History of Bill Ackman in Timeline
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.
May 11, 1966: William Ackman's Birth
On May 11, 1966, William Albert Ackman, the American billionaire hedge fund manager who is the founder and chief executive officer of Pershing Square Capital Management, was born.
1988: Ackman Receives Bachelor of Arts Degree from Harvard
In 1988, Bill Ackman received a Bachelor of Arts degree magna cum laude in social studies from Harvard College. His thesis was titled "Scaling the Ivy Wall: The Jewish and Asian American Experience in Harvard Admissions".
1992: Ackman Co-Founds Gotham Partners
In 1992, Bill Ackman co-founded the investment firm Gotham Partners with David P. Berkowitz, focusing on small investments in public companies.
1992: Ackman Receives MBA from Harvard Business School
In 1992, Bill Ackman received a Master of Business Administration degree from Harvard Business School.
July 10, 1994: Marriage to Karen Ann Herskovitz
On July 10, 1994, Bill Ackman married Karen Ann Herskovitz, a landscape architect.
1995: Gotham Partners Bids for Rockefeller Center
In 1995, Ackman's Gotham Partners partnered with Leucadia National to bid for Rockefeller Center, generating investor interest.
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.
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.
2004: Ackman Starts Pershing Square Capital Management
In 2004, Bill Ackman started Pershing Square Capital Management with $54 million from his personal funds and Leucadia National.
2004: Pershing Square's Launch
In 2004, Pershing Square Capital Management was launched.
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.
2006: Pershing Square Foundation Founded
In 2006, Bill Ackman and his then-wife Karen founded the Pershing Square Foundation to fund innovative organizations.
2007: Ackman Profits from MBIA Credit Default Swaps During the Financial Crisis
During the financial crisis of 2007–2008, Bill Ackman bought credit default swaps against MBIA corporate debt and sold them for a large profit.
2007: Shorting MBIA's bonds
In 2007, Bill Ackman began shorting MBIA's bonds during the financial crisis.
2008: Ackman Profits from MBIA Credit Default Swaps During the Financial Crisis
During the financial crisis of 2007–2008, Bill Ackman bought credit default swaps against MBIA corporate debt and sold them for a large profit.
2008: Shorting MBIA's bonds
In 2008, Bill Ackman continued shorting MBIA's bonds during the financial crisis.
January 16, 2009: Ackman Covers Short Position on MBIA
On January 16, 2009, Bill Ackman reported covering his short position on MBIA.
2010: Ackman Becomes Chairman of Howard Hughes Holdings
In 2010, Bill Ackman became chairman of Howard Hughes Holdings, one of Pershing's longest-held investments.
2010: Pershing Buys J.C. Penney Shares
In 2010, Pershing Square started buying J. C. Penney shares, acquiring 18% of the company's stock.
2011: Philanthropy 50
In 2011, Bill and Karen Ackman were on The Chronicle of Philanthropy's "Philanthropy 50" list of the most generous donors.
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.
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.
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: Pershing Square Delivers $4.5 Billion in Net Gains
In 2014, Pershing Square delivered $4.5 billion in net gains for investors.
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.
January 2015: Ackman Named Top Hedge Fund Manager
In January 2015, LCH Investments named Bill Ackman one of the world's top 20 hedge fund managers after Pershing Square delivered $4.5 billion in net gains for investors in 2014.
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.
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: Endorsement and Vote
In 2016, Bill Ackman endorsed Michael Bloomberg as a prospective candidate for President of the United States and voted for Trump.
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.
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.
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.
2017: Ownership of Gulfstream G550
As of 2017, Bill Ackman owned a Gulfstream G550 business jet.
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: Engagement to Neri Oxman
In 2018, Bill Ackman became engaged to Israeli-American designer Neri Oxman.
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.
January 2019: Marriage to Neri Oxman
In January 2019, Bill Ackman married Neri Oxman at the Central Synagogue in Manhattan.
2019: Pershing Square returns 58.1%
In 2019, Pershing Square returned 58.1%, qualifying it as one of the world's best performing hedge funds.
March 3, 2020: Pershing Square Discloses Market Hedge
On March 3, 2020, Pershing Square first disclosed its portfolio hedge. Bill Ackman hedged Pershing Square's portfolio ahead of the 2020 stock market crash, investing $27 million to purchase credit protection against market losses, generating $2.6 billion in less than a month.
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.
November 2020: Ackman's Concern About COVID-19 Inspired by 'Contagion'
In a November 2020 interview, Bill Ackman said that he had grown concerned about COVID-19 because he had seen the film Contagion.
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 15, 2021: Donation of Coupang shares
On March 15, 2021, Bill Ackman donated 26.5 million shares in South Korean e-commerce company Coupang, valued at $1.36 billion, to three entities, one of them his own foundation.
2021: Philanthropy 50
In 2021, Bill Ackman and Neri Oxman were on The Chronicle of Philanthropy's "Philanthropy 50" list of the most generous donors.
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.
December 2022: Charity auction for lunch with Ackman
In December 2022, Bill Ackman auctioned a lunch with himself for charity in partnership with the David Lynch Foundation to benefit New York's frontline healthcare workers, police, and veterans.
February 2023: Funding for Sabatini's research laboratory
In February 2023, Bill Ackman announced that his foundation and an anonymous donor would together fund David M. Sabatini US$25 million over five years to establish and run a new research laboratory.
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.
January 15, 2024: Phillips floats possible Cabinet post for Ackman and Musk
On January 15, 2024, Dean Phillips floated a possible Cabinet post for Bill Ackman and Elon Musk in a forum with them.
April 2024: Ackman's statement on Biden and openness to voting for Trump
In April 2024, Bill Ackman announced via X that he would not support Joe Biden in the upcoming election 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 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.
June 2024: Ackman's Net Worth Estimated at $9.3 Billion
In June 2024, Forbes estimated Bill Ackman's net worth to be $9.3 billion.
July 14, 2024: Endorsement of Trump
On July 14, 2024, Bill Ackman endorsed Trump in the aftermath of his attempted assassination.
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."
2024: Co-trustees of the Foundation
As of 2024, Bill Ackman and his wife, Neri Oxman, are the co-trustees of the Pershing Square Foundation.
2024: Ackman Steps Down from Howard Hughes Holdings Board
In 2024, Bill Ackman stepped down from the board of Howard Hughes Holdings, where he had served as chairman since 2010.
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.
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