Most Talked-About Controversies Linked to Bill Ackman

Controversies are a part of history. Explore the biggest scandals linked to Bill Ackman.

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.

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

2003: Feud with Carl Icahn

In 2003, a feud began between Ackman and Carl Icahn over a deal involving Hallwood Realty, leading to a legal battle and a "shmuck insurance" arrangement.

April 2004: HRPT Acquires Hallwood, Icahn Refuses Payment

In April 2004, HRPT Property Trust acquired Hallwood for $136.16 per share. Under the terms of their previous agreement, Icahn owed Ackman about $4.5 million, but Icahn refused to pay. Ackman subsequently sued.

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.

January 2013: Icahn Challenges Ackman's Comment and Takes Stake in Herbalife

In January 2013, Carl Icahn challenged Ackman's comments on Herbalife in a public spat on national TV and announced a stake in Herbalife, beginning a long-term battle over the company's value.

April 2014: FBI Probes Herbalife

In April 2014, Reuters reported that the FBI conducted a probe into Herbalife and reviewed documents obtained from the company's former distributors, amidst Ackman's campaign against the company.

March 12, 2015: Federal Prosecutors Investigate Allegations Related to Herbalife

On March 12, 2015, reports surfaced that federal prosecutors and the FBI were investigating whether individuals hired by Ackman made false statements in an effort to encourage investigations and lower Herbalife's stock price. Ackman reaffirmed his claims against Herbalife.

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.

July 2016: Herbalife Settles with FTC

In July 2016, Herbalife settled with the Federal Trade Commission (FTC), agreeing to pay $200 million and restructure its business practices in exchange for not being labeled as a pyramid scheme. The FTC found that Herbalife deceived consumers.

2019: Herbalife Pays SEC Fine

In 2019, Herbalife paid the SEC $20 million to settle charges related to false and misleading statements about its business model in China.

2020: Herbalife Fined for Bribery

In 2020, Herbalife paid more than $122 million after the Department of Justice and SEC found that it falsified books and records and provided corrupt payments to Chinese government officials to expand its business in China.

March 1, 2022: Remarks about Sabatini's unfair treatment

On March 1, 2022, Bill Ackman delivered remarks at a Pershing Square Foundation event regarding what he described as the unfair treatment of biologist David M. Sabatini.

2022: Herbalife Settles RICO Violations Case

In 2022, Herbalife paid $12.5 million to settle a case of alleged RICO violations, further highlighting legal challenges faced by the company.

October 8, 2023: Demand for publication of student names

On October 8, 2023, following the Hamas attack on Israel, Bill Ackman demanded the publication of names of Harvard students who signed a letter condemning Israeli actions, with the intention of ensuring his company and others would not "inadvertently hire" them.

November 2023: Support for Elon Musk and campaign against Claudine Gay

In November 2023, Bill Ackman supported Elon Musk's controversial remarks and initiated a campaign to remove Claudine Gay from her position as Harvard's president, citing her response to antisemitism and allegations of plagiarism.

January 3, 2024: Business Insider article on Neri Oxman's plagiarism

On January 3, 2024, Business Insider published an exposé detailing how Bill Ackman's wife, Neri Oxman, plagiarized portions of her dissertation.

January 10, 2024: Ackman's alleged ceased participation in group chat

A spokesperson for Bill Ackman stated that on January 10, 2024, he ceased participation in the WhatsApp group chat.

April 2024: Video call with Mayor Eric Adams

In April 2024, members of the 2023-2024 WhatsApp group chat held a video call with New York City Mayor Eric Adams to pressure Columbia University to permit police intervention against campus protests. Bill Ackman's spokesperson said Ackman had not spoken to Adams about the Columbia protests or donated to Adams's campaign.

May 16, 2024: Involvement in WhatsApp group chat to influence opinion on Israel

On May 16, 2024, it was reported by The Washington Post that Bill Ackman was part of a WhatsApp group chat with Israeli military and US business leaders aimed to influence U.S. public opinion in favor of Israel. They screened a film titled "Bearing Witness to the October 7th Massacre", which shows footage compiled by the Israeli Defense Forces.

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2024: Endorsement of Donald Trump

In 2024, despite being a longtime donor to Democratic candidates, Ackman endorsed Donald Trump in the United States presidential election. He also publicly supported Israel's actions in the Gaza genocide and demanded the publication of names of Harvard students involved in signing a letter condemning statements from Israeli officials.