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Outspoken billionaire Bill Ackman reportedly raked in $610 million in 2023 to land in the top 10 on Bloomberg’s annual list of best-paid hedge fund founders, the outlet reported Tuesday.

The Pershing Square Capital Management CEO — who spearheading a social media campaign to get Harvard University president Claudine Gay ousted over her muted response to antisemitism on the Ivy League school’s campus and over her subsequent plagiarism charges — managed to finish seventh on Bloomberg’s list last year after failing to crack the top 15 the year before.

Ackman, who gained prominence as an activist investor, shifted to a “quieter approach” two years ago and barely touched his portfolio of just 10 stocks to record his massive haul, as calculated by Bloomberg after analyzing top hedge funds’ performance as well as Securities and Exchange Commission filings.


  Bill Ackman, the billionaire founder and CEO of Pershing Square Capital Management, made $610 million in 2023 from 10 stocks, including Alphabet and Chipotle. Patrick McMullan via Getty Images Bill Ackman, the billionaire founder and CEO of Pershing Square Capital Management, made $610 million in 2023 from 10 stocks, including Alphabet and Chipotle. Patrick McMullan via Getty Images
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With the stock market roaring last year, Pershing’s eight-person advisory investment team helped the firm earn 26.7% gain across its positions, which include Google parent Alphabet, Chipotle and Hilton Worldwide, Bloomberg reported.

Ackman’s returns topped those of Citadel’s main Wellington strategy and Millennium Management, which saw their portfolios advance 15.3% and nearly 10%, respectively, despite their founders bringing in a larger windfall than Ackman.

Pershing also holds positions in Toronto-based Burger King-owner Restaurant Brands International, Universal Music Group, real-estate development company Howard Hughes Holdings and railway firm Canadian Pacific.

Representatives for Ackman at Pershing Square declined to comment.

Millennium founder Israel “Izzy” Englander was the highest earner on Bloomberg’s hedge fund boss’ pay ranking, earning $2.8 billion, while Citadel’s Ken Griffin nabbed the No. 2 spot thanks to his $2.6 billion income.

David Tepper of Appaloosa was third at $2.3 billion and Mets owner Steve Cohen was fourth, with his Point72 Asset Management earning $1.6 billion.

The others on the list to exceed Ackman’s windfall were Jim Simons of Renaissance Technologies at $1.3 billion and Chris Hohn of TCI Fund Management, who earned $970 million.

The 15 managers on Bloomberg’s list — which also included David Siegel of Two Sigma and AQR Capital Management’s Cliff Asness — earned a combined $15 billion.

Roughly one-third of Ackman’s 2023 haul came from share-price gains in his publicly traded Pershing Square Holdings funds, according to Bloomberg.


  Citadel’s Ken Griffin nabbed the No. 2 spot on Bloomberg’s ranking of top-earning hedge fund managers in 2023 thanks to his $2.6 billion income, despite bringing in $1.5 billion less than he did in 2022. Getty Images Citadel’s Ken Griffin nabbed the No. 2 spot on Bloomberg’s ranking of top-earning hedge fund managers in 2023 thanks to his $2.6 billion income, despite bringing in $1.5 billion less than he did in 2022. Getty Images

The other two-thirds of the 57-year-old’s earnings came from performance gains at his private funds as well as fees charged to clients.

In one of his biggest moves in recent years, Ackman exited his six-year bet on Lowe’s earlier this month after the home improvement retailer earned more than $1 billion for Pershing Square’s investors, Ackman wrote in an investor update.

Earlier this month, Ackman announced the launch of a new investment portfolio, according to a regulatory filing which suggests the fund will mimic his existing hedge fund but offering lower fees and quicker access to capital.

Pershing Square USA will be listed on the New York Stock Exchange and be available to anyone who can invest in the US, including pension funds, endowments and retail investors who are normally excluded from hedge funds.

The new fund comes after Ackman vowed to set up a “think-and-do tank” that would scrutinize both antisemitism and DEI policies on college campuses.

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