Challenges Faced by Bill Ackman: Obstacles and Turning Points

Resilience and perseverance in the journey of Bill Ackman. A timeline of obstacles and growth.

Bill Ackman is an American billionaire hedge fund manager and the founder and CEO of Pershing Square Capital Management. Known for his activist investment style, Ackman's strategic moves in the financial world have garnered him significant attention and wealth, with a net worth estimated at $9.3 billion as of June 2024. He is a prominent figure in the world of finance and investment.

Sections (5)

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

2002: Gotham Partners Faces Litigation

By 2002, Gotham Partners became embroiled in litigation with various external shareholders who also owned an interest in the companies in which Gotham invested.

2002: Ackman Challenges MBIA's Rating

In 2002, Bill Ackman researched MBIA to challenge Standard & Poor's AAA rating of its bonds. His law firm copied 725,000 pages of statements at a cost of over $100,000, and he called for a division between MBIA's structured finance and municipal bond insurance businesses.

2007: Shorting MBIA's bonds

In 2007, Bill Ackman began shorting MBIA's bonds during the financial crisis.

2008: Shorting MBIA's bonds

In 2008, Bill Ackman continued shorting MBIA's bonds during the financial crisis.

2012: US$1 billion short against Herbalife

In 2012, Bill Ackman held a US$1 billion short against the nutrition company Herbalife, which he described as a pyramid scheme.

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

In August 2013, Bill Ackman stepped down from the J. C. Penney board following a disagreement with fellow board members, ending a two-year campaign to transform the department store.

2015: Weak Performance

Bill Ackman's performance was weak from 2015.

July 2016: Herbalife and FTC Reach Settlement

In July 2016, Herbalife and the FTC reached a settlement agreement, ending the agency's investigation into the company. Fortune estimated that Bill Ackman lost $500 million on the day of the settlement.

March 2017: Ackman Sells Valeant Position at a Loss

In March 2017, Bill Ackman sold his remaining share position in Valeant Pharmaceuticals to Jefferies for about $300 million, incurring a substantial loss estimated at $4.6 billion.

January 2018: Back to basics

In January 2018, Bill Ackman announced that he was going back to basics by cutting staff and focusing on research after weak performance.

February 28, 2018: Ackman Exits Bet Against Herbalife

On February 28, 2018, Bill Ackman exited his near billion-dollar bet against Herbalife after the company's stock price continued to rise.

2018: US$1 billion short against Herbalife

In 2018, Bill Ackman ended his US$1 billion short against the nutrition company Herbalife, which he described as a pyramid scheme.

August 1, 2024: Ackman Withdraws Pershing Square IPO

On August 1, 2024, Bill Ackman withdrew the IPO to take Pershing Square public after only securing $2 billion of the aimed $25 billion. He announced plans to relaunch a version of the fund with a new "transaction structure."