of its investments, and it was eventually wound down in the early 2000s. The experience, while humbling, provided Ackman with lessons that would shape his subsequent approach to portfolio management, concentration risk, and public communication.
The firm also launched [[Pershing Square Holdings]], a closed-end fund listed on the [[Euronext Amsterdam]] exchange, giving a broader base of investors access to Ackman's strategy.<ref name="PershingSquare" />


=== Founding of Pershing Square Capital Management ===
=== Notable Investment Campaigns ===


In 2004, Ackman founded [[Pershing Square Capital Management]], which would become his primary investment vehicle and one of the most closely watched hedge funds in the world. Named after Pershing Square, a small park in [[Manhattan]] adjacent to [[Grand Central Terminal]], the firm adopted a concentrated, activist approach to investing. Ackman's strategy centered on identifying large-cap companies that he believed were undervalued or poorly managed, taking significant equity stakes, and then working to effect changes—ranging from management overhauls to strategic restructurings—that he believed would unlock shareholder value.<ref>{{cite web |title=Pershing Square Holdings |url=https://www.pershingsquareholdings.com/ |publisher=Pershing Square Holdings |access-date=2026-02-23}}</ref>
Ackman's career at Pershing Square has been defined by a series of high-profile investment campaigns, some resulting in substantial profits and others in significant losses.


Pershing Square grew rapidly, and Ackman's concentrated, high-conviction bets made headlines across the financial world. By 2015, his returns had earned him recognition as one of the top 20 fund managers in the hedge fund industry.<ref>{{cite news |last= |first= |date=2015-01-26 |title=Ackman's returns make him a top 20 fund manager |url=https://www.cnbc.com/2015/01/26/ackmans-returns-make-him-a-top-20-fund-manager.html |work=CNBC |access-date=2026-02-23}}</ref> The firm managed billions of dollars in assets and attracted institutional investors, pension funds, and high-net-worth individuals.
One of Ackman's most successful campaigns involved [[Canadian Pacific Railway]], where Pershing Square took a large stake and pushed for management changes. The activist campaign led to a change in leadership and a subsequent operational turnaround that produced substantial returns for Pershing Square investors.


Pershing Square also launched a publicly listed closed-end fund, [[Pershing Square Holdings]], which trades on the [[Euronext Amsterdam]] stock exchange, giving a broader range of investors access to Ackman's portfolio.<ref>{{cite web |title=Pershing Square Holdings |url=https://www.pershingsquareholdings.com/ |publisher=Pershing Square Holdings |access-date=2026-02-23}}</ref>
Ackman also pursued a prominent position in [[J.C. Penney]], the American department store chain. He took a significant stake and pushed for a radical transformation of the retailer's business model, including the hiring of a new CEO. The strategy proved unsuccessful, and Ackman ultimately resigned from the J.C. Penney board in August 2013 amid disagreements with the company's direction.<ref name="ReutersJCP">{{cite news |title=Ackman quits J.C. Penney board, removing distraction |url=https://www.reuters.com/article/us-jcpenney-ackman/ackman-quits-j-c-penney-board-removing-distraction-idUSBRE97C0AI20130813 |work=Reuters |date=2013-08-13 |access-date=2026-02-23}}</ref> The J.C. Penney investment resulted in significant losses for Pershing Square.


=== Notable Investments ===
Perhaps Ackman's most publicly dramatic investment battle was his short position in [[Herbalife]], the nutritional supplement company. Beginning in December 2012, Ackman made a $1 billion short bet against Herbalife, publicly labeling the company a [[pyramid scheme]] and presenting detailed research to support his thesis. The Herbalife short became one of the most watched investment battles in Wall Street history, in part because of Ackman's public feud with fellow investor [[Carl Icahn]], who took the opposing side of the trade. The position was ultimately unsuccessful, and Ackman closed his Herbalife short at a loss after several years.


Ackman's career at Pershing Square has been defined by a series of large, highly publicized investments, some extraordinarily profitable and others resulting in significant losses.
Another consequential investment was Pershing Square's involvement with [[Valeant Pharmaceuticals]] (later renamed [[Bausch Health]]). Ackman took a large position in the pharmaceutical company and joined its board of directors. Valeant's business model—centered on acquiring other pharmaceutical companies and raising drug prices—drew intense scrutiny from regulators and the media. As Valeant's stock declined sharply amid accounting questions and congressional investigations, Pershing Square suffered major losses. Ackman eventually exited the position entirely.<ref name="BloombergValeant">{{cite web |title=Bill Ackman Is Done Losing Money on Valeant |url=https://www.bloomberg.com/view/articles/2017-03-14/bill-ackman-is-done-losing-money-on-valeant |publisher=Bloomberg |date=2017-03-14 |access-date=2026-02-23}}</ref>


One of his most successful campaigns was his investment in [[Canadian Pacific Railway]], in which Pershing Square took a major stake and pushed for management changes. The campaign resulted in a significant increase in the company's stock price and is frequently cited as one of the most successful activist campaigns in modern hedge fund history.
Despite these setbacks, Ackman's overall record at Pershing Square has included periods of exceptional performance. In 2015, his returns were sufficient to place him among the top 20 hedge fund managers by performance.<ref name="CNBCReturns" /> Ackman also made a widely publicized and highly profitable trade at the onset of the [[COVID-19 pandemic]] in early 2020, when he purchased [[credit default swap]]s that generated approximately $2.6 billion in profits over a matter of weeks as markets plunged.


Ackman also held a major position in [[Chipotle Mexican Grill]], which proved profitable as the restaurant chain recovered from a series of food safety crises and implemented operational changes.
=== Recent Investments and AI Focus ===


However, Ackman's investment in [[Valeant Pharmaceuticals]] became one of the most high-profile losses of his career. Pershing Square built a large position in the pharmaceutical company, which came under intense scrutiny for its aggressive drug pricing practices and accounting concerns. As Valeant's stock plummeted, Ackman was forced to exit the position at a substantial loss. In a 2017 analysis, ''[[Bloomberg]]'' noted that Ackman was "done losing money on Valeant," marking the end of a painful chapter for his fund.<ref>{{cite news |date=2017-03-14 |title=Bill Ackman Is Done Losing Money on Valeant |url=https://www.bloomberg.com/view/articles/2017-03-14/bill-ackman-is-done-losing-money-on-valeant |work=Bloomberg |access-date=2026-02-23}}</ref>
In 2026, Ackman continued to adapt Pershing Square's portfolio to reflect evolving market themes, with a notable shift toward technology and [[artificial intelligence]]. In February 2026, Pershing Square Capital Management disclosed a new significant stake in [[Meta Platforms]], the parent company of [[Facebook]], [[Instagram]], and [[WhatsApp]]. During the fund's annual investor presentation, Ackman described Meta as having a "deeply discounted valuation" and expressed confidence in the company's positioning in the AI landscape.<ref name="CNBCMeta" />


