Bill Ackman, an investor, is seeing a significant increase in the value of his stake in hedge fund Pershing Square, leading to a substantial boost in his net worth on paper. Pershing Square, founded by Ackman twenty years ago, is undergoing a funding round that will raise $1.05 billion, valuing the firm at approximately $10.5 billion. A group of undisclosed buyers is set to acquire a 10% stake in the firm.
The Wall Street Journal reported that Pershing Square, with around $16.3 billion in assets under management, is planning to go public in 2025, as confirmed by a source familiar with the matter to Fortune. This development will result in a significant increase in Ackman’s net worth, as he is believed to own nearly half of Pershing Square. Forbes values his net worth at $4.3 billion, but the current funding round is expected to increase it by over $4 billion, potentially raising it to at least $8.3 billion.
The boost in valuation will also make Pershing’s chief investment officer, Ryan Israel, a newly minted billionaire on paper, according to reports. This increase in wealth would elevate Ackman in the ranks of the world’s richest individuals, surpassing executives like Jack Dorsey, Michael Saylor, and Travis Kalanick, according to Forbes estimates. Currently, Ackman ranks as the 738th richest person globally.
Ackman is among the highest-paid hedge fund managers, earning $610 million last year despite minimal changes to the portfolio managed by Pershing. After gaining recognition as an activist investor in the early 2000s, Ackman shifted focus to investing in larger companies like Chipotle and Alphabet.
In recent times, Ackman has made headlines for his social media presence and outspoken views on various issues. He has addressed topics like antisemitism on college campuses and has expressed opinions on matters such as diversity, equity, and inclusion. Additionally, he has been vocal about political events, including the recent legal proceedings involving former President Donald Trump.
