Bill Ackman is a philanthropist, hedge fund manager, and investor. His full name is William Albert Ackman. He was born in Chappaqua, New York, the USA on the 11th of May, 1966. He is the founder and CEO of the hedge fund management company known as Pershing Square Capital Management. He studied at Harvard University. Bill Ackman is today recognized as one of the leading hedge-fund activists in the world. On the 10th of July, 1994, he married a landscape architect. If you are interested to know more about the early life, biography, awards, nominations, career and net worth of Bill Ackman in 2018, keep reading below.
Early Life & Biography
Bill Ackman is the son of Lawrence David Ackman and Ronnie I. He was brought up in Chappaqua, New York. He received his bachelor’s degree in arts from Harvard College, in 1988. Later on, he got his MBA from the Harvard Business School, in 1992.
Bill Ackman loves playing tennis and has been doing so since his childhood. In 2006, he had a fishing license from Alaska. He donates to various cultural causes, religious causes, social causes, health-related causes, youth development, educational causes, and community development. His lifetime donation to multiple reasons is almost $100 million. In April 2015, Bill Ackman bought an apartment for over $90 million, in a 75-story New York skyscraper. He paid $17 million for a penthouse in New York, in May 2015.
Career, Awards & Nomination
Bill Ackman started his career at Ackman Brothers & Singer, now known as Ackman-Ziff Real Estate Group. This is a real estate firm that belongs to his father. The firm specializes in joint venture equity, mezzanine financing, sponsor equity, debt financing, and preferred equity. After getting his MBA in 1992, Bill Ackman founded Gotham Partners, an investment firm, along with a fellow Harvard graduate, David Berkowitz.
Gotham Partners was responsible for making small investments in public companies. Bill Ackman then partnered with Leucadia National, a real estate and insurance firm, in 1995, to bid for the Rockefeller Center. The bid was not won by them, but as it was a bid of a very high profile, it resulted in investors rushing to Gotham Partners, and by 1998, the firm had assets worth $500 million.
With private funding and from Leucadia National, Bill Ackman’s former business partners, to the tune of $54 million, he launched Pershing Square Capital Management in the year 2004. In 2005, Pershing Square Capital Management bought a large share of Wendy’s International, the fast-food chain. Pershing Square Capital Management then put pressure on Wendy’s International to sell their Tim Horton’s doughnut chain.
In the year 2006, Wendy’s International came out with an IPO for Tim Horton and managed to raise a whopping $670 million for their investors. Bill Ackman then sold his Wendy’s International shares for a considerable profit. Due to their stake in Nike, Pershing Square Capital Management made a profit of $100 million.
Net Worth & Earnings
The entire fortune of Bill Ackman has been the result of his several businesses. However, being a hedge fund manager has undoubtedly benefitted him the most. Ackman has outshone innumerable people in the industry and has made a mark which is still a dream for many. Hence, the present net worth of Bill Ackman has been estimated to be $1.2 billion.
Now, Bill Ackman has in his sights a significant, new investment, but there is a lot of secrecy surrounding it at the moment. Bill had been married to Karen Herskovitz since 1994. However, the couple had recently got divorced in 2017. The duo has been blessed with three beautiful children.