Another widely followed saga was Ackman's multi-year short bet against [[Herbalife]], a nutritional products company that he publicly accused of operating as a [[pyramid scheme]]. The bet pitted him against other prominent investors, most notably [[Carl Icahn]], who took the opposite side of the trade. The Herbalife short became one of the most public and contentious battles in Wall Street history. Ackman eventually closed his short position without the definitive regulatory action he had sought, though the [[Federal Trade Commission]] did require Herbalife to make significant changes to its business practices.
The Meta investment was part of a broader trend in Ackman's portfolio toward AI-related companies. His firm's 13F filings revealed additional moves into companies positioned to benefit from the growth of artificial intelligence.<ref name="TheStreetAI">{{cite news |title=Bill Ackman makes bold AI bet |url=https://www.thestreet.com/investing/bill-ackman-makes-bold-ai-bet |work=TheStreet |date=2026-02-20 |access-date=2026-02-23}}</ref> Ackman's Meta position drew attention from other investors and analysts, with some noting the conviction behind the large allocation.<ref name="MotleyFool">{{cite news |title=A Billionaire Just Bet Big on This AI Stock. Should Investors Follow Suit? |url=https://www.fool.com/investing/2026/02/22/a-billionaire-just-bet-big-on-this-ai-stock-should/ |work=The Motley Fool |date=2026-02-22 |access-date=2026-02-23}}</ref>


Ackman's involvement with [[J.C. Penney]] was another notable episode. He joined the retailer's board of directors and pushed for a dramatic transformation of the company's business model. The overhaul, however, alienated customers and led to declining sales. In August 2013, Ackman resigned from the J.C. Penney board, citing a desire to remove what he described as a "distraction" for the company.<ref>{{cite news |title=Ackman quits J.C. Penney board, removing distraction |url=https://www.reuters.com/article/us-jcpenney-ackman/ackman-quits-j-c-penney-board-removing-distraction-idUSBRE97C0AI20130813 |work=Reuters |date=2013-08-13 |access-date=2026-02-23}}</ref>
Beyond his public market investments, Ackman also participated in private technology ventures. In January 2026, he was among a group of prominent investors—alongside [[Satya Nadella]] and the venture firm [[Iconiq Capital]]—who contributed to a $40 million funding round for Outtake, an AI security startup developing agentic AI tools.<ref name="TechCrunchOuttake">{{cite news |title=AI security startup Outtake raises $40M from Iconiq, Satya Nadella, Bill Ackman, and other big names |url=https://techcrunch.com/2026/01/28/ai-security-startup-outtake-raises-40m-from-iconiq-satya-nadella-bill-ackman-and-other-big-names/ |work=TechCrunch |date=2026-01-28 |access-date=2026-02-23}}</ref>


=== Recent Investment Activity ===
=== Pershing Square IPO Efforts ===


In early 2026, Ackman continued to attract significant attention for his investment decisions. During Pershing Square's annual investor presentation in February 2026, Ackman revealed a new stake in [[Meta Platforms]], the parent company of [[Facebook]], [[Instagram]], and [[WhatsApp]]. He described the social media and technology conglomerate as having a "deeply discounted valuation" and articulated a thesis centered on the company's growth prospects, particularly in artificial intelligence.<ref>{{cite news |date=2026-02-11 |title=Bill Ackman reveals stake in Meta, says it has 'deeply discounted valuation' |url=https://www.cnbc.com/2026/02/11/bill-ackman-meta-valuation.html |work=CNBC |access-date=2026-02-23}}</ref> The investment drew widespread commentary, with analysts and financial media examining whether other investors should follow Ackman's lead into the stock.<ref>{{cite news |date=2026-02-22 |title=A Billionaire Just Bet Big on This AI Stock. Should Investors Follow Suit? |url=https://www.fool.com/investing/2026/02/22/a-billionaire-just-bet-big-on-this-ai-stock-should/ |work=The Motley Fool |access-date=2026-02-23}}</ref>
In 2024, Ackman announced plans to take a portion of Pershing Square public through a U.S.-listed closed-end fund, which was expected to be one of the largest initial public offerings of its kind. The effort attracted significant attention, though the planned structure and terms evolved as market conditions and investor reception were assessed. The IPO plans reflected Ackman's ambition to expand Pershing Square's investor base and establish a more permanent capital vehicle.


Pershing Square's most recent 13F filings indicated that Ackman had continued to make significant allocations toward companies with substantial artificial intelligence exposure, reflecting a broader strategic shift within the fund toward technology and AI-driven growth.<ref>{{cite news |date=2026-02-20 |title=Bill Ackman makes bold AI bet |url=https://www.thestreet.com/investing/bill-ackman-makes-bold-ai-bet |work=TheStreet |access-date=2026-02-23}}</ref>
== Political Activities and Public Commentary ==


Beyond his public market portfolio, Ackman has also invested in private technology companies. In January 2026, he participated in a $40 million funding round for Outtake, an AI security startup, alongside investors including [[Satya Nadella]] and [[Iconiq Capital]].<ref>{{cite news |date=2026-01-28 |title=AI security startup Outtake raises $40M from Iconiq, Satya Nadella, Bill Ackman, and other big names |url=https://techcrunch.com/2026/01/28/ai-security-startup-outtake-raises-40m-from-iconiq-satya-nadella-bill-ackman-and-other-big-names/ |work=TechCrunch |access-date=2026-02-23}}</ref>
=== Democratic Party Ties and Shift to Republican Support ===


=== Public Commentary on Economic Policy ===
For much of his career, Ackman was a donor to [[Democratic Party (United States)|Democratic]] candidates and organizations. However, in 2024, he endorsed [[Donald Trump]] in the [[2024 United States presidential election]], marking a significant public shift in his political alignment. The endorsement attracted considerable media attention given Ackman's prior associations with the Democratic Party.


