In a press release on Wednesday, it was announced that Bill Ackman, a wealthy hedge fund investor, and his spouse Neri Oxman will be acquiring a stake of approximately 5% in the Tel Aviv Stock Exchange.
The Israeli exchange revealed the pricing of a secondary offering, selling 17,156,677 shares which accounted for 18.5% of its total market value. Each share was priced at 20.60 shekels ($5.50). Based on calculations by CNBC, Bill Ackman and his wife acquired these shares for approximately $25 million.
According to the statement, the deal received significant attention from investors in Israel, the United States, Europe, and Australia, indicating a high level of trust in the Tel Aviv Stock Exchange and the overall Israeli economy.
Neri Oxman and Bill Ackman, notable investors, have committed to buying around 4.9% of the equity stake in the TASE. The exchange intends to utilize the funds raised from this offering to invest in enhancing its technology infrastructure.
Bill Ackman, the CEO and creator of Pershing Square Capital Management located in New York, has consistently expressed his support for Israel following the Hamas terror attack on October 7th. This attack led to an Israeli ground invasion of the Gaza Strip. Ackman’s wife, Oxman, is an architectural designer and professor who holds both American and Israeli citizenship.
According to Bloomberg, Bill Ackman, a Jewish investor, has made his first investment in Israel since the war started. This comes after a dispute with his alma mater, Harvard University, where several student groups blamed Israel entirely for the Hamas-led attack on October 7th, resulting in the death of 1,200 individuals and the hostage-taking of 240 others.
Bill Ackman utilized the social media platform X, previously known as Twitter, to urge Harvard University to disclose the identities of its students. His intention was to discourage Wall Street companies from hiring these individuals. Afterwards, Ackman shared a lengthy letter, spanning 3,138 words, on X. This letter was addressed to the former president of Harvard, Claudine Gay, and it outlined various measures to combat the increasing issue of antisemitism within the university.
Bill Ackman, a prominent figure, exerted pressure on Gay to step down from her position on the grounds of alleged plagiarism and inadequate efforts to combat antisemitism within the university. Despite her participation in a tense congressional hearing addressing campus hate speech and antisemitism, Gay ultimately chose to resign in early January due to the controversy.
Bill Ackman, a prominent hedge fund manager, expresses his support for both the Palestinian and Israeli causes. In a post on X in October, he clarifies that he considers himself pro-Palestinian and highlights that his recent advocacy for Israel on @X should not come as a surprise. Ackman explains that his stance is rooted in being anti-terrorism rather than being against the Palestinian people. He emphasizes that it is possible to hold pro-Israel and pro-Palestinian views simultaneously.
According to him, his support for the Palestinian cause started over three decades ago when he first encountered the Palestinian community and became aware of their struggles in the early 1990s. He mentioned that he has actively contributed millions of dollars towards initiatives aimed at advancing Palestinian economic growth and fostering peaceful coexistence.
