This character is a loudmouth and seems to lose his investors' money on a regular basis. I am sure the structure of all his deals makes sure he gets paid very well regardless of his reckless behavior with the investment funds. His short against Herbalife lost his investors a lot of money, facing off against Carl Icahn, a long-time nemesis.
Also, he burns his investors if he decides to change his opinion, like his testimony in front of Congress about a Canadian pharma called Valeant: Ackman opened his testimony saying, "As a shareholder of Valeant, I recognize my investment was an... endorsement of Valeant's strategy." Ackman sold his remaining 27.2 million share position in Valeant to the investment bank Jefferies for about $300 million in March 2017. It has been estimated that the total cost of the position, including direct stock purchases and 9.1 million shares that were underlying stock options traded with Nomura Global Financial Products, was $4.6 billion, leading to a substantial loss.
He traded in his Ashkenazi starter wife of 24 years, for a younger Israeli one two years ago. I wonder if his three daughters from the first marriage are thrilled about the Sabra stepmom and really care about supposed PornHub sex-trafficking like their old man.
Edited by Kingfish (06/17/21 01:32 PM)
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"I'm a minor character in my own story", Steve Coogan as Tony Wilson in 24 Hour Party People