FILE PHOTO: Bill Ackman, founder and CEO of Pershing Square Capital Management, attends the Milken Conference 2025 in Beverly Hills, California, U.S., May 6, 2025. REUTERS/Mike Blake/File Photo
16 May 2026 03:48PM
May 16 : Billionaire investor Bill Ackman said on Saturday that the sale of Google parent Alphabet's shares was not a bet against the company.Ackman on Friday said his firm Pershing Square had built a new position in tech giant Microsoft after its stock price dropped recently, and sold his long-owned investment in Alphabet to help pay for it."To be clear, our sale of Google was not a bet against the company. We are very bullish long term on Alphabet. But at current valuations and in light of our finite capital base, we used as a source of funds for Microsoft," Ackman wrote on X on Saturday.
Source: Reuters
