Bill Ackman TASE Investment, A Vote of Confidence in the Israeli Economy
Ackman, and his wife Neri Oxman, acquired a 4.9% ownership in the Tel Aviv Stock Exchange earlier this year in January, investing $100 million.
This morning, hedge fund billionaire Bill Ackman, remarked with a post on X platform that the Tel Aviv Stock Exchange (TASE) is currently "accessible at a discounted rate due to the ongoing war and related uncertainties." Ackman, and his wife Neri Oxman, acquired a 4.9% ownership in the Tel Aviv Stock Exchange earlier this year in January, investing $100 million.
The couple obtained their shares in the stock exchange through a secondary offering of shares facilitated by Israeli institutions and the TASE itself, securing a total of 18.5% ownership in the exchange. To the best of public knowledge, this marked Ackman's inaugural investment in an Israeli company.
"I was very impressed with management, their business plan and their technological capabilities. The company was effectively a mutually owned entity held by the big Israeli banks. It now is a public company with entrepreneurial management. We wanted to buy more but that’s all they had available for sale. Worth a close look. We view TASE as a permanent holding"
I am grateful to @HandlerRich for bringing Neri and me the opportunity to invest in the @TASE_en, the Tel Aviv Stock Exchange.
— Bill Ackman (@BillAckman) March 26, 2024
The best businesses in the world are capital-light franchises which own the right to collect royalties on a compounding base of assets. TASE is a… https://t.co/8inb0yCjJd
Ackman post on X
Bill Ackman is a prominent figure in the world of finance, renowned as a hedge fund manager and investor. Born on May 11, 1966, in New York City, Ackman founded Pershing Square Capital Management, one of the most successful hedge funds globally. He is recognized for his bold investment strategies and active shareholder activism. Ackman gained widespread attention for his high-profile bets on companies like Herbalife and Target, as well as his role in the restructuring of companies such as Canadian Pacific Railway. He is known for his outspoken views on markets and corporate governance, often sharing his insights through various platforms. Ackman's investment style is characterized by thorough research and conviction in his positions, making him a significant figure in the financial world.
Since the onset of the conflict in Israel, Bill Ackman has notably redirected his focus to combatting anti-Semitism, advocating for Israel, and spearheading efforts against anti-Semitism prevalent on Ivy League university campuses in the United States. Leveraging his platform, Ackman, a Harvard graduate himself, played a significant and vocal role in advocating for change, particularly in the removal of Claudine Gay from the university presidency. His actions underscore a commitment to addressing and combating discrimination, particularly within academic institutions, while also highlighting his strong support for Israel amidst ongoing geopolitical tensions.
