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.
Hello, fellow Forward reader! I’m Joel Brown, a Forward reader and supporter for more than 15 years, and currently the chair of the board of directors.
I’m an avid Forward reader because it ticks so many of my essential boxes: excellent journalism, Jewish focus and diverse viewpoints. In today’s political climate, what I most appreciate is the Forward’s independence — made possible by the generosity of its membership.
The Forward is committed to bringing you unbiased, nuanced Jewish news. From my position as board chair, I see an exciting future as we expand our position as the definitive independent voice of contemporary American Judaism.
That’s why I’m paying it Forward, by matching $36,000 of reader gifts. It’s an investment in the Forward’s newsroom, to continue telling the American Jewish story with truth and independence.
— Joel Brown, Forward board chair
Support our mission to tell the Jewish story fully and fairly.
