Prefer Jewish News on Google
Hedge fund manager makes £2.2bn from £22m bet on virus impact
Bill Ackman warned that “hell is coming” to the markets before recouping 100 times his outlay which, if confirmed, makes it one of history’s most profitable trades.
A Jewish hedge fund manager in the US has said he made £2.2 billion from a £22 million bet on the effects of the coronavirus.
Bill Ackman, who warned that “hell is coming” to the markets, said he recouped 100 times his outlay which, if confirmed, makes it one of history’s most profitable trades.
Ackman, whose personal wealth was put at more than $1 billion in 2018, heads Pershing Square Capital Management, and made the money hedging Pershing’s portfolio – essentially buying credit protection against steep market losses.
An activist investor and major Democratic Party donor, Ackman has called on Donald Trump to order “a 30-day shut-down” in the United States to stop the spread of the virus and minimise the loss of life.
Ackman is a philanthropist who gives to Jewish causes, including five Jewish history, scholarship and arts organisations in New York.
Keep community journalism free.
Jewish News is free for everyone. No paywall. No barriers. Just trusted journalism for anyone who wants to stay connected to Jewish life in Britain.
If you value that, please support us.
From as little as £5 a month, you can help keep our journalism free and accessible to all.
Every day, we report on the issues that matter to our community. We celebrate achievements, support charities, challenge antisemitism and ensure Jewish voices are heard more widely.
From as little as £5 a month, you can help us continue to:
- Report on the stories shaping Jewish life in the UK and beyond
- Bring our community together through shared stories, events and campaigns
- Celebrate the people, culture and moments that define our community
- Support organisations doing vital work across Jewish Britain
You can make a one-off donation or become a regular supporter. Every contribution helps keep our journalism free, independent and accessible to all.
If everyone who values Jewish News gave a small amount, it would make a real difference to our future.
