Another of the important personalities that we will introduce to you is an American investor and hedge fund manager Bill Ackman. A man who managed to earn more than two billion dollars a year ago in a market panic.
10 points you need to know about Ackman
- Bill Ackman was born in 1966 into the family of a real estate businessman.
- His first step in the world of finance was the founding of the investment company Gotham, which he co-founded in 1992 with David Berkowitz.
- While still in Gotham, he led a dispute with the financial company MBIA. As a result, he bought credit default swaps against MBIA corporate debt and still benefited greatly during the financial crisis in 2009.
- Another dispute was led by Ackman, directly with another US billionaire and hedge fund manager, Carl Ichan. After eight years, Ackman won.
- In 2004, he founded the company and current flagship Pershing Square Capital Management, which today has 13.1 billion dollars Assets Under Management.
- The second clash with Carl Ichan did not turn out so well for Ackman. His bet on the shorts of Herbalife shares turned out to be fatal, after a few years it ended in a loss of 1 billion dollars and guess who just made money on it.
- Nevertheless, his investment strategy is highly valued and much more successful in recent years.
- The basic and his first rule is: “Make a bold call that nobody believes in.”
- Ackman is also a prominent philanthropist, with his wife founded the Pershing Square Foundation.
- Bill Ackman’s net worth in 2021 was $ 3.3 billion, according to Forbes.
3 quotes of Ackman
“I think good private equity investors create a lot more economic value than they destroy.”
“I am always prepared to do the right thing regardless of what other people think.”
“If I believe that I am right, I will take it to the end of the earth until I am proven right.”