Bill Ackman Net Worth, Biography, News, FAQ
|Popular Name:||Bill Ackman|
|Real Name:||William Albert Ackman|
|Birth Date:||May 11, 1966|
Chappaqua, New York, United States
Karen Herskovitz (m. 1994; div. 2018)
Neri Oxman (m. 2019)
|Profession:||Investor, Hedge Fund Manager|
|Net Worth:||$3.2 Billion|
William Albert Ackman is an American investor and hedge fund manager. He is best known for being the founder and chief executive officer of the hedge fund management company Pershing Square Capital Management. Likewise, he is known for single-handedly leading his company and his investment approach makes him an activist investor. As of this writing, Bill Ackman’s net worth is $3 billion, all earned from his career in business.
Early Life: Childhood, Education
Bill Ackman was born on the 11th of May in the year 1966 in Chappaqua, New York, the United States to parents Lawrence David and Ronnie Ackman. He is of Ashkenazi Jewish descent and has just one sibling, a sister who goes by the name of Jeanne Ackman.
His father was the chairman of the real estate financing company known as Ackman-Ziff Real Estate Group, while his mother’s occupation has never been given in the media.
Concerning his education, Bill Ackman graduated magna cum laude from Harvard College with a Bachelor of Arts degree in social studies in 1988. He later received an MBA from Harvard Business School in the year 1992.
Professional Life: Career in Business
After graduating from Harvard Business School with his MBA, Mr. Ackman collaborated with one of his fellow graduates and they founded the investment firm called Gotham Partners. By 1998, the investment company already had $500 million in assets under management. Impressively, the businessman boosted his fortune during the financial crisis of 2007-2008 by purchasing credit default swaps against MBIA corporate debt and later selling them for big profits. He once successfully sued Carl Icahn for more than $4 million-plus nine percent interest.
In 2004, Ackman and his former business partner Leucadia National put together $54 million of their personal funds to establish the hedge fund, management company Pershing Square Capital Management. Since then, his most successful financial moves include reaching a buyout of Barnes & Noble for $900 million, owning a 10 percent stake in the Target Corporation, and holding a 38 percent stake in Borders Group.
The businessman foresaw the covid-19-influenced 2020 stock market crash by hedging Pershing Square’s portfolio. In doing so, he was risking $27 million to buy credit protection as insurance. Overall, the hedge was a remarkable success, generating nearly $3 billion in less than one month.
The hedge fund manager recently revealed that Pershing Square purchased a $1.1 billion stake in the video streaming and production company Netflix after the streaming giant experienced a 30 percent selloff following a disappointing subscriber growth outlook at the beginning of the year 2022.
His performances in business aside for just a second, there’s every need to commend Bill Ackman for his role in philanthropy over the last couple of years. He has been very generous in giving away part of his wealth to charitable causes.
In 2006, he and his former-wife Karen established the Pershing Square Foundation. The cause has committed over $400 million in grants since it was founded.
He has joined many other billionaires and millionaires from all parts of the globe to sign The Giving Pledge initiative, committing to give away at least 50 percent of his fortune to charities.
Personal Life: Wife, Children, Height, Weight
Wondering how tall Bill Ackman is? Well, several reports indicate that the billionaire stands approximately 175 centimeters tall. He has a weight of around 75 kilograms.
Concerning his relationships, the hedge fund manager initially married a landscape architect named Karen Ann Herskovitz in July 1994. However, their marriage lasted for two decades before they would get divorced. Their union resulted in the birth of their three children together, namely Eloise, Lucy, and Liza.
In 2018, he became engaged to American–Israeli MIT professor and designer Neri Oxman. In January the following year, they married at the Central Synagogue in Manhattan, New York. They have one child together.
Bill Ackman Net Worth: Salary, Income Sources, Assets, Private Jet
In 2020, Forbes magazine claimed that Bill Ackman’s net worth was $1.9 billion. Another report by Institutional Investor claimed that the businessman raked in approximately $1.4 billion in that year alone. Today, the William Ackman net worth figure stands at over $3.2 billion, with the majority of his wealth derived from his management of the successful hedge fund management firm Pershing Square Capital Management.
Contributing to his bank balance is his Pershing Square Tontine Holdings Limited filing 3 billion dollars for the largest-ever blank-check company Initial Public Offering ever in 2020.
He has homes scattered around the United States, with his primary residence being a lavish mansion in New York. He is the owner of a Gulfstream G550 business jet, reported to be worth $54.5 million as per recent estimates.