Bill Ackman Called Howard Hughes Holdings a "Compounding Machine" He Wants to Turn Into a Trillion-Dollar Business Over the Next 50 Years. Here's Why the Market Might Be Underpricing That Bet.

Published October 7, 2026 · Category: Finance

Overview

Last year, Bill Ackman and his fund, Pershing Square (NYSE: PS), purchased 9 million shares of Howard Hughes Holdings (NYSE: HHH) at $100 per share, acquiring a controlling stake in the business. Today, those shares are worth about $72 each. At the end of September, Ackman laid out his case that they could be worth much more. He believes Howard Hughes could be a "compounding machine" and that the value of the business over the next 50 years could easily surpass $1 trillion.

Not everyone is buying what Ackman's selling, though. Here's why the market might be underpricing Ackman's bet.

Bill Ackman, chief executive of Pershing Square. Image source: Getty Images.

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Originally published at www.fool.com.

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