Friday, November 6, 2026

Billionaire investor William Ackman says US Commerce Secretary Howard Lutnick profits if economy crashes

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Billionaire hedge fund manager William Ackman has raised concerns over a possible conflict of interest involving US Commerce Secretary Howard Lutnick, citing his firm’s exposure to the bond market.In a post on X (formerly Twitter), Ackman said:

Lutnick became Commerce Secretary in early 2025.
Prior to his government appointment, he served as Chairman and CEO of Cantor Fitzgerald, a global financial services firm.

He has a vast financial portfolio spanning over 800 businesses and reported earnings exceeding $350 million over the past two years, according to Economic Times report.

William Ackman is the founder and CEO of Pershing Square Capital Management, a hedge fund with $15 billion in assets under management.

He founded the firm in 2004 and is known for high-profile investment moves, including shorting bond insurer MBIA and investing in General Growth Properties.

Ackman has a real-time net worth of $8.9 billion as of April 7, 2025, according to Forbes. His fund holds concentrated stakes in companies like Chipotle, Hilton, and Alphabet.

Over the past year, he has taken public positions on various political and corporate matters, including endorsing former President Donald Trump in the 2024 election.



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