Ackman has not limited his public commentary to corporate governance and investment theses. He has increasingly weighed in on broader economic and fiscal policy matters. In January 2026, when [[Donald Trump|President Trump]] called for a one-year 10% cap on credit card interest rates, Ackman publicly criticized the proposal, calling it a "mistake" and arguing that it could have negative consequences for consumer credit markets and affordability.<ref>{{cite news |date=2026-01 |title='This is a mistake President': Bill Ackman responds to Trump's call for a one-year 10% cap on credit card interest |url=https://www.businessinsider.com/ackman-trump-call-cap-credit-card-interest-mistake-affordability-2026-1 |work=Business Insider |access-date=2026-02-23}}</ref> The episode underscored Ackman's willingness to publicly challenge even those political figures with whom he has otherwise been aligned.
Following Trump's election, Ackman continued to engage publicly with political issues, though he did not hesitate to criticize the administration when he disagreed. In January 2026, when President Trump called for a one-year 10 percent cap on credit card interest rates, Ackman publicly pushed back, calling the proposal a "mistake" and arguing it could have unintended consequences for affordability and credit access.<ref name="BIACreditCard">{{cite news |title='This is a mistake President': Bill Ackman responds to Trump's call for a one-year 10% cap on credit card interest |url=https://www.businessinsider.com/ackman-trump-call-cap-credit-card-interest-mistake-affordability-2026-1 |work=Business Insider |date=2026-01 |access-date=2026-02-23}}</ref>


== Personal Life ==
Ackman's political engagement also extended to immigration enforcement. In January 2026, he donated $10,000 to a [[GoFundMe]] campaign supporting Jonathan Ross, an [[U.S. Immigration and Customs Enforcement|ICE]] agent involved in a controversial shooting incident in [[Minneapolis]] in which a woman named Renee Nicole Good was killed. The donation drew criticism from various quarters, and Ackman publicly defended his decision.<ref name="ForbesICE">{{cite news |last=Roeloffs |first=Mary |title=Billionaire Ackman Donates To Support ICE Agent Who Shot Renee Good |url=https://www.forbes.com/sites/maryroeloffs/2026/01/12/billionaire-bill-ackman-gives-10000-to-support-ice-agent-in-minneapolis-shooting/ |work=Forbes |date=2026-01-12 |access-date=2026-02-23}}</ref><ref name="NYPostICE">{{cite news |title=Billionaire Bill Ackman defends controversial $10K donation to ICE agent who fatally shot Renee Nicole Good |url=https://nypost.com/2026/01/13/us-news/billionaire-bill-ackman-defends-controversial-10k-donation-to-ice-agent-who-fatally-shot-renee-nicole-good/ |work=New York Post |date=2026-01-13 |access-date=2026-02-23}}</ref>
 
=== Israel Advocacy and Higher Education Criticism ===
 
Following the [[2023 Hamas-led attack on Israel|October 7, 2023, attacks on Israel]], Ackman became one of the most vocal public figures in the American business community advocating for Israel and criticizing what he described as antisemitism on university campuses. He was particularly critical of the [[2024 pro-Palestinian protests on university campuses]], arguing that the protests crossed the line from political speech into harassment and antisemitism.


In 1994, Ackman married Karen Ann Herskovitz, a landscape designer.<ref>{{cite news |date=1994-07-10 |title=Weddings; Karen Herskovitz, William Ackman |url=https://www.nytimes.com/1994/07/10/style/weddings-karen-herskovitz-william-ackman.html |work=The New York Times |access-date=2026-02-23}}</ref> The couple later divorced.
Ackman's engagement with higher education issues intensified when he publicly called for the resignation of [[Claudine Gay]], then-president of [[Harvard University]], following her congressional testimony on campus antisemitism. His sustained public campaign, conducted largely on the social media platform [[X (social media)|X]], was credited by many observers as a contributing factor in Gay's subsequent resignation.


In 2018, it was reported that Ackman was engaged to [[Neri Oxman]], an Israeli-American architect, designer, and professor at the [[MIT Media Lab]], known for her pioneering work at the intersection of computational design, biology, and materials science.<ref>{{cite news |date=2018 |title=Activist Investor Bill Ackman Is Engaged to Rockstar Scientist Neri Oxman |url=https://www.fastcompany.com/90249034/activist-investor-bill-ackman-is-engaged-to-rockstar-scientist-neri-oxman |work=Fast Company |access-date=2026-02-23}}</ref> The couple married in January 2019 in a ceremony that was profiled in ''[[The New York Times]]'', which described their connection as having been "as if by design."<ref>{{cite news |date=2019-01-19 |title=As if by Design, Their Connection Was Inevitable |url=https://www.nytimes.com/2019/01/19/fashion/weddings/as-if-by-design-their-connection-was-inevitable.html |work=The New York Times |access-date=2026-02-23}}</ref>
=== Tax Policy Debates ===


Ackman has spoken publicly about his Jewish heritage and has been active in Jewish communal and philanthropic life. He has been an outspoken supporter of Israel, particularly following the [[2023 Hamas-led attack on Israel|October 7, 2023 attacks]], during which he criticized pro-Palestinian protests on university campuses and called attention to what he described as rising antisemitism in American higher education.
Ackman's wealth and political prominence have also made him a subject in broader debates about taxation of the ultra-wealthy. In February 2026, Senator [[Bernie Sanders]] named Ackman alongside [[Elon Musk]] and [[Peter Thiel]] in remarks demanding that billionaires pay their "fair share" of taxes, specifically in the context of a proposed [[California]] wealth tax.<ref name="YahooSanders">{{cite news |title=Bernie Sanders Blasts Elon Musk, Bill Ackman And Peter Thiel, Demands Billionaires Cough Up Their 'Fair Share' Of Taxes |url=https://www.yahoo.com/news/articles/bernie-sanders-blasts-elon-musk-023020754.html |work=Yahoo News |date=2026-02-21 |access-date=2026-02-23}}</ref>


A long-time donor to [[Democratic Party (United States)|Democratic]] candidates and organizations, Ackman shifted his political alignment in the 2024 election cycle, endorsing [[Donald Trump]] in the [[2024 United States presidential election]]. The endorsement drew significant media attention given Ackman's history of Democratic donations and his increasing prominence as a conservative-leaning public commentator on social media.
== Personal Life ==


