Bill Ackman can profit from his controversial tweeting

Billionaire hedge fund manager Bill Ackman’s foray into America’s toxic culture wars has puzzled many. Would it be cynical to suggest his motives are now a little clearer, following the announcement that Ackman’s Pershing Square will be launching a new fund on the New York Stock Exchange?

Ackman says the fund “has the potential to be one of the largest, if not the largest” listed closed-end funds, with his “broad retail following” likely to drive “substantial investor interest”.

Indeed. Ackman has 1.2 million followers on X/Twitter, where he details his learned opinions on everything from vaccine safety to war in Ukraine. His high profile should generate much retail interest in his new fund, which will charge a hefty 2 per cent annual fee after the first year of trading.

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