$25 Billion to Zero: Bill Ackman’s Bungled IPO

Bill Ackman has pressed pause on the initial public offering of a new fund aimed at everyday investors after a lack of demand. Ackman originally aimed to raise around $25 billion in the offering, hoping to capitalize on his social-media celebrity but his fund goals shrunk dramatically. WSJ’s Peter Rudegeair unpacks what happened.  Further Reading: -Can Bill Ackman Turn Social-Media Stardom Into a Blockbuster IPO?  -What Bill Ackman Got Wrong With His Bungled IPO  Further Listening: -The Life of One of Wall Street’s Greatest Investors  Learn more about your ad choices. Visit megaphone.fm/adchoices