In a surprising move, billionaire hedge fund manager Bill Ackman and his wife Neri Oxman have acquired a nearly 5% stake in the Tel Aviv Stock Exchange (TASE). This acquisition comes as the Israeli exchange announced a secondary offering of its shares, making Ackman and Oxman’s purchase worth approximately $25 million. The news highlights the couple’s confidence in the TASE and the Israeli economy at large.
Bill Ackman, the founder and CEO of Pershing Square Capital Management, has long been a vocal supporter of Israel. However, his investment in the TASE marks his first financial involvement in the country since the recent war began. The conflict, triggered by a Hamas terror attack, led to an Israeli ground invasion of the Gaza Strip.
Ackman’s advocacy for Israel brought him into conflict with his alma mater, Harvard University. Following the Hamas-led attack, over 30 student groups at the university blamed Israel entirely for the incident. In response, Ackman demanded that Harvard publicly disclose the names of these students to discourage Wall Street employers from hiring them. He went on to publish a lengthy letter outlining steps to combat rising antisemitism on campus and called for the resignation of the university’s president, Claudine Gay. Although Gay managed to hold onto her position after testifying in a congressional hearing, the controversy eventually led to her resignation in early January.
The purchase of a 4.9% equity stake in the TASE by Ackman and Oxman demonstrates their faith in the Israeli market. The transaction drew significant interest from investors across Israel, the United States, Europe, and Australia. The funds raised from the secondary offering will be allocated to further enhancing the exchange’s technology infrastructure.
Neri Oxman, Ackman’s wife, is an American-Israeli architectural designer and professor. Her expertise in architecture and design likely influenced their decision to invest in the TASE. Oxman’s involvement in the purchase reflects her faith in the growth potential of the Israeli economy.
Contrary to popular belief, Bill Ackman describes himself as pro-Palestinian but anti-terrorist. He clarified his position on social media site X, formerly known as Twitter, expressing support for the Palestinian people while condemning acts of terrorism. Ackman’s stance demonstrates his commitment to peace and emphasizes the need for dialogue and understanding between Israelis and Palestinians.
The acquisition by Bill Ackman and Neri Oxman of a significant stake in the Tel Aviv Stock Exchange showcases their confidence in the Israeli economy. Ackman’s advocacy for Israel and his recent investment demonstrate his commitment to supporting the nation. With the funds from the secondary offering, the TASE will be able to invest in its technology infrastructure, further solidifying its position as a prominent global exchange. The couple’s decision to invest in Israel amidst ongoing conflicts illustrates their optimism and belief in the country’s future.
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