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.
