Coupang Investor Ackman Donates Shares to Charity
The hedge-fund manager Bill Ackman is donating shares of Coupang, the Amazon of South Korea,â to various charities days after its stock exchange debut.
Author:
Mar 15, 2021 2:50 PM EDT
The hedge fund investor Bill Ackman has donated his stake in the South Korea e-commerce company Coupang (
The founder of Pershing Square Capital Management tweeted on Monday that he will split his 26.5 million shares, valued at $1.36 billion, among three entities.
These include his Pershing Square Foundation, a donor-advised funds program, and another non-profit that wasn t identified.
Noting that he was a “day one investor” in Coupang, Ackman said the donated shares will now “benefit humanity.”
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Billionaire investors Bill Ackman and Stanley Druckenmiller invested in Coupang years before its $4.6 billion IPO this week tmohamed@businessinsider.com (Theron Mohamed)
Bill Ackman and Stanley Druckenmiller were early investors in South Korea s Coupang.
Ackman introduced founder Bom Kim to another of his key investors, David Frankel.
Rose Park Advisors, founded by author Clayton Christensen, is another shareholder.
Billionaire investors Bill Ackman and Stanley Druckenmiller were early backers of Coupang, the South Korean e-commerce group which raised $4.6 billion on Thursday in the biggest US IPO of the year so far.
David Frankel, the cofounder of Founder Collective, tweeted a slide from one of Coupang s investor presentations that listed his firm and Ackman as key investors. It also named Rose Park Advisors, the investment firm set up by Clayton Christensen - the late Harvard Business School professor and author of The Innovator s Dilemma.