Reported 4 months ago
Hedge-fund manager Bill Ackman is selling a 10% stake in Pershing Square in a funding round valuing the investment firm at over $10 billion, gearing up for an IPO as early as late 2025. The sale will see Pershing Square Chief Investment Officer Ryan Israel owning 10% of the firm, translating to an approximate $1 billion valuation. Ackman, known for activism and social media presence, has a net worth of $2.8 billion and is set to climb higher following the stake sale. The IPO plans were reported by The Wall Street Journal and a representative for Pershing Square declined to comment.
Source: YAHOO