Well-renowned investor Bill Ackman and his wife, Neri Oxman, have escalated their support for Israel by acquiring a stake in the Tel Aviv Stock Exchange. This move signals one of the most significant investments in Israel since the conflict between the country and Hamas.
Ackman, who is 57 years old and has been vocal in his opposition to the recent increase in antisemitism post the Hamas attacks, along with Oxman, secured 5% of the Tel Aviv Stock Exchange Ltd. Details of the deal suggest that this transaction is part of an approximately 18.5% stake sale to a mixture of foreign and domestic investors. The sale sums up to 353 million shekels (equivalent to $95 million), from which Ackman and Oxman’s investment is calculated to be worth $25 million.
Ackman’s decision further reinforces the popularity of Israel’s rapidly expanding tech scene among international investors. The Tel Aviv Stock Exchange, incorporated in 1953, is the only public securities exchange in Israel and widely recognized for its high standard tech stocks, which perform exceptionally in the financial market.
To add to the context, Bill Ackman is a highly cited hedge fund manager based in the United States. As the founder and CEO of Pershing Square Capital Management, Ackman manages a firm with a sophisticated and adaptive long/short equity strategy.