Ackerman is lauded for his simple yet sophisticated acoustic stylings that excel in creating the ultimate relaxed atmospheres. Ackman's Pershing Square Foundation has committed some $400 million to causes like the Innocence Project, Human Rights Watch and Teach For America. [51][52][53] During the segment, Icahn called Ackman "a crybaby in the schoolyard" and claimed that going public with his short position would eventually force Ackman into the "mother of all short squeezes". In December 2012, Ackman issued a research report that was critical of Herbalife's multi-level marketing business model, calling it a pyramid scheme. Coming out of the crisis, he at times topped Wall Street with activist wins on Canadian Pacific, Fortune Brands and Allergan. Of course, the usual caveats apply. "[10] In 1992, he received an MBA from Harvard Business School. His thesis was "Scaling the Ivy Wall: the Jewish and Asian American Experience in Harvard Admissions. Hedge fund manager William Ackman is retreating from his massive short trade against Herbalife by covering more than 40% of the position—but he is not giving up. He is the founder and CEO of Pershing Square Capital Management, a hedge fund management company. [59] Ackman warned that without intervention, hotel stocks were “going to zero” and said that America could “end as we know it." "[17][18][19] In April 2009, Merkin was charged with civil fraud by the State of New York for "secretly steering $2.4 billion in client money into Bernard Madoff's Ponzi fraud without their permission. [36], In 2014, Ackman spent $50 million on a public relations campaign against Herbalife, which was designed to hurt the company's stock price. [79], Ackman endorsed Michael Bloomberg as a prospective candidate for President of the United States in the 2016 presidential election. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, The Richest Hedge Fund Managers On The 2020 Forbes 400 List, Valeant Admits To 'Improper' Conduct, Ousts CEO, And Could Break Up. William Albert Ackman (born May 11, 1966) is an American investor and hedge fund manager. In April 2004, HRPT Property Trust acquired Hallwood, paying $136.16 per share. [28][29], According to Forbes Magazine, Ackman has a net worth of US$1.9 billion as of July 25, 2020, ranking him No. It takes one to know one. [63], Research published at the University of Oxford characterizes Ackman's activities with Canadian Pacific Railway as paradigmatic of "engaged activism," which is longer-term in nature with correlated benefits to the real economy, and distinct from shorter-term "financial activism. [33], A few months after Ackman's initial comments, billionaire investor Carl Icahn challenged Ackman's comment in a public spat on national TV. "[40], By December 2, 2014, stock prices had fallen nearly 50% to $42.08 from their January 8 high of $83.48. Herbalife dealt a blow to billionaire hedge fund manager William Ackman on Monday by announcing it had received re-audited financial statements with no meaningful revisions. [83], In 2018, Ackman became engaged to Neri Oxman. [26], On April 27, 2016, Ackman, along with Valeant Pharmaceuticals' outgoing CEO, J. Michael Pearson, and the company's former interim CEO, Howard Schiller, testified before the United States Senate Special Committee on Aging.
Mr. Ackman's team also then started to make payments totaling about $130,000 to some of these groups, including the Hispanic Federation — money he said was being used to help find victims of Herbalife. [5], Despite an ongoing probe of his trading by New York state and federal authorities, in 2002 Ackman began research challenging MBIA's AAA rating.

