Bill Ackman will likely support Donald Trump for president

Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations,” in New York on November 28, 2023.

Jeenah Moon | Bloomberg | Getty Images

Hedge fund executive and billionaire Bill Ackman has signaled to associates that he will likely support Donald Trump for president over Joe Biden, according to a source familiar with the matter.

Ackman previously financed Robert F. Kennedy Jr.'s presidential campaign and Republican Nikki Haley's failed White House bid. Ackman has a net worth of just over $4 billion, according to Forbes.

Another source said Ackman has not yet made a final decision on whether to support Trump.

Sources for this story were granted anonymity to speak freely about private conversations.

A spokesperson for Ackman declined to comment. The Financial Times was the first to report Ackman's thinking.

If Ackman supports Trump, he will join a growing crowd of Wall Street executives who support Trump over Biden. Blackstone CEO Steve Schwarzman recently said in a statement that he would support Trump.

Schwarzman's announcement comes after the billionaire said in 2022 he would seek an alternative to supporting the former president in the Republican presidential primary.

Ackman has been publicly consistent about his dislike of Biden and his policies.

In an interview with CNBC in January, Ackman called on Biden, 81, to resign as president because of his age. Asked at the time if he would vote for Trump over Biden, Ackman replied, “I'll make that decision when I have a choice.”

Ackman's biggest gamble so far in this election cycle has not been realized.

He gave $1 million in January to a political action committee that supported Rep. Dean Phillips, D-Minn., in a Democratic primary against Biden, according to Federal Election Commission records.

Phillips dropped out of the race in March.

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