Betting on AckmanBill Ackman has gained new prominence in recent months for his outspoken presence on social media.
But he has also made riches for his investors and himself — and now others are hoping he’ll continue to do so.
His Pershing Square Capital Management has sold a 10 percent stake for just over $1 billion to an array of outside investors, giving the hedge fund a lofty valuation.
The question is whether Ackman’s newfound fans on social media will follow him as he grows his empire, including through a new listed fund and, eventually, an I.P.O.
That has bolstered Ackman’s paper worth to $8 billion, Bloomberg calculates, making him 333rd among the world’s wealthiest people.
Persons:
Bill Ackman, —, he’ll, BTG, Marc Lasry, Doug Hirsch
Organizations:
Pershing, Capital Management, Arch Capital, Iconiq Investment Management, Bloomberg