Bill Ackman has grown Pershing Square Capital Management to more than $16 billion from $54 million since he founded the fund nearly two decades ago. The 57-year-old activist investor speaks with NYP Business Reporter Lydia Moynihan about his return to office policy, his possible presidential picks and why he’s still bullish on New York City.
Lydia: You are among the big names on Wall Street who didn’t move to Florida. Why?
Bill: The short answer is that I love New York City. My desire to be successful is founded on a desire to be independent. It always seemed crazy to me to sacrifice that independence to save money on taxes. If you make $100 million — some people in finance make even more than that — you can save $25 million of that by living somewhere cheaper.
Some people choose to manage their lives that way. I do think it’s incumbent upon New York City to make this a desirable place to live and we have to make it an attractive place to do business. If one super wealthy person leaves the city — that’s really bad for the revenue. I don’t think it’s smart to push taxes higher — I think that would actually generate less revenue.
Read more at https://nypost.com/2023/09/21/hedge-fund-titan-bill-ackman-remains-bullish-on-nyc/
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