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Bill Ackman Donating $3.25 Million for Ambulances for Embattled Ukraine

Ukraine By-Dan-Kitwood

Bill Ackman, the CEO & Portfolio Manager of Pershing Square Capital Management, will donate $3.25 million through his Pershing Square Foundation for the purchase and maintenance of more than a dozen ambulances that have been specially reconfigured for use in a combat zone for use in Ukraine, reported Reuters. The news comes just days after the world marked the one year anniversary of Russia’s unprovoked invasion of that country, which Russia expected would last just a few weeks.

The money will be used to acquire 15 specially equipped Toyota 4×4 Land Cruiser ambulances that cost about $116,000 apiece. They are equipped with a high roof that allows medical personnel to stand up as they treat patients. The donated funds will also apply to cover the costs of operating the ambulances in the middle of a war zone.

Whitney Tilson, who serves on the advisory board of Pershing Square Foundation, is said to have sent an email to people in Ukraine confirming this saying, “I had breakfast with my college buddy Bill Ackman this morning, walked him through the attached slide deck I put together about my ambulances-for-Ukraine mission, and on the spot, he agreed to donate $3.25 million.”

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In other Bill Ackman news, Seeking Alpha reported that Pershing Square’s 13F portfolio’s value increased ~12% from ~$7.88B to ~$8.78B this quarter. The number of positions remained steady at 6 and the portfolio remains “heavily concentrated” with a few huge bets, said Seeking Alpha. The top three positions account for ~59% of the total portfolio value: Lowe’s Companies, Restaurant Brands, and Chipotle Mexican Grill.

According to his official bio, Bill Ackman is an SEC registered investment adviser founded in 2003. Pershing Square is a concentrated research-intensive fundamental value investor in long and occasionally short investments in the public markets. Prior to forming Pershing Square, Mr. Ackman co-founded Gotham Partners Management Co., LLC, an investment adviser that managed public and private equity hedge fund portfolios. Prior to Gotham Partners, Mr. Ackman began his career in real estate investment banking at Ackman Brothers & Singer, Inc. Mr. Ackman received an MBA from the Harvard Business School and a Bachelor of Arts magna cum laude from Harvard College.

Mr. Ackman is the Chairman of the board of The Howard Hughes Corporation (NYSE: HHC). He is a Trustee of the Pershing Square Foundation and a member of the Board of Dean’s Advisors of the Harvard Business School.

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