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Update January 5, 2016- Ackman’s Pershing Square hedge fund lost 20.5% in 2015. This is why he had to give up on his Seaport tower plans of his Howard Hughes Corp.
September 8, 2015- Forbes reports, “Billionaire Bill Ackman’s hedge fund got slammed in August when the stock market fell, tumbling by about 9%, according to the web site of his publicly-traded vehicle, Pershing Square Holdings.
Ackman’s August losses wiped out his hedge fund’s gains for 2015, leaving it down by 0.1% for the year. Pershing Square Holdings had previously reported gains of about 10% for the year ending July 31.”.
Bill Ackman is the controlling owner of Howard Hughes Corp which is trying to develop the Seaport.
Bombshell: Bill Ackman’s Howard Hughes gives up on the tall tower at Pier-17
Howard Hughes Corp. Chairman Bill Ackman under investigation by the FBI