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Bill Ackman Has Donated $1.3 Billion in Coupang After Early Bet

  • Hedge fund founder was early investor in Korean retail site
  • He gave shares to his foundation, a DAF and a non-profit
Bill Ackman
Bill Ackman
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Bill Ackman gave away shares now worth more than $1 billion of Coupang Inc., the e-commerce giant behind the biggest U.S. initial public offering since Uber Technologies Inc.

The billionaire founder of Pershing Square Capital Management donated 26.5 million shares to the Pershing Square Foundation, a donor-advised fund and another non-profit, he said in a tweet. The stake is worth about $1.3 billion, based on Coupang’s closing price on Friday.