Billionaires

Ackman Ties $9 Billion Fortune to Public Markets With IPO

Bill Ackman, chief executive officer of Pershing Square Capital Management LP, center, during the company's initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York on April 29.Photographer: Michael Nagle/Bloomberg

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By Dylan Sloan, Hema Parmar, and Tom Maloney

April 29, 2026 at 7:43 PM UTC

Updated on

April 30, 2026 at 2:22 PM UTC

It’s been a bumpy road, but Bill Ackman is one step closer to his ambition of emulating Warren Buffett.

The outspoken hedge fund manager raised $5 billion this week in the country’s largest-ever closed-end fund listing, giving him a more permanent base of capital that he says will let him pick winners early and allow them to prosper over time without worrying about investors yanking their money.