Billionaire Investor Says He’s Newly Focused On “Need To Make Money”
Image by getty images
By Josh Nathan-Kazis June 9, 2017
Billionaire hedge fund magnate Bill Ackman told Bloomberg this week that he used to take making money for granted.
“I need to make money,” the CEO of Pershing Square Capital Management told the news organization. “Now I’m very focused.”
The comments, made at a dinner benefitting the Pershing Square Foundation, which Ackman also founded, come months after Ackman threw in the towel on an ill-fated investment in the firm Valeant Pharmaceuticals, losing over $3 billion. Pershing itself has taken a thorough beating over the past two years.
“The biggest investment failure of my career happened in the last 18 months or so,” Ackman said at the gala, according to Bloomberg. “I blame part of that on not managing my time effectively.”
Pershing Square Foundation has supported a number of Jewish causes, including the Center for Jewish History and Rabbi Adin Steinsaltz’s Aleph Society.
Contact Josh Nathan-Kazis at [email protected] or on Twitter, @joshnathankazis.
This is a moment of great uncertainty. Here’s what you can do about it.
We hope you appreciated this article. Before you go, we’d like to ask you to please support the Forward’s independent Jewish news. All donations are still being matched by the Forward Board - up to $100,000 until April 24.
This is a moment of great uncertainty for the news media, for the Jewish people, and for our sacred democracy. It is a time of confusion and declining trust in public institutions. An era in which we need humans to report facts, conduct investigations that hold power to account, tell stories that matter and share honest discourse on all that divides us.
With no paywall or subscriptions, the Forward is entirely supported by readers like you. Every dollar you give is invested in the future of the Forward — and telling the American Jewish story fully and fairly.
The Forward doesn’t rely on funding from institutions like governments or your local Jewish federation. There are thousands of readers like you who give us $18 or $36 or $100 each month or year.
Support our mission to tell the Jewish story fully and fairly.
