Bill Ackman’s Amsterdam Exit: A Stand Against Rising Anti-Semitism

Edited by: Fern Sidman

In a striking and symbolic move, billionaire hedge fund manager Bill Ackman has announced his intent to withdraw his Pershing Square Capital Management from the Euronext stock exchange in Amsterdam. Ackman’s decision follows a wave of anti-Semitic incidents targeting Israeli soccer fans in the Netherlands, which erupted after a recent match between Maccabi Tel Aviv and the Amsterdam-based elite soccer club, Ajax. According to a report in The New York Post, Ackman, who is Jewish, said on X (formerly Twitter) that he would formally seek approval from his board to delist from the Dutch exchange, citing the city’s failure to protect vulnerable populations, including visiting supporters from Israel.

Breaking: More footage from Amsterdam shows a Middle Eastern migrant running up behind a Jewish woman and kicking her to the ground.

Other than simply existing, what did that woman do to deserve that? pic.twitter.com/LjYQ8VpKgy

— Eyal Yakoby (@EYakoby) November 10, 2024

The New York Post reported that the anti-Semitic violence reached disturbing levels in Amsterdam, with groups labeled as “anti-Semitic hit-and-run squads” by Mayor Femke Halsema attacking and harassing Maccabi fans. These groups unleashed fireworks and other forms of abuse in several parts of the city. The violent incidents led to more than 60 arrests and left 10 people injured, calling attention to the scale of unrest. Amsterdam’s mayor condemned the attacks, but the apparent lack of police protection for the targeted Israeli fans has left many questioning the commitment of Dutch authorities to safeguarding Jewish visitors to the city.

Ackman’s reaction was swift and resolute, declaring that recent events in Amsterdam served as a “tipping point” for removing his firm’s listing from Euronext. For Ackman, this decision aligns with both moral and business imperatives, as he highlighted Amsterdam’s failure to ensure the safety of Israeli tourists as a driving factor. The New York Post report noted that Ackman’s Pershing Square has previously explored relocating to the London Stock Exchange, where much of the firm’s trading already takes place, making this a practical as well as a principled move.

🚨 BREAKING: @BillAckman will seek approval from the board of Pershing Square Holdings—in which he and his family hold a 23% ownership stake—to delist from the Euronext Amsterdam exchange, in response to last night’s horrific pogrom targeting Jews in Amsterdam. pic.twitter.com/qKJ9k5wZvI

— Awesome Jew (@JewsAreTheGOAT) November 8, 2024

The New York Post report elaborated on Ackman’s long-standing criticism of policies and social movements that he views as flawed. Ackman, a former supporter of the Democratic party who has since shifted to endorse Donald Trump, has openly challenged diversity, equity, and inclusion (DEI) initiatives, calling them “racist and illegal.” According to the information provided in The New York Post report, Ackman’s critique extends to university settings, where he was notably outspoken against Harvard’s administration in the wake of pro-Hamas protests on campus, contending that the demonstrations reflected a deep-seated failure of leadership in addressing campus anti-Semitism.

Ackman’s dissatisfaction with the Dutch jurisdiction goes beyond his investment firm’s listing. The New York Post report revealed that Ackman, who owns a roughly 10% stake in Universal Music Group (UMG) and serves on its board, is in discussions to move UMG’s listing from Amsterdam to the United States. Ackman confirmed on X that Pershing Square holds a contractual right to shift UMG’s listing, and he expects to execute this transition within the coming year.

For Ackman, who has a reputation for making bold financial and ethical statements, the recent violence in Amsterdam adds a significant weight to his stance on anti-Semitism and corporate accountability. The New York Post report indicated that Ackman’s high-profile financial strategies are often accompanied by controversial and sometimes confrontational stances. His notorious battle with Carl Icahn over Herbalife, the dietary supplements company, marked a turning point in his career. Ackman’s $1 billion short position in Herbalife, which he claimed was a fraudulent enterprise, led to a public and highly personal confrontation with Icahn, who took an opposing view on Herbalife’s viability.

The hedge fund manager’s response to the Muslim led anti-Semitic attacks in Amsterdam reflects his willingness to align his business interests with his ethical convictions, even when such decisions require substantial shifts in investment strategy. The report in The New York Post said that as Ackman pursues a US listing for UMG and potentially relocates Pershing Square’s Euronext listing to London, his moves are being closely watched by both financial analysts and advocates against anti-Semitism.

For Ackman, the horrifying anti-Semitic violence in Amsterdam represents more than just isolated incidents; it is a wake-up call for the global investment community and highlights the urgent need for stronger protections for Jewish visitors. As The New York Post reported, Ackman’s high-profile stance against anti-Semitism and his willingness to put his money where his values lie make him a formidable figure in both finance and advocacy, especially as anti-Semitic incidents continue to impact communities worldwide.