Bill Ackman Proves Once Again, He’s a Hero
Not all billionaires could be like Bill Ackman. A year ago, Ackman was a hedge fund manager doing his duties by going on CNBC to tell viewers that the worst is about to come before shorting the market to make record profits. Just the typical tale of the trade for a titan of Wall Street. Thanks to profiting off others misfortunes in order to kick off what would be a legendary 2020 for Ackman, he’s making so much money he doesn’t need it. He’s giving it away!
When South Korean e-commerce company Coupang went public, Ackman was revealed as an early investor. He made an absurd $1.3 billion in a single day, so what did he do? He gave the money away by donating it to his own charity. For years, Ackman was mocked. Valeant! Herbalife! JC Penny! We laughed at his misfortunes and now instead of firing back, he’s giving back.
Don’t judge a book too quickly by its cover. Just because someone profits off a pandemic and the loss in savings by so many, doesn’t mean they won’t give to their own charity a year later. Bless you Bill Ackman.