Billionaire hedge fund investor Bill Ackman beaten in ATP Tour debut
Billionaire hedge fund investor Bill Ackman was beaten in straight sets as he made his ATP Tour debut.
The 59-year-old chief executive of Pershing Square Capital Management lost 6-1 7-5 in the Hall of Fame Open doubles tournament in Rhode Island alongside his partner Jack Sock – a three-time grand slam winner.
Ackman was entered into the ATP Challenger competition as a wildcard but fell to Austrian duo Omar Jasika and Bernard Tomic; the latter reached the quarter-finals of Wimbledon in 2011.
The hedge fund investor had previously had plans to compete alongside Nick Kyrgios but the Australian was reportedly unable to commit due to injuries.
A win for Sock and Ackman would have bagged them around $2,000, with the eventual Challenger champion receiving nearly $10,000.
Ackman has supported the likes of American player Frances Tiafoe in the past, while he is one of the blockers of a tennis players trade association.
The near-60-year-old billionaire is also the board chair of the Professional Tennis Players Association’s for-profit arm.
Ackman for Wimbledon?
“I have had a lifelong passion for tennis, both as a player and a fan, but have long recognized the challenges that most professional tennis players experience due to the sport’s inferior economics for all but the very top of the rankings ladder,” Ackman said in 2023.
He also featured in a recent Finance Cup tournament alongside global co-head of investor relations and marketing for Taconic Capital, Richey Reneberg.
Pershing Square Capital Management’s assets under management equates to nearly $20bn while previous investments have included fast food chain Wendy’s and US store chain Target.
Pershing Square has more recent investments in the likes of Universal Group – since 2021 – and Netflix, which lasted for three months before a stake sell-off.
The devastating straight sets loss has raised questions as to who should get wildcards on official ATP Challenger events.