Ackman is considered by some to be a contrarian investor but considers himself an activist investor. Markey later told the Boston Globe that his staff had not informed him that Ackman stood to benefit financially from his actions and defended the letters as a matter of consumer rights. He reported covering his short position on MBIA on January 16, 2009, according to the 13D filed with the SEC. The Securities and Exchange Commission announced the filing of insider trading charges against two men accused of reaping tens of thousands of dollars in illicit profits based on advance knowledge of prominent hedge fund manager William Ackman's announcement that he had accumulated a massive short position in the shares of [...]. Ackman bought credit default swaps against MBIA corporate debt and sold them for a large profit during the financial crisis of 2007–2008. As Icahn continued to buy up HLF shares, the stock price continued to show strength. How far is Herbalife CEO Michael Johnson willing to go in his fight against hedge fund manager William Ackman? [23], Ackman started buying J. C. Penney shares in 2010, paying an average of $22 for 39 million shares or 18% of J.C. Penney's stock. Will Ackerman was born with four names, two of which he shed over the years. Escuche álbumes y pistas de William Ackerman. [68], Ackman has said that he admires short sellers such as Carson Block of Muddy Waters Capital and Andrew Left of Citron Research. Billionaire hedge fund manager William Ackman’s relentless short campaign against Herbalife got a boost on Thursday after Massachusetts Senator Edward Markey fired off letters pushing the Securities & Exchange Commission and the Federal Trade Commission to investigate the business practices of the diet shake seller. [75][76] The foundation is a major donor to Planned Parenthood. [44] In an interview with Bloomberg, Ackman predicted that the company would experience an "implosion" in 2015 or early 2016, citing federal scrutiny and debt. He is the founder and CEO of Pershing Square Capital Management, a hedge fund management company. They’ve all made big moves in the “blank check” market this week. [27] The testifying panel answered questions related to the committee's concerns about repercussions to patients and the health care system posed by Valeant's business model and controversial pricing practices. [78], In July 2014, Challenged Athletes Foundation, which provides sports equipment to those with physical disabilities, honored Ackman at a gala fundraiser at the Waldorf Astoria hotel in New York City for helping raise a record $2.3 million. [32] To make the distinction clearer, the company announced on its June 2013 earnings call that it would begin referring to these discount buyers as "members" rather than "distributors." © 2020 Forbes Media LLC. [15], In 2004,[1] with $54 million from his personal funds and from his former business partner Leucadia National, Ackman started Pershing Square Capital Management. 391 on the Forbes 400.[1][30]. [21] As a closed-end fund valued at $6.7 billion, PSH was designed as a permanent capital vehicle from which investors would not be able to directly withdraw funds. [45][46], On March 12, 2015, The Wall Street Journal reported that prosecutors in the Manhattan U.S. attorney's office and the FBI were investigating whether people hired by Ackman "made false statements about Herbalife's business model to regulators and others in order to spur investigations into the company and lower its stock price. Bachelor of Arts/Science, Harvard University; Master of Business Administration, Harvard Business School. Founder and CEO (for a time) of Windham Hill, acoustic multi-instrumentalist/ expert producer William Ackerman claims responsibility for launching the gentle style of music into the mainstream in the 1970s and '80s. His adoptive father was an English professor at Stanford University and his mother took her life when Will was 12. Melissa Piazza, Acoustic Alchemy, Alex de Grassi, Jim Brickman, Karunesh, Michael Hedges, Wind Machine, Terms of Use [citation needed], In December 2012, Pershing Square Capital Management launched a new closed-end fund called Pershing Square Holdings, which raised $3 billion in an October 2014 IPO on Amsterdam's Euronext stock market. [5] By 2002, Gotham had become entrenched in litigation with various outside shareholders who also owned an interest in the companies in which Gotham invested. [66] His efforts were reported in the documentary film Betting on Zero. I don't think so," and "I think [Merkin] is an honest person, an intelligent person, an interesting person, a smart investor. As a result of these changes, his firm Pershing Square returned 58.1% in 2019, which Reuters says qualified it as "one of the world’s best performing hedge funds" for 2019. (née Posner) and Lawrence David Ackman, the chairman of a New York real estate financing firm, Ackman-Ziff Real Estate Group. Shares of Herbalife tumbled by more [...]. [84] In January 2019, Oxman and Ackman married at the Central Synagogue in Manhattan,[7] and they had their first child together in spring 2019. Ackman called for a division between MBIA's bond insurers' structured finance business and its municipal bond insurance business. At a panel meeting discussing Bernie Madoff in January 2009, Ackman defended his longtime friend Ezra Merkin, saying, "Has Ezra committed a crime? | Since 2014, Forbes has assigned a self-made score to every member of The Forbes 400. [57] The hedge was effective, generating $2.6 billion in less than one month.

Badly in need of a transformative strategy, Ron Johnson was named  Myron Ullman’s successor by the JC Penney board under the thumbs of activist investors Steven Roth and William Ackman. [37][38], Former Rep. Bob Barr (R-GA) called on Congress to investigate Ackman's use of public relations and regulatory pressure in his short campaign, and Harvey L. Pitt, a former chairman of the Securities and Exchange Commission, has questioned whether Ackman aims to move the price rather than spread the truth. [74], In 2006, Ackman, and then wife Karen, founded the Pershing Square Foundation to support innovation in economic development, education, healthcare, human rights, arts and urban development. But do they know more than the rest of us? Wendy's spun off Tim Hortons through an IPO in 2006 and raised $670 million for Wendy's investors. He was adopted into the Ackerman family when he was 5 days old. [35] That number had declined to 6.4% by November 2013.

Hedge fund manager William Ackman is retreating from his massive short trade against Herbalife by covering more than 40% of the position—but he is not giving up. All Rights Reserved. [62], In June 2020, Ackman's Pershing Square Tontine Holdings, Ltd, filed $3 billion for the largest-ever blank-check company IPO.