In early 2026, Ackman made headlines for donating $10,000 to a [[GoFundMe]] campaign supporting an [[U.S. Immigration and Customs Enforcement|ICE]] agent involved in a controversial shooting in [[Minneapolis]], and subsequently defended the donation publicly.<ref>{{cite news |date=2026-01-12 |title=Billionaire Ackman Donates To Support ICE Agent Who Shot Renee Good |url=https://www.forbes.com/sites/maryroeloffs/2026/01/12/billionaire-bill-ackman-gives-10000-to-support-ice-agent-in-minneapolis-shooting/ |work=Forbes |access-date=2026-02-23}}</ref><ref>{{cite news |date=2026-01-13 |title=Billionaire Bill Ackman defends controversial $10K donation to ICE agent who fatally shot Renee Nicole Good |url=https://nypost.com/2026/01/13/us-news/billionaire-bill-ackman-defends-controversial-10k-donation-to-ice-agent-who-fatally-shot-renee-nicole-good/ |work=New York Post |access-date=2026-02-23}}</ref>
Ackman married Karen Ann Herskovitz in July 1994. Herskovitz held a degree in landscape architecture.<ref name="NYTWedding1994">{{cite news |title=Weddings; Karen Herskovitz, William Ackman |url=https://www.nytimes.com/1994/07/10/style/weddings-karen-herskovitz-william-ackman.html |work=The New York Times |date=1994-07-10 |access-date=2026-02-23}}</ref> The couple had children together before divorcing.


Ackman's wealth and political visibility have also made him a target of political criticism. In February 2026, Senator [[Bernie Sanders]] publicly named Ackman alongside [[Elon Musk]] and [[Peter Thiel]] in a call for billionaires to pay their "fair share" of taxes, using the debate over a proposed California wealth tax as a platform for his argument.<ref>{{cite news |date=2026-02-21 |title=Bernie Sanders Blasts Elon Musk, Bill Ackman And Peter Thiel, Demands Billionaires Cough Up Their 'Fair Share' Of Taxes |url=https://www.yahoo.com/news/articles/bernie-sanders-blasts-elon-musk-023020754.html |work=Yahoo News |access-date=2026-02-23}}</ref>
In 2018, it was reported that Ackman was engaged to [[Neri Oxman]], an Israeli-American architect, designer, and professor at the [[MIT Media Lab]] known for her pioneering work at the intersection of computational design, biology, and materials science.<ref name="FastCompanyOxman">{{cite news |title=Activist investor Bill Ackman is engaged to rockstar scientist Neri Oxman |url=https://www.fastcompany.com/90249034/activist-investor-bill-ackman-is-engaged-to-rockstar-scientist-neri-oxman |work=Fast Company |date=2018 |access-date=2026-02-23}}</ref> The couple married in January 2019. Reporting on their wedding described the connection between Ackman and Oxman as one that brought together the worlds of finance and scientific research.<ref name="NYTWedding2019">{{cite news |title=As if by Design, Their Connection Was Inevitable |url=https://www.nytimes.com/2019/01/19/fashion/weddings/as-if-by-design-their-connection-was-inevitable.html |work=The New York Times |date=2019-01-19 |access-date=2026-02-23}}</ref>
 
Ackman is Jewish and has been active in Jewish communal life and causes related to Israel.<ref name="JewishBusinessNews">{{cite web |title=The Fighter: Bill Ackman |url=https://jewishbusinessnews.com/2013/02/03/the-fighter-%D7%9C%D7%99%D7%A0%D7%A7-%D7%91%D7%99%D7%9C-%D7%90%D7%A7%D7%9E%D7%9F/ |publisher=Jewish Business News |date=2013-02-03 |access-date=2026-02-23}}</ref>


== Philanthropy ==
== Philanthropy ==


Ackman and his family have been active philanthropists. He is a co-founder of the [[Pershing Square Foundation]], which supports a range of charitable causes including education, health, social justice, and entrepreneurship.<ref>{{cite web |title=Our Founders — Pershing Square Foundation |url=http://pershingsquarefoundation.org/fund/our-founders/ |publisher=Pershing Square Foundation |access-date=2026-02-23}}</ref> Ackman has appeared on the ''[[The Chronicle of Philanthropy|Chronicle of Philanthropy]]'''s Philanthropy 50 list, which ranks the largest individual charitable donors in the United States.<ref>{{cite web |title=Philanthropy 50 |url=http://philanthropy.com/article/philanthropy50/126127 |publisher=The Chronicle of Philanthropy |access-date=2026-02-23}}</ref>
Ackman and his wife are co-founders of the [[Pershing Square Foundation]], which supports a range of philanthropic initiatives.<ref name="PershingFoundation" /> Ackman has been a signatory to [[The Giving Pledge]], the commitment initiated by [[Warren Buffett]] and [[Bill Gates]] encouraging billionaires to give away the majority of their wealth to philanthropic causes during their lifetimes or in their wills.<ref name="JewishVoice">{{cite web |title=Jewish Billionaires Join Group Pledging Majority of Their Wealth to Charity |url=http://jewishvoiceny.com/index.php?view=article&catid=96:business&id=995:jewish-billionaires-join-group-pledging-majority-of-their-wealth-to-charity&tmpl=component&print=1&page=&option=com_content&Itemid=279 |publisher=Jewish Voice |access-date=2026-02-23}}</ref> According to ''[[The Chronicle of Philanthropy]]'', Ackman has ranked among the top American philanthropists by donation volume.<ref name="ChroniclePhilanthropy">{{cite web |title=Philanthropy 50 |url=http://philanthropy.com/article/philanthropy50/126127 |publisher=The Chronicle of Philanthropy |access-date=2026-02-23}}</ref>


He has also signed [[The Giving Pledge]], an initiative created by [[Warren Buffett]] and [[Bill Gates]] that encourages the world's wealthiest individuals to commit the majority of their wealth to philanthropy, either during their lifetimes or in their wills.<ref>{{cite web |title=Jewish Billionaires Join Group Pledging Majority of Their Wealth to Charity |url=http://jewishvoiceny.com/index.php?view=article&catid=96:business&id=995:jewish-billionaires-join-group-pledging-majority-of-their-wealth-to-charity&tmpl=component&print=1&page=&option=com_content&Itemid=279 |publisher=Jewish Voice |access-date=2026-02-23}}</ref>
The Pershing Square Foundation has directed funds toward education, health, economic development, and human rights initiatives. Ackman's philanthropic interests have included significant support for organizations in New York City and for causes related to combating poverty.
 
The Pershing Square Foundation has funded initiatives across several continents, with a particular focus on supporting innovative approaches to social problems, academic research, and public health.


