I just figured out why @howardlutnick is indifferent to the stock market and the economy crashing. He and Cantor are long bonds. He profits when our economy implodes.
It’s a bad idea to pick a Secretary of Commerce whose firm is levered long fixed income. It’s an irreconcilable…— Bill Ackman (@BillAckman) April 7, 2025
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.
