Bill Ackman's Pershing Square Set To Make $600 Million on Universal Stake -- Update

Dow Jones06-04

By Katherine Sayre and Peter Rudegeair

Bill Ackman is set to make hundreds of millions of dollars on his investment in Universal Music Group despite two unsuccessful attempts to clinch deals with the company.

The billionaire's hedge-fund firm, Pershing Square, is selling its remaining stake in Universal after the world's largest music company rebuffed its recent takeover offer. That stake amounts to around 80.6 million Universal shares, worth well over $1.5 billion, according to a sales document released by Bank of America that was viewed by The Wall Street Journal.

All in, Pershing Square expects to reap at least $600 million in profits, including dividends, on the nearly five-year investment, according to a person familiar with the matter.

Ackman is exiting days after Universal rejected a takeover bid he valued at $65 billion from a Pershing Square investment vehicle. Universal's board said the bid undervalued the company, which is home to artists such as Taylor Swift, Kendrick Lamar and Billie Eilish.

The head of Universal's largest shareholder, the Bollore Group, had also urged the company to rebuff the offer. The family of French billionaire Vincent Bollore has a roughly 18.5% stake in Universal and controls nearly 40% of the voting rights.

Write to Katherine Sayre at katherine.sayre@wsj.com and Peter Rudegeair at peter.rudegeair@wsj.com

(END) Dow Jones Newswires

June 03, 2026 16:15 ET (20:15 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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That stake amounts to around 80.6 million Universal shares, worth well over $1.5 billion, according to a sales document released by Bank of America that was viewed by The Wall Street Journal. \n\n\n  All in, Pershing Square expects to reap at least $600 million in profits, including dividends, on the nearly five-year investment, according to a person familiar with the matter. \n\n\n  Ackman is exiting days after Universal rejected a takeover bid he valued at $65 billion from a Pershing Square investment vehicle. Universal's board said the bid undervalued the company, which is home to artists such as Taylor Swift, Kendrick Lamar and Billie Eilish. \n\n\n  The head of Universal's largest shareholder, the Bollore Group, had also urged the company to rebuff the offer. 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