== Recognition ==
== Recognition ==


Ackman has been the subject of extensive media coverage throughout his career. His investment campaigns, public battles with other investors and corporate executives, and increasingly prominent political commentary have made him one of the most recognizable figures in the hedge fund industry.
Ackman has been the subject of extensive media coverage throughout his career. His investment campaigns, public feuds with other investors, and outspoken commentary have made him a regular feature in financial media outlets including [[CNBC]], [[Bloomberg News]], and ''[[The New York Times]]''.<ref name="CNBCInterview">{{cite web |title=Bill Ackman CNBC Interview |url=http://video.cnbc.com/gallery/?video=3000578820 |publisher=CNBC |access-date=2026-02-23}}</ref>


His battle with Herbalife was documented in Christine Richard's book ''Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff'', which detailed the research and strategy behind his most prominent short-selling campaigns.<ref>{{cite web |title=Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff |url=https://www.amazon.com/Confidence-Game-Manager-Ackman-Streets/dp/1118010418 |publisher=Amazon |access-date=2026-02-23}}</ref>
The book ''Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff'' by Christine S. Richard documented one of Ackman's earlier investment campaigns and provided a detailed account of his analytical methods and tenacity in pursuing an investment thesis.<ref name="ConfidenceGame">{{cite web |title=Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff |url=https://www.amazon.com/Confidence-Game-Manager-Ackman-Streets/dp/1118010418 |publisher=Amazon |access-date=2026-02-23}}</ref>


Ackman has been a frequent guest on financial news programs, particularly on [[CNBC]], where he has participated in extended interviews about his investment theses, market outlook, and public policy views.<ref>{{cite web |title=Bill Ackman CNBC Interview |url=http://video.cnbc.com/gallery/?video=3000578820 |publisher=CNBC |access-date=2026-02-23}}</ref> His public statements and social media posts regularly generate substantial coverage in outlets including ''The New York Times'', ''The Wall Street Journal'', ''Bloomberg'', ''Forbes'', and ''Business Insider''.
His returns at Pershing Square have placed him among the top-performing hedge fund managers over certain periods, earning recognition in industry rankings.<ref name="CNBCReturns" /> Ackman's ability to generate public attention for his investment theses—through detailed presentations, media appearances, and social media commentary—has been a distinguishing characteristic of his career.
 
His ranking among the top 20 hedge fund managers by returns, as recognized by CNBC in 2015, placed him alongside some of the most prominent names in the history of the industry.<ref>{{cite news |date=2015-01-26 |title=Ackman's returns make him a top 20 fund manager |url=https://www.cnbc.com/2015/01/26/ackmans-returns-make-him-a-top-20-fund-manager.html |work=CNBC |access-date=2026-02-23}}</ref>


== Legacy ==
== Legacy ==


Bill Ackman's career represents one of the most documented case studies in modern activist investing. His approach—taking large, concentrated positions in public companies and then aggressively campaigning for change—has influenced a generation of hedge fund managers and reshaped the relationship between institutional investors and corporate boards. Whether through successful campaigns like Canadian Pacific Railway or controversial ones like Herbalife and J.C. Penney, Ackman has consistently demonstrated a willingness to stake his reputation and his capital on his convictions.
Ackman's career has been characterized by the combination of concentrated, high-conviction investing with a willingness to engage in public campaigns to effect change at the companies in which he invests. His approach to activist investing—taking large stakes, publicly articulating detailed investment theses, and pushing for management or strategic changes—helped define the modern activist hedge fund model.


His transition from a primarily financial figure to one who is also prominent in political and cultural discourse has mirrored broader trends among American billionaires in the 2020s. His public commentaries on higher education, antisemitism, immigration, and fiscal policy have extended his influence well beyond the world of finance, though they have also generated significant controversy and criticism.
His successes and failures have been unusually public, lending his career a narrative arc that has attracted attention well beyond the financial industry. The Herbalife short, the Valeant investment, the J.C. Penney campaign, and the Canadian Pacific Railway turnaround represent a body of work that has been studied by investors, business school students, and financial journalists.


Through the Pershing Square Foundation and The Giving Pledge, Ackman has committed to directing a substantial portion of his wealth to charitable causes, positioning himself within a tradition of Wall Street philanthropists who seek to leverage their financial success for broader social impact.
In recent years, Ackman's public profile has expanded beyond finance into politics and social commentary. His vocal stance on issues related to antisemitism, higher education governance, and immigration enforcement has made him a polarizing figure in American public discourse. His political evolution from a Democratic donor to a Trump supporter reflects broader shifts among some figures in the business and financial communities.


As of early 2026, Ackman remains an active investor, continuing to deploy capital into both public equity markets—with a particular focus on technology and artificial intelligence—and private ventures. His career continues to evolve, and his influence on both financial markets and American public life shows no signs of diminishing.
Through the Pershing Square Foundation and his commitment to The Giving Pledge, Ackman has also sought to channel his wealth toward philanthropic ends, though his public controversies have at times overshadowed these efforts.


== References ==
== References ==
<references />
<references />


[[Category:Investors]]
[[Category:Finance]]
[[Category:American people]]
[[Category:1966 births]]
[[Category:1966 births]]
[[Category:Living people]]
[[Category:Living people]]
[[Category:Harvard University alumni]]
[[Category:American billionaires]]
[[Category:Harvard Business School alumni]]
[[Category:American hedge fund managers]]
[[Category:American hedge fund managers]]
[[Category:American billionaires]]
[[Category:American investors]]
[[Category:American activists]]
[[Category:Activist investors]]
[[Category:American philanthropists]]
[[Category:American philanthropists]]
[[Category:American Jews]]
[[Category:Harvard Business School alumni]]
[[Category:Harvard College alumni]]
[[Category:People from Chappaqua, New York]]
[[Category:People from Chappaqua, New York]]
[[Category:Activist investors]]
[[Category:Giving Pledge signatories]]
[[Category:American chief executives of financial services companies]]
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Latest revision as of 01:58, 24 February 2026


Bill Ackman
BornWilliam Albert Ackman
11 5, 1966
BirthplaceChappaqua, New York, U.S.
NationalityAmerican
OccupationHedge fund manager
TitleFounder and CEO, Pershing Square Capital Management
Known forActivist investing, Pershing Square Capital Management
EducationHarvard University (BA, MBA)
Spouse(s)Karen Ann Herskovitz (m. 1994; div.)
Neri Oxman (m. 2019)
Website[https://www.pershingsquareholdings.com/ Official site]

