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United States Bill Ackman is an American billionaire hedge fund manager, recognized for founding Pershing Square Capital Management and his history as an activist investor.
In 2004, Ackman started Pershing Square Capital Management with $54 million from his personal funds and from his former business partner Leucadia National.
Bill Ackman is a well-known hedge fund manager who runs Pershing Square Capital Management, the firm he founded in 2004.
As Ackman's Pershing Square makes a bold bet on Starbucks, we take a look back at the best and worst of his investing career.
Billionaire hedge-fund manager Bill Ackman disclosed a nearly 20% stake in rental-car company Hertz on Thursday as he laid out his bullish thesis.
In 2021 Ackman planned to invest some of the proceeds of his special purpose acquisition company, Pershing Square Tontine Holdings, in a partial interest in Universal Music.
Bill Ackman, founder and CEO of Pershing Square Capital Management, breaks down hedge funds and the roles of Fannie Mae and Freddie Mac in the financial system.
Bill Ackman, founder and CEO of Pershing Square Capital Management, breaks down hedge funds and the roles of Fannie Mae and Freddie Mac in the financial system.
After completing his MBA, Bill Ackman co-founded the investment firm Gotham Partners with fellow Harvard alum David Berkowitz.
Billionaire investor William Ackman built new stakes in sportswear company Nike during the second quarter.
Billionaire investor William Ackman built new stakes in investment management company Brookfield during the second quarter.
William Albert Ackman, born on May 11, 1966, in Chappaqua, New York, is an American investor and the founder and CEO of Pershing Square Capital Management. He pursued his education at Harvard College, where he earned a Bachelor of Arts degree magna cum laude in social studies in 1988. Following this, he attained a Master of Business Administration degree from Harvard Business School in 1992. His early interest in investing was sparked by Benjamin Graham’s book, “The Intelligent Investor,” guiding his career path toward finance.
Ackman began his professional career in 1992 by co-founding Gotham Partners with fellow Harvard graduate David P. Berkowitz. The firm managed investments, growing to $500 million in assets under management by 1998. During this period, Ackman engaged in notable activities such as a bid for Rockefeller Center in 1995 with Leucadia National. Gotham Partners eventually faced challenges, leading to its liquidation in 2002. Undeterred, Ackman established Pershing Square Capital Management in 2004 with $54 million, including personal funds and investment from Leucadia National. This new venture became known for its concentrated portfolio and active investment approach, generating significant returns, including $11.6 billion in lifetime gains for the fund by 2014.
Throughout his career, Ackman has undertaken high-profile investments and campaigns. In 2002, he made a substantial bet against MBIA’s bonds, accurately predicting financial instability, which resulted in significant profits during the 2008 financial crisis. His firm has held stakes in major companies such as Target Corporation, Canadian Pacific Railway, J. C. Penney, Valeant Pharmaceuticals, Chipotle, Uber, Amazon and Nike. Ackman’s activism has also included a prolonged short position against Herbalife from 2012 to 2018. Despite some controversial outcomes, such as the Valeant investment, Pershing Square rebounded with a 58.1% return in 2019, cementing its status as a top-performing hedge fund. In 2020, Ackman successfully hedged Pershing Square’s portfolio before the COVID-19 stock market crash, generating $2.6 billion.
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