Bill Ackman’s net worth passes Carl Icahn, Donald Trump

Bill Ackman is swimming in cash, as his net worth jumps ahead of the Pershing Square Initial Public Offering (IPO).

Data shows that Bill Ackman’s wealth has surged to $8 billion after he sold a 10% stake in the company to a group of investors. He did that as he prepared to list the Pershing Square USA Fund in the United States at a valuation of over $10 billion.

Ackman’s wealth is now bigger than that of Carl Icahn, the founder of Icahn Enterprises, a long-time nemesis. According to Forbes, Icahn has a net worth of over $7 billion as the shares of Icahn Enterprises plunged by almost 60% from its highest point in 2023.

Ackman is now richer than Donald Trump whose net worth has soared to over $7.5 billion following the listing of Trump Media & Technology (DJT). He is also wealthier than other Jon Gray of Blackstone, Don Hankey of Hankey Group, and Thomas Pritzker.

Bill Ackman’s journey to success has had some major ups and downs. One of his biggest successes was his short campaign against MBIA, which was a leading insurance company. His campaign was successful as the stock plunged.

Most recently, his hedge fund has performed well, helped by the strong success of the likes of Chipotle Mexican Grill (NYSE: CMG) and Hilton. It returned 26% in 2023, beating the S&P 500 index and other leading hedge funds like Millenium and Citadel.

Chipotle vs Hilton vs Google

Before that, the hedge fund lost 8.8% in 2022 as the S&P 500 index dropped by double digits. It returned almost 14% in 2021.

Bill Ackman has had spectacular failures in the past. His biggest one happened in 2016 as the Valeant Pharmaceuticals stock plunged, costing him over $4 billion. He also lost over $1 billion as Carl Icahn engineered a short squeeze in Herbalife.

Ackman’s Pershing Square has now become one of the most richly-valued companies in the financial services industry. Its valuation is slightly less than Ray Dalio’s Bridgewater Associates, which is valued at almost $14 billion.

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