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Sunday, July 14, 2024

Bill Ackman & Wife Acquire 5% Stake in Tel Aviv Stock Exchange

Renowned hedge fund billionaire Bill Ackman and his wife, Neri Oxman, have agreed to acquire an almost 5% stake in the Tel Aviv Stock Exchange, as disclosed in a press release from the exchange on Wednesday. The announcement coincided with the pricing details of a secondary offering comprising 17,156,677 shares, representing 18.5% of the market value, each priced at 20.60 shekels ($5.50) per share. Calculations by CNBC estimate Ackman and Oxman’s investment at around $25 million.

The exchange reported significant interest from investors globally, including those from Israel, the United States, Europe, and Australia. This enthusiasm is seen as a strong vote of confidence in both the Tel Aviv Stock Exchange and the broader Israeli economy, according to the statement.

Among the notable buyers are Neri Oxman and Bill Ackman, who have agreed to acquire approximately a 4.9% equity stake in the TASE. The exchange intends to utilize the net proceeds from the offering to invest in its technology infrastructure.

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This marks Ackman’s first investment in Israel since the commencement of the war. Ackman, the founder and CEO of Pershing Square Capital Management in New York, has been an outspoken supporter of Israel since the Hamas terror attack on October 7, prompting an Israeli ground invasion of the Gaza Strip. His wife, Oxman, is an American-Israeli architectural designer and professor.

Ackman’s involvement in Israel gained attention during a dispute with Harvard University, his alma mater, following a statement by over 30 student groups placing full blame for the Oct. 7 attack on Israel. This led to Ackman demanding the release of the students’ names on social media, aiming to dissuade Wall Street employers from hiring them. Ackman further addressed rising antisemitism at Harvard in a lengthy letter and later advocated for the resignation of the university’s president, Claudine Gay.

The hedge fund magnate describes himself as both pro-Palestinian and pro-Israeli, emphasizing his anti-terrorist stance. In a post on social media (formerly Twitter), he stated, “I am pro-Palestinian. Some might be surprised by this due to my recent advocacy on @X for Israel, but you shouldn’t be. I am anti-terrorist, not anti-Palestinian.” Ackman has a longstanding history of supporting Palestinian economic development and peaceful coexistence, dating back more than 30 years.

John Collins
John Collins
John is an esteemed journalist and author renowned for their incisive reporting and deep insights into global affairs. As a prominent contributor to City Telegraph, John brings over 5 years of experience covering diverse geopolitical landscapes, from the corridors of power in major capitals to the frontlines of conflict zones.

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