Renowned hedge fund billionaire Bill Ackman, founder and CEO of New York-based Pershing Square Capital Management, and his wife, American-Israeli architectural designer Neri Oxman, are set to acquire a nearly 5% stake in the Tel Aviv Stock Exchange (TASE), according to a press release from the bourse on January 24, 2024.
The move follows the Israeli exchange's announcement of a secondary offering of 17,156,677 shares, equivalent to 18.5% of its market value, priced at $5.50 per share. Their purchase, totaling around $25 million, is a strong indicator of confidence in both the Tel Aviv Stock Exchange and the Israeli economy, drawing robust interest from investors across Israel, the United States, Europe, and Australia.
The funds raised from the offering will be directed towards investments in the technology infrastructure of the Tel Aviv Stock Exchange. This marks Ackman's first investment in Israel since the conflict erupted in October 2023. He is a vocal supporter of Israel, particularly in the aftermath of the Hamas terror attack, and has been actively engaged in various advocacy efforts.
While describing himself as both pro-Palestinian and pro-Israeli, Ackman emphasized his stance against terrorism. In a post on X (formerly Twitter), he clarified, "I am pro-Palestinian. Some might be surprised by this due to my recent advocacy for Israel, but you shouldn't be. I am anti-terrorist, not anti-Palestinian."
Ackman’s investment in the Tel Aviv Stock Exchange further underscores his commitment to supporting the Israeli economy, reflecting a broader perspective that spans over three decades, including significant investments in Palestinian economic development and peaceful coexistence.
