Billionaire investor Bill Ackman endorses Trump in Presidential race

Billionaire investor Bill Ackman has endorsed former President Donald Trump in upcoming US presidential race, where Trump is set to face President Joe Biden. This endorsement comes shortly after Trump was injured by a shot to ear during a campaign rally.

"I am going to formally endorse @realDonaldTrump," Ackman announced on social media platform X. "I assure you that I have me this decision carefully, rationally, and by relying on as much empirical data as possible."

Ackman's endorsement follows that of Tesla CEO Elon Musk, who expressed his support for Trump and wished him a swift recovery from incident. Trump, who was hit in upper right ear, is reported to be doing fine according to his campaign.

This marks a significant shift for Ackman, who in 2021 called for Trump's resignation and apology to Americans following January 6 Capitol attack. CEO and portfolio manager of Pershing Square Capital Management recently spent a few hours with Trump but did not elaborate on his reasons for endorsing him, stating that a more detailed explanation would require a longer post, which he has not yet written.

Ackman briefly referenced shooting incident in a later post, acknowledging, "We are in midst of a perilous moment for our democracy." He also mentioned that his decision to endorse Trump h been me some time ago, with his X followers likely deducing this from his supportive posts of Trump and his criticisms of Biden. Ackman has 1.3 million followers on platform.

Reports from May indicated that Ackman h been considering endorsing Trump, with plans to announce his support via X, Reuters, and or media outlets.

(With Reuters inputs)