When Bill Ackman graduated from Harvard Business School in 1992, he didn’t waste any time.
Ackman and fellow Harvard grad David P. Berkowitz founded the investment firm Gotham Partners, which made small investments in public companies.
“Everyone told me it was a really stupid idea to start my own hedge fund right out of business school,” Ackman said. “That’s how I knew that it was a good idea.”
In a few years, Gotham had $500 million in assets under management.
Ackman started Pershing Square Capital Management in 2004 with $54 million from his personal funds and former business partner. Today, the fund has $18.5 billion in assets under management.
“I’m an extremely, extremely persistent person,” Ackman once said. “Extremely. And when I believe I am right, and it is important, I will go to the end of the earth.”
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