Billionaire investor Bill Ackman calls Democratic Party radicalized and anti-American
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The gist
Pershing Square CEO Bill Ackman called the Democratic Party "crazy, radicalized and anti-American" on a podcast.
His firm's stock has also slid about 25% from its October peak.
Background
Bill Ackman is a billionaire investor and CEO of Pershing Square Capital Management, the investment firm he founded and runs, which went public in April 2026 as Pershing Square Inc. (PS). He has a long history of donating to prominent Democrats, including former President Barack Obama, but more recently gave to GOP-backed PACs and backed former Gov. Andrew Cuomo's failed bid against NYC Mayor Zohran Mamdani. His remarks come as PS shares have fallen from their post-IPO highs.
How it unfolded
- Apr 29, 2026Pershing Square Inc. (PS) opened at $24 per share in a combined IPO with the firm's Pershing Square USA fund.
- Oct 7, 2026PS stock hit a high of $60 per share, a 150% gain at its peak.
- Oct 17, 2026PS shares fell about 25% from the Oct. 7 peak to $45 after two Wall Street downgrades citing high valuation.
- Oct 18, 2026Ackman posted a list on X headed "How to destroy a country," after stating that "incentives drive all human behavior."
- Oct 20, 2026On "The Katie Miller Podcast," Ackman called the Democratic Party "crazy, radicalized and anti-American" and said it is in the worst place in its 250-year history.
- Oct 21, 2026Ackman said Netflix told him "We're never going to do it" on ads, then announced an ad model "literally 3 weeks" later, costing him $400 million.
Who’s saying what
- Ackman
- Ackman said the Democratic Party is "in the worst place it's ever been" in the country's 250-year history and has become "this crazy, radicalized, you know, anti-American thing."
- Ackman
- He said Sen. Chuck Schumer is "a good man" he had a good relationship with, but that "in recent years, I felt he's just trying to keep his job."
- Ackman
- On NYC Mayor Zohran Mamdani, Ackman said he is "not a fan" and that the mayor's decisions are "very bad for New York."
- Analysts
- Two Wall Street downgrades cited high valuation in cutting Pershing Square stock, with Citi setting a $45 price target versus the $60 peak.