Career Timeline of Bill Ackman: Major Achievements and Milestones

How Bill Ackman built a successful career. Explore key moments that defined the journey.

Bill Ackman is an American billionaire and the founder and CEO of Pershing Square Capital Management, a hedge fund. Known for his activist investing approach, Ackman's net worth is estimated at $9.1 billion as of May 2025. He is a prominent figure in the world of finance.

Sections (5)

Full Timeline Early Life & Education Career & Achievements Challenges & Struggles Controversies & Scandals

1988: Graduation from Harvard College

In 1988, Ackman graduated magna cum laude from Harvard College with a Bachelor of Arts degree in social studies. His thesis was titled "Scaling the Ivy Wall: The Jewish and Asian American Experience in Harvard Admissions".

1992: Founding of Gotham Partners

In 1992, Ackman co-founded the investment firm Gotham Partners with David P. Berkowitz, another Harvard graduate. The firm focused on making small investments in public companies.

1992: MBA from Harvard Business School

In 1992, Ackman received a Master of Business Administration degree from Harvard Business School, furthering his education and preparing him for his career in finance.

1995: Bid for Rockefeller Center

In 1995, Ackman, through Gotham Partners, partnered with Leucadia National to bid for Rockefeller Center. Although the bid was unsuccessful, it attracted significant investor interest in Gotham.

2002: Researching MBIA

In 2002, Ackman researched MBIA to challenge Standard & Poor's AAA rating of its bonds, leading to significant legal expenses and scrutiny of the financial services company.

2004: Founding Pershing Square Capital Management

In 2004, Ackman founded Pershing Square Capital Management with $54 million from his personal funds and Leucadia National, marking a significant step in his career.

2004: Launch of Pershing Square

In 2004, Pershing Square was launched.

2006: Founding of the Pershing Square Foundation

In 2006, Ackman and his then-wife Karen founded the Pershing Square Foundation to support innovative organizations focused on various causes, committing over $750 million in grants since its inception.

2008: Profiting from MBIA's Credit Default Swaps

During the 2008 financial crisis, Ackman profited significantly by buying credit default swaps against MBIA corporate debt and selling them.

2008: Shorting MBIA's Bonds

In 2008, Ackman notably shorted MBIA's bonds during the financial crisis, a move that gained him significant recognition.

January 16, 2009: Covering Short Position on MBIA

On January 16, 2009, Ackman covered his short position on MBIA, as reported in a 13D filing with the SEC, marking the end of a lucrative bet against the company during the financial crisis.

2010: Chairman of Howard Hughes Holdings

In 2010, Ackman became chairman of Howard Hughes Holdings.

2010: Investment in J. C. Penney

In 2010, Pershing Square began investing in J. C. Penney, acquiring 39 million shares at an average price of $22 per share, representing 18% of the company's stock.

2011: Listed in Philanthropy 50

In 2011, Bill and Karen Ackman were recognized as some of the most generous donors and were listed on The Chronicle of Philanthropy's "Philanthropy 50".

December 2012: Short Bet Against Herbalife

In December 2012, Ackman announced that Pershing Square had taken a $1 billion short position against Herbalife, a company selling weight-loss and vitamin supplements, labeling it a "pyramid scheme".

2012: Short Against Herbalife Begins

In 2012, Ackman initiated a US$1 billion short against Herbalife, which he characterized as a pyramid scheme.

August 2013: Ackman Steps Down from J. C. Penney Board

In August 2013, Ackman resigned from the board of J. C. Penney following disagreements with other board members, ending his two-year campaign to transform the department store.

2014: Pershing Square's Net Gains

In 2014, Pershing Square delivered $4.5 billion in net gains for investors.

April 27, 2016: Testimony Before Senate Committee on Aging

On April 27, 2016, Ackman testified before the United States Senate Special Committee on Aging, along with Valeant Pharmaceuticals' executives, to address concerns about the company's business model and pricing practices.

March 2017: Sale of Valeant Shares

In March 2017, Ackman sold his remaining shares in Valeant Pharmaceuticals to Jefferies for approximately $300 million, resulting in a substantial loss on his initial investment.

November 2017: Covering Short-Sell Position in Herbalife

In November 2017, Ackman announced that he had covered his short-sell position against Herbalife but would continue to bet against the company using put options.

January 2018: Return to Basics

In January 2018, following a period of underperformance, Ackman announced a return to basics, which included cutting staff and focusing on research.

February 28, 2018: Exit from Herbalife Bet

On February 28, 2018, Ackman exited his near billion-dollar bet against Herbalife at a loss, concluding a long and contentious campaign against the company.

2018: End of Herbalife Short

In 2018, Ackman concluded his US$1 billion short against Herbalife.

2019: Pershing Square Returns

In 2019, Pershing Square rebounded, returning 58.1%, and becoming one of the best-performing hedge funds.

March 3, 2020: Disclosure of Hedging Portfolio

On March 3, 2020, Pershing Square first disclosed the hedge, initiated by Ackman, on their portfolio investing $27 million to purchase credit protection, effectively insuring against steep market losses ahead of the 2020 stock market crash.

March 18, 2020: Call for Economic Shutdown

On March 18, 2020, Ackman called for a "30-day shutdown" of the American economy in a CNBC interview to combat the coronavirus pandemic, warning of severe economic consequences without intervention.

March 15, 2021: Donation of Coupang Shares

On March 15, 2021, Ackman donated 26.5 million shares in Coupang, a South Korean e-commerce company, valued at $1.36 billion, to charitable entities including his own foundation, marking a significant philanthropic contribution.

2021: Ackman Listed Again in Philanthropy 50

In 2021, Ackman was again listed in The Chronicle of Philanthropy's "Philanthropy 50" with Neri Oxman, recognizing their continued charitable contributions.

December 2022: Charity Lunch Auction

In December 2022, Ackman partnered with the David Lynch Foundation to auction a lunch with himself for charity, supporting New York's frontline healthcare workers, police, and veterans.

February 2023: Funding for Sabatini's new research lab

In February 2023, Bill Ackman announced that his foundation and an anonymous donor would jointly provide US$25 million over five years to David Sabatini for establishing and operating a new research laboratory.

August 1, 2024: Withdrawal of Pershing Square IPO

On August 1, 2024, Ackman withdrew the IPO for Pershing Square after failing to raise the targeted $25 billion, securing only $2 billion. He subsequently announced plans to relaunch a version of the fund with a new transaction structure.