Bill Ackman, Wife Neri Oxman Acquire 5% Stake In Tel Aviv Stock Exchange Amid Israel-Hamas Conflict (CORRECTED)

Editor’s note: This story has been updated to reflect that Ackman and Oxman’s stake in the Tel Aviv Stock Exchange is worth $25 million.

Bill Ackman, a prominent hedge fund manager, and his wife Neri Oxman have made a significant investment in the Israeli stock market despite the ongoing conflict with Hamas.

What Happened: Ackman and Oxman have acquired a 5% stake in the Tel Aviv Stock Exchange Ltd TVAVF, Bloomberg reported Wednesday. The stake in the Tel Aviv exchange is worth $25 million, according to Ackman’s Pershing Square Capital Management. This marks Ackman’s first major investment in Israel since the conflict with Hamas began.

The Tel Aviv Stock Exchange confirmed the sale of an 18.5% stake to a group of local and foreign investors, with Ackman and Oxman being the only ones publicly named. The deal was arranged by Jefferies Financial Group Inc.

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Despite the conflict, Ackman, whose personal net worth is estimated at $2.6 billion, has been vocal about the rise in antisemitism following the Hamas attacks in October and the subsequent Israeli military offensive in Gaza.

Why It Matters: This investment comes in the wake of a series of controversies involving Oxman. In early January, Ackman refuted allegations of plagiarism against his wife, claiming that the Massachusetts Institute of Technology (MIT) did not enforce citation of Wikipedia until 2013, four years after Oxman completed her thesis.

Shortly after, Ackman softened his stance on academic plagiarism, suggesting that it is nearly unavoidable for authors to miss some citations or neglect to appropriately attribute another author in their academic works. This controversy led to Ackman announcing a review of the work of all current MIT faculty, including its president and board.

Despite these controversies, Ackman’s hedge fund Pershing Square made a strong comeback in 2023, boasting an impressive return of 26.7% and outperforming the S&P 500. This resurgence steered the hedge fund back on track, reinstating its history of delivering double-digit profits to Ackman's investors.

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Image Via Wikimedia Commons.