Billionaire Bill Ackman Discloses New $900 Million Bet on Starbucks

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Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian

Billionaire investor Bill Ackman, 52, loves his Starbucks. So much so, that the Pershing Square investor revealed Tuesday that over the last 90 days, his fund has upped their play in the coffee chain to nearly a billion dollars.

Ackman told a crowd at Grant’s Fall 2018 Conference in New York that his fund now has 15.2 million shares of Starbucks, which calculates to roughly $900 million. Starbucks shares popped more than 3 percent on the news and are little changed for the year.

He said he likes Starbucks because they care for its partners and they are not threatened by increases in the minimum wage.

Read more starting with ‘Ackman is no stranger to the food and beverage space.’ at…

Billionaire Bill Ackman discloses new $900M bet on Starbucks
FYI -Bill Ackman Net worth: 1.1 billion USD (2018)

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