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Alternative Market Briefing

Hedge fund manager Bill Ackman tops 24/7 Wall St.'s 50 Least Powerful People in the World

Wednesday, August 31, 2016

Komfie Manalo, Opalesque Asia:

Beleaguered hedge fund manager Bill Ackman has topped the list of 24/7 Wall St.’s 50 Least Powerful People in the World. 24/7 Wall St., a Delaware corporation which runs a financial news service, said that list is a compilation of 50 well-known individuals from around the world who have recently experienced a dramatic loss in stature.

"These individuals, be they influential political figures, powerful executives, or successful athletes, have each fallen a great distance from their peak — some by their own doing and some as a result of circumstance. Of these individuals, we attempted to select those who fell the furthest from the greatest height," 24/7 Wall St., said in a statement.

Ackman, the activist investor and founder and CEO of Pershing Square Capital Management, emerged as one of the biggest losers amongst a group of elite investors and is believed to have lost at least $500m since the British voted to exit the EU.

Since British voters opted to abandon the European Union stocks around the globe have tumbled, losing just over $3 trillion, according to Standard & Poor’s. But unlike other recent routs at least so far, it appears that hedge funds have fared better than most other i......................

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