Bill Ackman's Pershing Square has invested $900 million to acquire 9 million newly issued shares of Howard Hughes Holdings (HHH). The transaction, announced on May 5, 2025, brings Pershing Square's ownership to 46.9% of HHH shares.
Ackman, who has been named Executive Chairman of the HHH Board of Directors, aims to transform HHH into a diversified holding company, drawing inspiration from Warren Buffett's Berkshire Hathaway. He envisions a public company built with permanent capital.
The Pershing Square organization will provide HHH with investment, advisory, and other services to support the company's transformation. Howard Hughes Corporation (HHC), the principal operating subsidiary of HHH, will continue to develop its core Master Planned Communities.