William Albert Ackman

William Albert Ackman was born on May 11, 1966 in New York. He is the major investor,founder and the CEO of the hedge fund Pershing Square Capital Management LP. In December 2007 his funds owned a 10% stake in Target Corporation, which was then valued at $4.2 billion through the purchase of stock and derivatives. He currently owns a 7.8% stake.

Early life

William Albert Ackman grew up in Chappaqua, NY. He earned his Bachelor of Arts degree magna cum laude from Harvard College in 1988, and his MBA from Harvard Business School in 1992.

Career: Gotham Partners

In 1992, Ackman co-founded Gotham Partners together with another Harvard Graduate. By 1998, the firm was managing more than $500 million in assets. In 2003, the New York Attorney General investigated whether the firm had performed any illegal practices by publishing its own research reports on stocks in which it has taken either a long or short position. The litigation concluded that the firm had not done anything wrong. Gotham Partners primarily invested in non-publicly traded firms and real estate concerns.