Billionaire investor Bill Ackman Expresses Interest in Deal with Social Media Platform X
In a recent interview with The Wall Street Journal, billionaire investor Bill Ackman revealed his willingness to collaborate with X, the social media platform formerly known as Twitter. Ackman’s enthusiasm for the partnership stems from the approval of his novel investment vehicle called a SPARC (Special Purpose Acquisition Rights Company) by the Securities and Exchange Commission (SEC) on Friday.
The SPARC model differs from traditional financing vehicles as investors will be informed of the company it will merge with before pledging their investments. Ackman’s eagerness to work with X was evident in his X post, where he extended an open invitation to any large private growth company seeking to go public without the expenses and risks associated with an initial public offering (IPO). Ackman encouraged interested companies to reach out to him and promised a quick decision.
Pershing Square Capital Management, Ackman’s investment firm, supported his remarks in a statement to CNBC. The spokesperson reiterated that the company had no further comments to make on the matter, directing interested parties to follow Ackman’s official X account for additional updates.
Ackman has actively voiced his opinions on the X platform, covering diverse topics such as his support for U.S. presidential candidates Vivek Ramaswamy and Robert Francis Kennedy Jr. He has also made headlines with his claim that he married the “female version of Elon Musk.” These regular posts on X indicate Ackman’s level of comfort with the platform and his willingness to embrace it for potential business ventures.
Despite Ackman’s enthusiasm, some experts cast doubt on the possibility of X pursuing a deal with the newly formed SPARC. Alan D. Jagolinzer, a professor of financial accounting at the University of Cambridge Judge Business School, highlighted that taking X public would expose the company to financial and governance regulatory transparency and accountability. Consequently, Jagolinzer expressed skepticism regarding X’s interest in the deal.
The full story can be found on The Wall Street Journal’s website.