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 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.

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

2003: Feud Develops Between Ackman and Icahn Over Hallwood Realty

In 2003, a feud developed between Bill Ackman and Carl Icahn over a deal involving Hallwood Realty. They agreed to a "shmuck insurance" arrangement.

April 2004: HRPT Property Trust Acquires Hallwood, Icahn Refuses to Pay Ackman

In April 2004, HRPT Property Trust acquired Hallwood, requiring Carl Icahn to pay Bill Ackman and his investors about $4.5 million under their agreement. Icahn refused to pay, leading to a lawsuit.

2005: Herbalife Distributor Training Session Released

In December 2, 2014, Pershing Square Capital released a 2005 Herbalife distributor training session, in which an employee described high turnover rates and implied that the company's business model was not sustainable.

May 2012: Pershing Square Shorts Herbalife Shares

In May 2012, Bill Ackman's hedge fund, Pershing Square Capital Management, sold short Herbalife's shares directly, causing its stock price to drop.

December 2012: Ackman Criticizes Herbalife's Business Model

In December 2012, Bill Ackman issued a research report criticizing Herbalife's multi-level marketing business model, calling it a pyramid scheme.

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.

January 25, 2013: Ackman and Icahn Clash on CNBC

On January 25, 2013, Bill Ackman and Carl Icahn had a public spat on CNBC regarding Ackman's short position on Herbalife.

April 30, 2013: Ackman Donates to Democratic Senatorial Campaign Committee

On April 30, 2013, Bill Ackman donated $32,000 to the Democratic Senatorial Campaign Committee on the same day Ed Markey won the Democratic primary for the Senate special election in Massachusetts.

May 2013: Icahn Buys Shares of Herbalife International

In May 2013, Carl Icahn owned 16.5% of the Herbalife International company.

November 2013: Icahn Reduces Stake in Herbalife

By November 2013, Carl Icahn's ownership in Herbalife declined to 6.4%.

November 22, 2013: Ackman Admits Losses on Herbalife Short Position

On November 22, 2013, Bill Ackman admitted that Pershing Square's open short position in Herbalife was "$400 million to $500 million" in the red, but that he would hold the short "to the end of the earth".

March 2014: Ackman's Tactics to Undermine Herbalife Reported

In March 2014, The New York Times reported that Bill Ackman had employed tactics to undermine public confidence in Herbalife, including pressuring regulators, paying individuals to participate in rallies, and increasing donations to nonprofit Latino organizations.

December 2, 2014: Herbalife Stock Prices Fall

By December 2, 2014, Herbalife stock prices had fallen nearly 50% to $42.08 from their January 8 high of $83.48.

2014: Ackman Launches PR Campaign Against Herbalife

In 2014, Bill Ackman spent $50 million on a public relations campaign against Herbalife.

2014: Call for Investigation into Ackman's Herbalife Campaign

In 2014, former Representative Bob Barr called on Congress to investigate Bill Ackman's use of public relations and regulatory pressure in his short campaign against Herbalife.

March 12, 2015: Investigation into Ackman's Herbalife Campaign

On March 12, 2015, The Wall Street Journal reported that prosecutors and the FBI were investigating whether people hired by Bill Ackman "made false statements about Herbalife's business model to regulators and others in order to spur investigations into the company and lower its stock price".

March 2015: Herbalife Lawsuit Dismissed; Stock Rises

In March 2015, a suit filed by Herbalife investors alleging an illegal pyramid scheme was dismissed, causing Herbalife stock to rise approximately 13%.

2015: Ackman Predicts Herbalife Implosion

In December 2, 2014, Bill Ackman predicted that Herbalife would experience an "implosion" in 2015 or early 2016, citing federal scrutiny and debt.

April 27, 2016: Ackman Testifies Before Senate Committee on Aging

On April 27, 2016, Bill Ackman testified before the United States Senate Special Committee on Aging regarding Valeant Pharmaceuticals' business model and pricing practices.

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.

2016: Ackman Predicts Herbalife Implosion

In December 2, 2014, Bill Ackman predicted that Herbalife would experience an "implosion" in 2015 or early 2016, citing federal scrutiny and debt.

November 2017: Ackman Covers Herbalife Short Position, Uses Put Options

In November 2017, Bill Ackman told Reuters that he had covered his short-sell position in Herbalife, but would continue to bet against the company using put options with no more than 3% of Pershing Square's funds.

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.

March 18, 2020: Ackman Calls for Economic Shutdown

On March 18, 2020, in a phone interview with CNBC, Bill Ackman called upon President Donald Trump for a "30-day shutdown" of the American economy to slow the spread of coronavirus. He warned of potential economic destruction.

2020: Tennis comments

In 2020, Bill Ackman controversially commented that he could play a close and even doubles match against John McEnroe in a Bloomberg News interview with David Rubenstein.

March 1, 2022: Remarks about Sabatini's treatment

On March 1, 2022, Bill Ackman delivered remarks at a Pershing Square Foundation event about what he called David M. Sabatini's unfair treatment after allegations of sexual misconduct.

October 8, 2023: Demand for names of Harvard students

On October 8, 2023, following the Hamas-led attack on Israel, Bill Ackman demanded the publication of the names of Harvard students who signed a letter condemning Israeli actions, so that he could ensure his company and others do not "inadvertently hire" any of the signatories.

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

In November 2023, Bill Ackman supported Elon Musk after his antisemitic remarks and engaged in a campaign to remove Claudine Gay from her position as Harvard's president.

2023: Video call

In 2023, Members of the 2023-2024 WhatsApp group chat also held a video call.

January 3, 2024: Business Insider publishes exposé on Oxman's dissertation

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 exit from WhatsApp group chat

On January 10, 2024, Bill Ackman reportedly exited the WhatsApp group chat.

April 2024: Video call with Mayor Eric Adams

In April 2024, members of the WhatsApp group chat held a video call with New York City Mayor Eric Adams to pressure Columbia's president and trustees to shut down campus protests.

May 16, 2024: WhatsApp group chat reported

On May 16, 2024, The Washington Post reported that Bill Ackman was involved in a long-standing WhatsApp group chat with Israeli military leaders and top US business leaders to "change the narrative" in favor of Israel.

2024: Ackman Endorses Trump and Supports Israel

In 2024, Bill Ackman, a longtime donor to Democratic candidates and organizations, endorsed Donald Trump in the United States presidential election. Ackman has also expressed public support for Israel's actions in the Gaza war and has demanded the publication of the names of Harvard students involved in signing a letter condemning statements from Israeli officials.