Bill Ackman and his wife, Neri Oxman, have made headlines with their recent investment in the Israeli stock market, despite the ongoing conflict with Hamas. The prominent hedge fund manager and his wife have acquired a 5% stake in the Tel Aviv Stock Exchange Ltd for approximately $17 million.
This investment marks Ackman’s first major venture in Israel since the conflict with Hamas began. Despite the tensions and violence in the region, Ackman has been vocal about the rise in antisemitism following the Hamas attacks in October and the subsequent Israeli military offensive in Gaza.
The Tel Aviv Stock Exchange confirmed the sale of an 18.5% stake to a group of local and foreign investors, with Ackman and Oxman being the only ones publicly named. The deal was arranged by Jefferies Financial Group Inc.
The investment comes at a time when Oxman has faced controversies of her own. Earlier this year, allegations of plagiarism were made against her, with Ackman refuting the claims and stating that MIT did not enforce citation of Wikipedia until after Oxman completed her thesis. Shortly after, Ackman softened his stance on academic plagiarism, acknowledging that it can be difficult for authors to avoid missing citations or appropriately attributing other authors in their works. This controversy led to Ackman announcing a review of the work of all current MIT faculty, including its president and board.
Despite these controversies, Ackman’s hedge fund, Pershing Square Capital Management, had a successful year in 2023, delivering an impressive return of 26.7% and outperforming the S&P 500. This resurgence has reinstated the hedge fund’s reputation for delivering double-digit profits to its investors.
The investment in the Tel Aviv Stock Exchange by Ackman and Oxman demonstrates their confidence in the Israeli market amidst the ongoing conflict. It also highlights their commitment to supporting Israel and its economy, despite the challenges it faces. As the situation in the region continues to evolve, it will be interesting to see how this investment unfolds and whether it proves to be a profitable venture for Ackman and his wife.
Disclaimer: This article was written using the Benzinga Neuro content generation system, which utilizes the Benzinga Ecosystem to create comprehensive and timely stories. The system is engineered by Benzinga Neuro and edited by Kaustubh Bagalkote.
