History of Bill Ackman in Timeline

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

May 11, 1966: Bill Ackman's Birth

On May 11, 1966, William Albert Ackman was born. He would later become an American billionaire hedge fund manager and the founder and CEO of Pershing Square Capital Management.

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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.

July 10, 1994: Marriage to Karen Ann Herskovitz

On July 10, 1994, Bill Ackman married Karen Ann Herskovitz, a landscape architect.

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: Litigation with Shareholders

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

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.

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.

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.

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.

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.

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.

2014: Pershing Square's Net Gains

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

January 2015: Ackman Named Top Hedge Fund Manager

In January 2015, LCH Investments recognized Ackman as one of the world's top 20 hedge fund managers, following Pershing Square's significant gains in 2014.

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.

2015: Period of Weak Performance

Ackman faced a period of weak performance from 2015.

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.

December 22, 2016: Separation from Karen Ann Herskovitz

On December 22, 2016, it was reported that Bill Ackman and Karen Ann Herskovitz had separated.

2016: Voted for Trump in the 2016 election

In 2016, Bill Ackman voted for Donald Trump in the presidential election, despite being a longtime donor to Democratic candidates and organizations.

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.

2017: Ownership of a Gulfstream G550

As of 2017, Bill Ackman owned a Gulfstream G550 business jet.

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.

2018: Engagement to Neri Oxman

In 2018, Bill Ackman became engaged to Israeli-American designer Neri Oxman.

January 2019: Marriage to Neri Oxman

In January 2019, Neri Oxman and Bill Ackman married at the Central Synagogue in Manhattan.

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.

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.

November 2020: Influence of Contagion Film

In a November 2020 interview, Ackman mentioned that he had grown concerned about COVID-19 due to watching the film Contagion, influencing his perspective on the pandemic.

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2020: Comments on tennis skills

In 2020, Bill Ackman controversially commented during a Bloomberg News interview that he could play a close doubles match against John McEnroe.

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 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.

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.

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.

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.

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.

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.

January 15, 2024: Phillips floated Cabinet post for Ackman

On January 15, 2024, Dean Phillips floated a possible Cabinet post for Bill Ackman in a forum with him and Elon Musk.

April 2024: Openness to vote for Trump

In April 2024, Bill Ackman announced via X that he would not support Joe Biden in the upcoming election due to Biden's alleged "lack of support" for Israel and that he was open to voting for former President Trump.

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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July 14, 2024: Endorsement of Trump after assassination attempt

On July 14, 2024, Bill Ackman endorsed Donald Trump in the aftermath of his attempted assassination.

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.

2024: Co-trustees of Pershing Square Foundation

As of 2024, Ackman and his wife, Neri Oxman, are the co-trustees of the Pershing Square Foundation, continuing their philanthropic work.

2024: Stepped Down from Howard Hughes Holdings Board

In 2024, Ackman stepped down from the board of Howard Hughes Holdings, where he served as chairman since 2010.

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.