This is a decision made by the Bill Ackman Foundation to reduce its participation in X between 2022 and 2023. Ackman, 58, is an avid user of X, where he has 1.5 million followers.
The foundation of Bill Ackman, that had a stake in the platform social networks X of Elon Muskreduced its stake by more than half at the end of last year, a new tax return shows, information that is only now becoming known.
The billionaire’s Pershing Square Foundation had a stake in X Holdings that was valued at $4.3 million at the end of 2023compared to US$10 million a year earlier, according to the organization’s annual public fiscal statement.
“The Foundation used a third-party valuation to analyze its participation in X”Ackman spokesman Francis McGill said in an emailed statement Monday. “Bill believes that X will be an excellent long-term investment and has already made an important contribution to society.”
Tax-exempt organizations such as the Pershing Square Foundation report holdings and grantmaking information on annual tax forms.
At the same time, it was known a Fidelity investment fund increased the value of its stake in X by more than 32% to $5.53 million in Octoberits largest monthly increase since the investment was made at the end of 2022.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
