Biden’s 2024 Run Will Damage Ackman’s Legacy, According to Bill Ackman

Billionaire hedge fund manager Bill Ackman, the founder and CEO of Pershing Square Capital Management, expressed his opinion on Thursday that President Joe Biden will not leave a good legacy if he becomes the Democratic nominee in 2024.

“I think Biden’s done a lot of good things. But I think his legacy will not [be] a good one if he is the nominee,” Ackman said in an interview with Bloomberg Television’s “The David Rubenstein Show: Peer-to-Peer Conversations.”

He added, “I do think the right thing for Biden to do is step aside and to say he’s not going to run and create the opportunity for some competition.”

Ackman said that in order to be a presidential nominee, “You need to be at your intellectual best. And I don’t think Biden is there. I don’t say that, you know, with any derision of the president. But I think he’s clearly past his physical and cognitive peak.”

He also mentioned that Minnesota Democrat Rep. Dean Phillips, who is challenging Biden for the party’s nomination, has “impressed” him since launching his campaign last month.