Hedge fund manager Bill Ackman / Facebook
Bill Ackman, the billionaire activist investor who runs Pershing Square Capital, warned that the US economy is beginning to slow down. Ackman made the warning in an interview with CNBC’s Squawk Box. Meanwhile, Bill Ackman has also expressed interest in investing in Elon Musk’s Twitter, now called X, reported the Wall Street Journal.
“If your large private growth company wants to go public without the risks and expenses of a typical IPO, with Pershing Square as your anchor shareholder, please call me. We promise a quick yes or no,” tweeted Bill Ackman.
″[T]he Fed is probably done. I think the economy is starting to slow,” Ackman said on CNBC’s “Squawk Box.” “The level of real interest rates is high enough to slow things down.”
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Bill Ackman listed the factors that led him to make the claim including high mortgage rates and high credit card rates saying, “they’re starting to really have an impact on the economy. The economy is still solid, but it’s definitely weakening. Seeing lots of evidence of weakening in the economy.”
He also predicted that the 30-year Treasury Bill will likely go up adding, “I don’t know that the 10-year has to go meaningfully above 5% because you’re seeing some weakness in the economy. But on a long-term basis, we think structural inflation is going persistently higher in a world like that.”
Bill Ackman is an American billionaire hedge fund manager, investor, and philanthropist. He is the founder and chief executive officer of Pershing Square Capital Management, a hedge fund management company. His investment approach has made him an activist investor. As of June 2023, Ackman’s net worth was estimated at $3.5 billion by Forbes.
Ackman was born in New York City in 1966. He graduated from Harvard University with a degree in economics in 1988. After college, Ackman worked as an investment banker at Goldman Sachs. In 1998, he founded Pershing Square Capital Management.
Bill Ackman is known for his aggressive investment style and his willingness to take on corporate management. He has invested in a wide range of companies over the years, including Target, Canadian Pacific, and Valeant Pharmaceuticals. He has also been involved in several high-profile proxy battles, in which he has challenged the management of companies to make changes that he believes will benefit shareholders.
