Bill Ackman Net Worth 2022: How Much Money He Earn With Gotham Associates
Bill Ackman Net Worth: Stock market investor Bill Ackman The American hedge fund manager, investor, and philanthropist Bill Ackman (also known as William Albert Ackman) has amassed a considerable fortune.
He established the hedge fund management firm Pershing Square Capital Management, where he serves as CEO. After completing an MBA programme at Harvard, he entered the family business in real estate, joining his father at “Ackman Brothers & Singer Inc.
Pershing Square Capital Management was founded in 2004 when he re-entered the hedge fund market after the demise of “Gotham,” a company that made small investments in public companies. As of December 2015, the company’s total assets were approximately $12. 4 billion.
Bill Ackman Net Worth
Bill Ackman is an American hedge fund manager and philanthropist who has amassed a net worth of $3.4 billion. He is best known as the founder and CEO of investment firm Pershing Square Capital Management LP, where he amassed a fortune.
Through Pershing, Bill has spearheaded high-profile activist campaigns against companies like Wendy’s and, most notably, Herbalife. Earlier in his career, Ackman co-founded the investment firm Gotham Partners.
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Bill Ackman Early Life
On May 11, 1966, in Chappaqua, New York, William Ackman was born to Lawrence Ackman, the former chairman of real estate financing firm Ackman-Ziff Real Estate Group, and his wife Ronnie. There is Jewish ancestry in his family tree. Ackman received his bachelor’s degree in social studies with honours from Harvard University in 1988. After that, he completed his education at Harvard Business School, from where he earned an MBA in 1992.
Ackman and fellow Harvard alum David P. Berkowitz established the investment firm Gotham Partners after they both graduated. By the late 1990s, the firm was in charge of $500 million in assets, thanks to a rapid surge in investor interest.
However, by the year 2002, Gotham was involved in lawsuits with various outside shareholders who had holdings in the companies in which Gotham had invested. By trading credit default swaps on MBIA‘s corporate debt during the 2007–2008 financial crisis, Ackman ultimately made a tidy profit.
Bill Ackman Gotham Associates
In 2004, Ackman put up more than $50 million of his own money to launch the hedge fund management business Pershing Square Capital Management. To far, the company has amassed a lifetime profit of $11.6 billion. Pershing has bought significant shares in several well-known companies, including Wendy’s, Target, General Growth Properties, JCPenney, Procter & Gamble, and Chipotle.
In addition, it had purchased a 9% stake in Valeant Pharmaceuticals International, which it later sold for a $4 billion loss when the company’s pharmaceutical pricing and administration troubles came to light. In 2021, among Pershing’s other major investments, the firm acquired over 10% of Universal Music Group’s share capital.
After investing $1.1 billion in Netflix the next year, Pershing sold all of its shares in April, when the company’s stock dropped by 35%. Consequently, $430,000,000 was lost by Pershing.
Bill Ackman Square Capital
Ackman’s blank check company, Pershing Square Tontine Holdings, went public in 2020 at a $4 billion valuation, making it the largest SPAC IPO in history. When an acquisition target is found, the company’s Tontine structure encourages owners to keep their shares during the merger.
In addition to his business and financial management endeavours, Ackman has taken a keen interest in philanthropic causes. His commitment of almost $7 million to the Center for Jewish History was among the largest ever given by an individual donor.
Bill Ackman Philanthropy
As a generous benefactor, Ackman has contributed significantly to the causes of urban and economic development, healthcare, education, and innovation via the nonprofit organisation Pershing Square Foundation, which he co-founded in 2006.
Billionaire Bill Ackman has donated $1.3 billion of his Coupang shares to philanthropy https://t.co/4ycffVer48 pic.twitter.com/tKT8lRulzU
— Forbes (@Forbes) March 16, 2021
The Foundation has provided significant financing to a wide variety of causes and organisations, including but not limited to: The Innocence Project; Centurion Ministries; and Planned Parenthood.
Bill Ackman Personal Life
Landscape architect Karen Herskovitz became the wife of Bill Ackman in 1994. They married and had three children together before splitting up in 2018. Together with his wife Neri Oxman, an MIT professor and designer, Ackman had a child in the early months of the next year.
Bill Ackman Real Estate
Bill spent $22 million buying a seaside mansion in the Hamptons village of Bridgehampton in 2011. In 2015, they dropped $23.5 million for an adjacent six-acre plot of land. Bill spent $91.5 million purchasing a penthouse at the One57 building at 157 West 57th Street in New York City in 2015.
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