William Albert Ackman (born May 11, 1966), known as Bill Ackman, is an American billionaire hedge fund manager, activist investor, and philanthropist. He is the founder and chief executive officer of Pershing Square Capital Management, a New York City-based investment management company.[1] Ackman has built a career around large, concentrated bets on publicly traded companies, frequently taking activist positions to push for changes in corporate governance, strategy, and management. His high-profile campaigns—both successful and unsuccessful—have made him one of the most closely watched figures on Wall Street. Ackman's investment record includes prominent wins in companies such as Canadian Pacific Railway and notable losses in positions including Valeant Pharmaceuticals and J.C. Penney.[2] A long-time donor to Democratic candidates and organizations, Ackman shifted his political alignment in 2024 when he endorsed Donald Trump in the 2024 United States presidential election. In recent years, Ackman has become an increasingly vocal public commentator on politics, higher education, and geopolitics, particularly following the October 7, 2023, attacks on Israel. As of early 2026, Pershing Square's portfolio has included significant positions in technology companies, with Ackman making headlines for a large new stake in Meta Platforms.[3]

Early Life

William Albert Ackman was born on May 11, 1966, in Chappaqua, New York, an affluent hamlet in Westchester County.[4] He grew up in a Jewish family with roots in the New York business community. His father, Lawrence D. Ackman, was a real estate financier who served as chairman of a New York mortgage company. The elder Ackman married Ronnie I. Posner in 1963.[5]

Growing up in an environment steeped in real estate and finance, Ackman developed an early interest in investing and business. The Ackman family's connection to the real estate industry in New York would later influence Bill Ackman's early career choices and his initial focus on real estate-related investments. Chappaqua, a suburb of New York City known for its highly ranked public schools, provided a stable and privileged upbringing.

Ackman has described his father as a significant influence on his career, crediting him with instilling an understanding of business and deal-making from a young age. The competitive drive and analytical temperament that would later define Ackman's approach to activist investing were evident during his formative years.

Education

Ackman attended Harvard College, where he earned a Bachelor of Arts degree. He subsequently enrolled at Harvard Business School, graduating with a Master of Business Administration (MBA).[6] His time at Harvard shaped his intellectual framework for investing and provided him with connections to other future figures in the financial world.

Ackman's Harvard education has remained a significant part of his public identity. He has maintained ties with the university throughout his career, though in more recent years his relationship with the institution became strained amid his public criticisms of Harvard's leadership during the 2023–2024 campus controversies surrounding the Israel–Hamas war.

Career

Early Career and Gotham Partners

After completing his MBA at Harvard Business School, Ackman entered the investment world. In 1992, he co-founded Gotham Partners Management, a small investment firm, along with fellow Harvard graduate David P. Berkowitz. Gotham Partners focused on investments in public and private companies, with an emphasis on real estate-related enterprises. The firm attracted attention in the financial press for its ambitious approach, with a young Ackman quickly establishing a reputation as an aggressive and analytically rigorous investor.[7]

Gotham Partners grew during the 1990s but eventually encountered difficulties. The firm's investments in certain illiquid assets and concentrated positions led to challenges as market conditions shifted. By the early 2000s, Gotham Partners faced investor redemption requests and regulatory scrutiny, and the firm was ultimately wound down. The experience, while painful, provided Ackman with hard-earned lessons about liquidity risk, portfolio concentration, and investor relations that would inform the structure of his next venture.

Pershing Square Capital Management

In 2004, Ackman founded Pershing Square Capital Management, which would become one of the most prominent activist hedge funds in the world.[1] The firm's name was drawn from Pershing Square, a public plaza adjacent to Grand Central Terminal in Manhattan. Pershing Square Capital Management was structured to pursue a concentrated portfolio strategy, typically holding significant positions in a small number of publicly traded companies where Ackman identified opportunities for value creation through operational improvements, strategic changes, or governance reforms.

Pershing Square's investment approach distinguished itself through its willingness to take large, public positions and aggressively advocate for change. Ackman became known for detailed research presentations—often running dozens or even hundreds of pages—that laid out his investment theses in painstaking detail. This approach earned him a reputation as one of the most prominent activist investors of his generation.[2]

The firm also launched Pershing Square Holdings, a closed-end fund listed on the Euronext Amsterdam exchange, giving a broader base of investors access to Ackman's strategy.[1]

Notable Investment Campaigns

Ackman's career at Pershing Square has been defined by a series of high-profile investment campaigns, some resulting in substantial profits and others in significant losses.

One of Ackman's most successful campaigns involved Canadian Pacific Railway, where Pershing Square took a large stake and pushed for management changes. The activist campaign led to a change in leadership and a subsequent operational turnaround that produced substantial returns for Pershing Square investors.

Ackman also pursued a prominent position in J.C. Penney, the American department store chain. He took a significant stake and pushed for a radical transformation of the retailer's business model, including the hiring of a new CEO. The strategy proved unsuccessful, and Ackman ultimately resigned from the J.C. Penney board in August 2013 amid disagreements with the company's direction.[8] The J.C. Penney investment resulted in significant losses for Pershing Square.

Perhaps Ackman's most publicly dramatic investment battle was his short position in Herbalife, the nutritional supplement company. Beginning in December 2012, Ackman made a $1 billion short bet against Herbalife, publicly labeling the company a pyramid scheme and presenting detailed research to support his thesis. The Herbalife short became one of the most watched investment battles in Wall Street history, in part because of Ackman's public feud with fellow investor Carl Icahn, who took the opposing side of the trade. The position was ultimately unsuccessful, and Ackman closed his Herbalife short at a loss after several years.

Another consequential investment was Pershing Square's involvement with Valeant Pharmaceuticals (later renamed Bausch Health). Ackman took a large position in the pharmaceutical company and joined its board of directors. Valeant's business model—centered on acquiring other pharmaceutical companies and raising drug prices—drew intense scrutiny from regulators and the media. As Valeant's stock declined sharply amid accounting questions and congressional investigations, Pershing Square suffered major losses. Ackman eventually exited the position entirely.[9]

Despite these setbacks, Ackman's overall record at Pershing Square has included periods of exceptional performance. In 2015, his returns were sufficient to place him among the top 20 hedge fund managers by performance.[2] Ackman also made a widely publicized and highly profitable trade at the onset of the COVID-19 pandemic in early 2020, when he purchased credit default swaps that generated approximately $2.6 billion in profits over a matter of weeks as markets plunged.

