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Finally Some Good News For Bill Ackman: He's Officially A Billionaire

Julia La RocheMar 4, 2013, 17:53 IST

Hedge fund titan Bill Ackman, the CEO of Pershing Square Capital Management, is officially a billionaire.

Forbes has just released its annual "World's Billionaires" list and this time Ackman is on it.

The magazine estimates that the 46-year-old fund manager has a net-worth of $1.2 billion. He ranks No. 1,175 in the world.

This is some much needed good news for the fund manager.

Ackman has made headlines lately for his Herbalife short. He is shorting more than 20 million shares of the nutrition supplement seller with a price target of $0 because he believes it is a pyramid scheme.

He has also been in the spot light for his big position in JCPenney, which had disastrous earnings causing the stock to tank.