The billionaire investor William Ackman said in a tweet on Monday that he gave all of the shares he owned in a South Korean company, worth about $1 billion, to three nonprofits, including his Pershing Square Foundation, a donor-advised fund, and another charity he declined to name. The money comes from his stake in Coupang, an e-commerce company whose stock soared after it went public last week.
The announcement Ackman made on Monday is the biggest and latest uptick in ultra-high-net-worth giving since the beginning of the year and may signal good news for nonprofits seeking big sums after 2020’s tough fundraising climate.
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