Recent Investments and AI Focus

In 2026, Ackman continued to adapt Pershing Square's portfolio to reflect evolving market themes, with a notable shift toward technology and artificial intelligence. In February 2026, Pershing Square Capital Management disclosed a new significant stake in Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp. During the fund's annual investor presentation, Ackman described Meta as having a "deeply discounted valuation" and expressed confidence in the company's positioning in the AI landscape.[3]

The Meta investment was part of a broader trend in Ackman's portfolio toward AI-related companies. His firm's 13F filings revealed additional moves into companies positioned to benefit from the growth of artificial intelligence.[10] Ackman's Meta position drew attention from other investors and analysts, with some noting the conviction behind the large allocation.[11]

Beyond his public market investments, Ackman also participated in private technology ventures. In January 2026, he was among a group of prominent investors—alongside Satya Nadella and the venture firm Iconiq Capital—who contributed to a $40 million funding round for Outtake, an AI security startup developing agentic AI tools.[12]

Pershing Square IPO Efforts

In 2024, Ackman announced plans to take a portion of Pershing Square public through a U.S.-listed closed-end fund, which was expected to be one of the largest initial public offerings of its kind. The effort attracted significant attention, though the planned structure and terms evolved as market conditions and investor reception were assessed. The IPO plans reflected Ackman's ambition to expand Pershing Square's investor base and establish a more permanent capital vehicle.

Political Activities and Public Commentary

Democratic Party Ties and Shift to Republican Support

For much of his career, Ackman was a donor to Democratic candidates and organizations. However, in 2024, he endorsed Donald Trump in the 2024 United States presidential election, marking a significant public shift in his political alignment. The endorsement attracted considerable media attention given Ackman's prior associations with the Democratic Party.

Following Trump's election, Ackman continued to engage publicly with political issues, though he did not hesitate to criticize the administration when he disagreed. In January 2026, when President Trump called for a one-year 10 percent cap on credit card interest rates, Ackman publicly pushed back, calling the proposal a "mistake" and arguing it could have unintended consequences for affordability and credit access.[13]

Ackman's political engagement also extended to immigration enforcement. In January 2026, he donated $10,000 to a GoFundMe campaign supporting Jonathan Ross, an ICE agent involved in a controversial shooting incident in Minneapolis in which a woman named Renee Nicole Good was killed. The donation drew criticism from various quarters, and Ackman publicly defended his decision.[14][15]

Israel Advocacy and Higher Education Criticism

Following the October 7, 2023, attacks on Israel, Ackman became one of the most vocal public figures in the American business community advocating for Israel and criticizing what he described as antisemitism on university campuses. He was particularly critical of the 2024 pro-Palestinian protests on university campuses, arguing that the protests crossed the line from political speech into harassment and antisemitism.

Ackman's engagement with higher education issues intensified when he publicly called for the resignation of Claudine Gay, then-president of Harvard University, following her congressional testimony on campus antisemitism. His sustained public campaign, conducted largely on the social media platform X, was credited by many observers as a contributing factor in Gay's subsequent resignation.

Tax Policy Debates

Ackman's wealth and political prominence have also made him a subject in broader debates about taxation of the ultra-wealthy. In February 2026, Senator Bernie Sanders named Ackman alongside Elon Musk and Peter Thiel in remarks demanding that billionaires pay their "fair share" of taxes, specifically in the context of a proposed California wealth tax.[16]

Personal Life

Ackman married Karen Ann Herskovitz in July 1994. Herskovitz held a degree in landscape architecture.[17] The couple had children together before divorcing.

In 2018, it was reported that Ackman was engaged to Neri Oxman, an Israeli-American architect, designer, and professor at the MIT Media Lab known for her pioneering work at the intersection of computational design, biology, and materials science.[18] The couple married in January 2019. Reporting on their wedding described the connection between Ackman and Oxman as one that brought together the worlds of finance and scientific research.[19]

Ackman is Jewish and has been active in Jewish communal life and causes related to Israel.[20]

Philanthropy

Ackman and his wife are co-founders of the Pershing Square Foundation, which supports a range of philanthropic initiatives.[4] Ackman has been a signatory to The Giving Pledge, the commitment initiated by Warren Buffett and Bill Gates encouraging billionaires to give away the majority of their wealth to philanthropic causes during their lifetimes or in their wills.[21] According to The Chronicle of Philanthropy, Ackman has ranked among the top American philanthropists by donation volume.[22]

The Pershing Square Foundation has directed funds toward education, health, economic development, and human rights initiatives. Ackman's philanthropic interests have included significant support for organizations in New York City and for causes related to combating poverty.

Recognition

Ackman has been the subject of extensive media coverage throughout his career. His investment campaigns, public feuds with other investors, and outspoken commentary have made him a regular feature in financial media outlets including CNBC, Bloomberg News, and The New York Times.[23]

The book Confidence Game: How a Hedge Fund Manager Called Wall Street's Bluff by Christine S. Richard documented one of Ackman's earlier investment campaigns and provided a detailed account of his analytical methods and tenacity in pursuing an investment thesis.[24]

His returns at Pershing Square have placed him among the top-performing hedge fund managers over certain periods, earning recognition in industry rankings.[2] Ackman's ability to generate public attention for his investment theses—through detailed presentations, media appearances, and social media commentary—has been a distinguishing characteristic of his career.

Legacy

Ackman's career has been characterized by the combination of concentrated, high-conviction investing with a willingness to engage in public campaigns to effect change at the companies in which he invests. His approach to activist investing—taking large stakes, publicly articulating detailed investment theses, and pushing for management or strategic changes—helped define the modern activist hedge fund model.

His successes and failures have been unusually public, lending his career a narrative arc that has attracted attention well beyond the financial industry. The Herbalife short, the Valeant investment, the J.C. Penney campaign, and the Canadian Pacific Railway turnaround represent a body of work that has been studied by investors, business school students, and financial journalists.

In recent years, Ackman's public profile has expanded beyond finance into politics and social commentary. His vocal stance on issues related to antisemitism, higher education governance, and immigration enforcement has made him a polarizing figure in American public discourse. His political evolution from a Democratic donor to a Trump supporter reflects broader shifts among some figures in the business and financial communities.

Through the Pershing Square Foundation and his commitment to The Giving Pledge, Ackman has also sought to channel his wealth toward philanthropic ends, though his public controversies have at times overshadowed these efforts.

