Billionaire investor Bill Ackman is floating a peace plan for Ukraine that, like Elon Musk's, requires giving major concessions to Russia

• Billionaire investor Bill Ackman floated a peace plan for Ukraine on Sunday.
• Like Elon Musk's controversial plan, Ackman's involves giving concessions to Russia.

Billionaire investor Bill Ackman has floated a peace plan for Ukraine that involves letting Russia keep Crimea.

Ackman, the founder of hedge fund Pershing Square, wrote on Twitter on Sunday that an armistice to restore Ukraine's borders as of February 23 — before the Russian invasion — could end the war.

"Crimea was part of Russia until 1954 and is largely comprised of ethnic Russians, which was apparently why the world did little when Russia annexed it back in 2014," Ackman tweeted. "If we return to the status quo ex ante 2/24, Russia is not rewarded for its aggression and Ukraine can immediately begin to rebuild with support from the West."

Ackman added that a ceasefire would save thousands of lives and allow resources to be invested into rebuilding Ukraine's infrastructure, "rather than in a war that will only lead to more destruction and death."

"UKR has proven it can defend itself without NATO membership. Properly armed it will deter future aggression. If there is a viable path to peace, we should pursue it," Ackman tweeted.

"Each day the conflict continues, the risk to the world rises. Other than a prolonged and dangerous war where more countries (Belarus, Iran) are dragged into the conflict," Ackman added.

He ended his thread on Twitter by saying that he does not see "a more likely path to peace," but welcomes suggestions and feedback.

Ackman received considerable backlash on Twitter, with some Twitter users accusing him of being too conciliatory to Russia. In response, Ackman said he had contributed millions of dollars in aid to Ukraine.

Ackman's ceasefire plan comes two weeks after Tesla CEO Elon Musk drew ire for tweeting out a peace proposal of his own that parroted Kremlin talking points. In the October 3 Twitter poll, Musk called for a vote on ceasefire conditions largely favorable to Russia. This poll infuriated Ukrainian officials, including President Volodymyr Zelenskyy.

While Ackman's plan differs from Musk's, both billionaires have taken the position that Ukraine should take steps to secure a ceasefire and let Russia keep Crimea. Both Ackman and Musk also seem to agree that Ukraine should remain neutral, and not join NATO.

Ackman's representatives at Pershing Square did not immediately respond to Insider's request for comment.