TECH - Bill Ackman 'Absolutely' Keen On Investing Big In Elon Musk's X — But Could It Really Go Through? | Benzinga
Renowned investor Bill Ackman could be planning an investment in X, the social media platform owned by Elon Musk, through his firm Pershing Square Holdings Ltd (OTC:PSHZF).
What Happened: According to The Wall Street Journal, Pershing Square obtained regulatory approval last Friday for a novel investment vehicle aimed at investing in a privately held company with the intention of taking it public. When queried about the possibility of transacting with X, Ackman’s response was a firm “Absolutely.”
However, the probability of such a deal materializing remains low since Musk bought the company for $44 billion last year and has expressed intentions of possibly taking it public in a few years.
The platform’s ad revenues have dipped under Musk’s leadership, and the acquisition has accrued $13 billion in debt, factors that could potentially dissuade public investors.
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