References

  1. ↑ 1.0 1.1 1.2 "Pershing Square Holdings".Pershing Square Holdings.https://www.pershingsquareholdings.com/.Retrieved 2026-02-23.
  2. ↑ 2.0 2.1 2.2 2.3 "Ackman's returns make him a top 20 fund manager".CNBC.2015-01-26.https://www.cnbc.com/2015/01/26/ackmans-returns-make-him-a-top-20-fund-manager.html.Retrieved 2026-02-23.
  3. ↑ 3.0 3.1 "Bill Ackman reveals stake in Meta, says it has 'deeply discounted valuation'".CNBC.2026-02-11.https://www.cnbc.com/2026/02/11/bill-ackman-meta-valuation.html.Retrieved 2026-02-23.
  4. ↑ 4.0 4.1 "Our Founders".Pershing Square Foundation.http://pershingsquarefoundation.org/fund/our-founders/.Retrieved 2026-02-23.
  5. ↑ "Miss Ronnie I. Posner Bride of L.D. Ackman".The New York Times.1963-10-07.https://www.nytimes.com/1963/10/07/archives/miss-ronnie-i-posner-bride-of-ld-ackman.html.Retrieved 2026-02-23.
  6. ↑ "Bio: Bill Ackman".Harvard Law School Program on Corporate Governance.http://www.law.harvard.edu/programs/corp_gov/bio_Ackman.shtml.Retrieved 2026-02-23.
  7. ↑ "The Rookies' Big Score".The Washington Post.1994-07-10.https://www.washingtonpost.com/archive/business/1994/07/10/the-rookies-big-score/2e22cacf-a4e4-445c-a077-19518bcddbf9/.Retrieved 2026-02-23.
  8. ↑ "Ackman quits J.C. Penney board, removing distraction".Reuters.2013-08-13.https://www.reuters.com/article/us-jcpenney-ackman/ackman-quits-j-c-penney-board-removing-distraction-idUSBRE97C0AI20130813.Retrieved 2026-02-23.
  9. ↑ "Bill Ackman Is Done Losing Money on Valeant".Bloomberg.2017-03-14.https://www.bloomberg.com/view/articles/2017-03-14/bill-ackman-is-done-losing-money-on-valeant.Retrieved 2026-02-23.
  10. ↑ "Bill Ackman makes bold AI bet".TheStreet.2026-02-20.https://www.thestreet.com/investing/bill-ackman-makes-bold-ai-bet.Retrieved 2026-02-23.
  11. ↑ "A Billionaire Just Bet Big on This AI Stock. Should Investors Follow Suit?".The Motley Fool.2026-02-22.https://www.fool.com/investing/2026/02/22/a-billionaire-just-bet-big-on-this-ai-stock-should/.Retrieved 2026-02-23.
  12. ↑ "AI security startup Outtake raises $40M from Iconiq, Satya Nadella, Bill Ackman, and other big names".TechCrunch.2026-01-28.https://techcrunch.com/2026/01/28/ai-security-startup-outtake-raises-40m-from-iconiq-satya-nadella-bill-ackman-and-other-big-names/.Retrieved 2026-02-23.
  13. ↑ "'This is a mistake President': Bill Ackman responds to Trump's call for a one-year 10% cap on credit card interest".Business Insider.2026-01.https://www.businessinsider.com/ackman-trump-call-cap-credit-card-interest-mistake-affordability-2026-1.Retrieved 2026-02-23.
  14. ↑ RoeloffsMaryMary"Billionaire Ackman Donates To Support ICE Agent Who Shot Renee Good".Forbes.2026-01-12.https://www.forbes.com/sites/maryroeloffs/2026/01/12/billionaire-bill-ackman-gives-10000-to-support-ice-agent-in-minneapolis-shooting/.Retrieved 2026-02-23.
  15. ↑ "Billionaire Bill Ackman defends controversial $10K donation to ICE agent who fatally shot Renee Nicole Good".New York Post.2026-01-13.https://nypost.com/2026/01/13/us-news/billionaire-bill-ackman-defends-controversial-10k-donation-to-ice-agent-who-fatally-shot-renee-nicole-good/.Retrieved 2026-02-23.
  16. ↑ "Bernie Sanders Blasts Elon Musk, Bill Ackman And Peter Thiel, Demands Billionaires Cough Up Their 'Fair Share' Of Taxes".Yahoo News.2026-02-21.https://www.yahoo.com/news/articles/bernie-sanders-blasts-elon-musk-023020754.html.Retrieved 2026-02-23.
  17. ↑ "Weddings; Karen Herskovitz, William Ackman".The New York Times.1994-07-10.https://www.nytimes.com/1994/07/10/style/weddings-karen-herskovitz-william-ackman.html.Retrieved 2026-02-23.
  18. ↑ "Activist investor Bill Ackman is engaged to rockstar scientist Neri Oxman".Fast Company.2018.https://www.fastcompany.com/90249034/activist-investor-bill-ackman-is-engaged-to-rockstar-scientist-neri-oxman.Retrieved 2026-02-23.
  19. ↑ "As if by Design, Their Connection Was Inevitable".The New York Times.2019-01-19.https://www.nytimes.com/2019/01/19/fashion/weddings/as-if-by-design-their-connection-was-inevitable.html.Retrieved 2026-02-23.
  20. ↑ "The Fighter: Bill Ackman".Jewish Business News.2013-02-03.https://jewishbusinessnews.com/2013/02/03/the-fighter-%D7%9C%D7%99%D7%A0%D7%A7-%D7%91%D7%99%D7%9C-%D7%90%D7%A7%D7%9E%D7%9F/.Retrieved 2026-02-23.
  21. ↑ "Jewish Billionaires Join Group Pledging Majority of Their Wealth to Charity".Jewish Voice.http://jewishvoiceny.com/index.php?view=article&catid=96:business&id=995:jewish-billionaires-join-group-pledging-majority-of-their-wealth-to-charity&tmpl=component&print=1&page=&option=com_content&Itemid=279.Retrieved 2026-02-23.
  22. ↑ "Philanthropy 50".The Chronicle of Philanthropy.http://philanthropy.com/article/philanthropy50/126127.Retrieved 2026-02-23.
  23. ↑ "Bill Ackman CNBC Interview".CNBC.http://video.cnbc.com/gallery/?video=3000578820.Retrieved 2026-02-23.
  24. ↑ "Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff".Amazon.https://www.amazon.com/Confidence-Game-Manager-Ackman-Streets/dp/1118010418.Retrieved 2026-02-23.

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