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 as an activist investor, Ackman's net worth is approximately $9.4 billion as of July 2025. He's a prominent figure in the world of finance.

Sections (5)

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

2003: Feud with Carl Icahn Begins

In 2003, a feud started between Ackman and Carl Icahn over an investment deal.

2011: Icahn Pays Ackman $9 Million in Lawsuit

In 2011, Carl Icahn was forced to pay Bill Ackman $4.5 million plus 10% interest per year and legal fees, totaling $9 million, following a lawsuit.

December 2012: Ackman Announces Short Bet Against Herbalife

In December 2012, Bill Ackman announced that Pershing Square had made a $1 billion short bet against Herbalife, a weight-loss and vitamin supplement maker, labeling it a "pyramid scheme".

2012: Shorting Herbalife

From 2012, Ackman held a US$1 billion short against Herbalife, which he described as a pyramid scheme. His efforts were documented in the film "Betting on Zero".

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January 2013: Icahn Challenges Ackman's Herbalife Comment

In January 2013, Carl Icahn challenged Ackman's comment regarding Herbalife during a CNBC appearance, leading to a contentious exchange and Icahn announcing a stake in Herbalife to counter Ackman's short position.

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.

March 12, 2015: FBI and Federal Prosecutors Investigate Ackman's Actions Regarding Herbalife

On March 12, 2015, reports surfaced that federal prosecutors and the FBI were probing whether individuals hired by Ackman made false statements to encourage investigations and lower Herbalife's stock. Ackman affirmed his stance against Herbalife.

April 27, 2016: Testimony Before Senate Committee on Aging

On April 27, 2016, Ackman, J. Michael Pearson, and Howard Schiller testified before the United States Senate Special Committee on Aging regarding Valeant Pharmaceuticals' business model and pricing practices. Ackman acknowledged his investment as an endorsement of Valeant's strategy.

July 2016: Herbalife Settles with FTC for $200 Million

In July 2016, Herbalife settled with the Federal Trade Commission, agreeing to pay $200 million and restructure its business practices to avoid being labeled a pyramid scheme. The FTC found that Herbalife had "deceived consumers."

2018: Ackman's Short Against Herbalife Ends

In 2018, Ackman's US$1 billion short against Herbalife, a company he described as a pyramid scheme, came to an end.

2019: Herbalife Pays SEC $20 Million

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

March 18, 2020: Ackman Calls for Economic Shutdown

On March 18, 2020, Bill Ackman called for a "30-day shutdown" of the American economy to President Donald Trump during a CNBC interview to slow the spread of coronavirus and minimize loss of life and economic destruction. He also warned about the potential collapse of hotel stocks and urged U.S. companies to halt stock buybacks.

2020: Herbalife Pays Over $122 Million for Corruption

In 2020, Herbalife paid over $122 million after the Department of Justice and SEC found that it falsified books and records and made corrupt payments to Chinese government officials to obtain and retain business in China.

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 biologist David M. Sabatini's unfair treatment, who was fired due to allegations of sexual misconduct.

2022: Herbalife Pays $12.5 Million in RICO Case Settlement

In 2022, Herbalife settled a case of alleged RICO violations for $12.5 million.

October 8, 2023: Ackman demands names of Harvard students

On October 8, 2023, in response to a letter from Harvard student groups condemning Israeli actions, Ackman demanded the publication of the names of all students involved, 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, Ackman supported Elon Musk after he expressed support for antisemitic remarks. That same month, Ackman engaged in a campaign to remove Claudine Gay from her position as Harvard's president.

2023: Support for RFK Jr's stance on vaccinations

In 2023, Ackman declared support for RFK Jr's stance on vaccinations, saying he raised important issues about vaccines and their safety.

January 3, 2024: Business Insider publishes exposé on Neri Oxman

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

January 2024: Calls for resignation after Gay's resignation

In January 2024, after Claudine Gay resigned, Ackman called for the resignation of Harvard Board Chair Penny Pritzker and other members of the board and described the university's diversity, equity, and inclusion movement as the "root cause of antisemitism at Harvard" and "racism against white people".

April 2024: WhatsApp group call with Mayor Eric Adams

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

May 16, 2024: Ackman's involvement in WhatsApp group reported

On May 16, 2024, The Washington Post reported that Ackman was involved in a WhatsApp group chat with Israeli military leaders and top US business leaders with the stated goal to "change the narrative" in favor of Israel by conveying "the atrocities committed by Hamas" and "help [Israel] win the war" on U.S. public opinion.

2024: Ackman Endorses Trump and Supports Israel

In 2024, Bill Ackman, a long-time donor to Democratic candidates and organizations, endorsed Donald Trump in the United States presidential election. He has also been an active supporter of Israel, especially following the October 7 attacks, and criticized the 2024 pro-Palestinian protests on university campuses.

May 18, 2025: Defense of Trump's defunding of science research

On May 18, 2025, Ackman defended President Trump's defunding of science research at Harvard on the grounds of antisemitism on campus during a panel at the Center for Jewish History.

June 14, 2025: Advocating for US to join Israel in war against Iran

On June 14, 2025, Ackman posted a tweet on Twitter advocating for the US to join Israel in its war against Iran.

2025: Wild card berth at Hall of Fame Open

In 2025, Ackman received a wild card berth at the Hall of Fame Open at the age of 59, where he lost in a doubles match with Jack Sock to Omar Jasika and Bernard Tomic, leading to criticism and a declined endowment offer.