Hedgefund Manager Bill Ackman's Views on Harvard Students Have Hit Headlines; Here's His Net Worth
| Name | William Ackman |
| Net Worth | $3.6 Billion |
| Sources of Income | Hedge fund |
| Gender | Male |
| DOB | May 11, 1966 |
| Age | 57 years old |
| Nationality | American |
| Profession | Investor, hedge fund manager |
What is Bill Ackman's net worth?
Recently in the news for his call to blacklist Harvard students for opposing Israel, American hedge fund manager Bill Ackman manager has amassed a $3.6 billion net worth through investments. He has has built his wealth primarily through his company, Pershing Square Capital Management LP, which was established after Ackman made a name for shorting MBIA stocks. His bet was the company's shares would tank and he made a fortune when the prediction turned out to be right. He often makes headlines for controversial takes, including his assertion that Hindenburg Research's report accusing Adani of stock market fraud was highly credible.
What are Bill Ackman's sources of income?
Ackman's primary source of income stems from his successful venture, Pershing Square Capital Management, which has engaged in high-profile activist campaigns and investments in various renowned companies, including Wendy's, Target, and Procter & Gamble, among others.
Bill Ackman's career has been defined by his significant contributions to the investment world, ever since he started with the creation of Gotham Partners, a promising investment firm that faced some tough legal challenges along the way. Undeterred by initial glitches, Ackman went on to establish Pershing Square Capital Management, which turned out to be a big success, making clever investments in famous companies. His bold move against Herbalife, a nutrition company, caused quite a stir, leading to investigations and even a documentary about his battle. His investment strategies and controversial career have been covered in a documentary titled "Betting on Zero."
Bill Ackman's earnings
Ackman's investment approach often involves identifying strong businesses with the potential to generate quality earnings and holding onto them for the long term. This strategy aligns with Warren Buffett's investment philosophy, which emphasizes the importance of long-term investments in excellent businesses. Ackman has been influenced by Buffett's trajectory in the investment world, and he considers Buffett as an unofficial mentor.
The economy is slowing faster than recent data suggests.
— Bill Ackman (@BillAckman) October 23, 2023
In a recent instance, Bill Ackman made an impressive profit of $200 million by strategically betting against U.S. government bonds. He used options and derivatives to profit from falling bond prices without having to borrow and sell the underlying bonds. While the trade earned him about $300 million from market moves, he also paid around $100 million in premiums to maintain his position. This profit contributed to the success of Pershing Square Capital Management's flagship fund, which gained 11.6% in the year to October 17.
Real estate and other assets
Ackman also makes headlines with his property purchases, including a stunning waterfront estate in Bridgehampton in 2011, valued at $22 million. In 2015, he acquired a neighboring six-acre property for $23.5 million. Ackman also invested $91.5 million in a penthouse at the prestigious One57 building in New York City in the same year. Notably, in 2018, he added a 13-room penthouse at 6-16 West 77th Street to his real estate portfolio, creatively combining four separate apartments across the 16th and 17th floors. This acquisition came with ambitious plans for a two-level, glass addition on the roof, which received approval in May 2022, following a mix of support and opposition from the city building commission and locals.
Personal life and philanthropic efforts
Ackman has had a dynamic personal life, including his marriage to landscape architect Karen Herskovitz, with whom he has three children. He later married designer and MIT professor Neri Oxman. His personal life has been a subject of interest, especially concerning his high-profile real estate investments and philanthropic activities. He has made substantial donations to the Center for Jewish History and the founding of the Pershing Square Foundation, to support education, healthcare, and economic development.
Controversy
One of Ackman's most significant controversies arose from his aggressive stance against Herbalife, a nutrition marketing company, which led to a high-profile battle and subsequent investigations by the FTC and FBI. This activist campaign resulted in a significant financial loss of $500 million for Ackman. Additionally, his investments in various companies, including Valeant Pharmaceuticals International and Netflix, also stirred up controversies, with some investments leading to substantial losses.
FAQs
What is Bill Ackman's net worth?
Bill Ackman's net worth is $3.4 billion.
How did Bill Ackman start his hedge fund?
In 1992, Ackman completed his MBA and launched his first hedge fund, Gotham Partners.
What is Bill Ackman's greatest trade of all time?
The greatest bet of Ackman's career was Pershing Square's turnaround of troubled mall operator General Growth Properties from the brink of bankruptcy.