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Bloomberg Talks

Pershing Square Capital Founder & CEO Bill Ackman Talks Howard Hughes

May 5, 2025
In a compelling discussion, Bill Ackman, the Founder & CEO of Pershing Square Capital and newly appointed executive chair of Howard Hughes, shares his vision for transforming Howard Hughes into a diversified holding entity. He discusses strategies inspired by Berkshire Hathaway, focusing on investment and cash flow management. The conversation also dives into the impact of tariffs on American businesses and the economic outlook, filled with optimism amid uncertainties, highlighting the importance of balanced trade and growth strategies.
16:07
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Episode guests

Bill Ackman

Podcast summary created with Snipd AI

Quick takeaways

  • Bill Ackman's vision for Howard Hughes involves transforming it into a diversified holding company with a focus on acquiring high-quality growth firms.
  • The planned insurance arm is designed to enhance Howard Hughes' investment flexibility and support its growth, drawing inspiration from Berkshire Hathaway's successful model.

Deep dives

Transformation into a Diversified Holding Company

Bill Ackman plans to transform Howard Hughes from a real estate development company into a diversified holding company, with an investment strategy that emphasizes acquiring high-quality growth companies. His $900 million investment, which includes contributions from himself and his team at Pershing Square, aims to leverage Howard Hughes' strong cash flow potential over many decades. Ackman compares this endeavor to Berkshire Hathaway but clarifies that Howard Hughes will adopt a different approach, starting with favorable long-term prospects rather than dealing with previously unattractive businesses. By controlling companies rather than taking minority stakes, Ackman believes this strategy will maximize value creation and flexibility in the investment landscape.

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