Bill Ackman Plans $10.5B IPO for Pershing Square by 2025
TL;DR Summary
Billionaire investor Bill Ackman is set to see his net worth more than double to at least $8.3 billion as his hedge fund Pershing Square raises $1.05 billion in a funding round valuing the firm at $10.5 billion. This increased valuation will also make Pershing's chief investment officer Ryan Israel a billionaire on paper. Pershing Square, which manages $16.3 billion in assets, is expected to go public by 2025.
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