Activist investor Bill Ackman’s fundraising for the initial public offering for a closed-end fund has gone from bad to worse this week. The famed hedge fund manager is hoping to use his newfound social media stardom to drum up investor interest in a new fund called Pershing Square USA, a closed-end fund he is taking public that, unlike his previous business ventures, regular retail investors would be able to invest in.

Bill Ackman's crisis of overconfidence

New York Post

Billionaire Bill Ackman said on Tuesday that his new portfolio will raise roughly $2 billion in capital — a fraction of the $25 billion the hedge fun manager had initially floated.

Pershing Square USA, Ackman’s first new investment vehicle in a decade, expects to sell up to 40 million shares priced at $50 each. 

It will begin trading on the New York Stock Exchange under the symbol PSUS next Tuesday, a person familiar with the matter said on Tuesday.



The new venture, which was originally slated to launch this week, will be a closed-end fund, meaning shareholders can only pull back if someone else buys their...

Bill Ackman’s Pershing Square fund now raising $2B for IPO — well below $25B target

One of the world’s largest financial powerhouses, Cantor Fitzgerald, which boasts a $13.2 billion valuation, is poised to make a significant entry into the crypto market, as the firm recently unveiled plans to delve into Bitcoin-backed lending on a grand scale. According to the firm’s announcement, the strategic move...

Cantor Fitzgerald Eyes Major Bitcoin Financing Business, $2B Initial Capital To Fuel Growth

TheStreet

Berkshire Hathaway's share price has climbed 22% year-to-date.

Warren Buffett's Berkshire sheds Bank of America stock

Billionaire investor Warren Buffett has dumped more than $3 billion worth of shares in Bank of America over the past weeks, taking profits after a big run-up in the second-largest US lender’s stock price.

The 93-year-old Buffett, dubbed ‘the Sage of Ohama’, disposed of 18.4 million of the bank’s shares for $767 million between July 25 and 29, according to a Monday night regulatory filing.

In all, his investment conglomerate, Berkshire Hathaway, has sold 71.2 million Bank of America shares for $3.05 billion since July 17, but still retains a 12.5% stake in the Charlotte, NC-based lender.



Berkshire Hathaway remains the bank’s largest shareholder...

Warren Buffett dumps $3B worth Bank of America shares to cash in on soaring stock price

Jeff Bezos is selling 25 million Amazon shares worth $5 billion, according to a regulatory filing on the day the tech giant’s stock hit a record high. The proposed sale on Tuesday came as Amazon’s stock closed at $200 per share, its highest price since Amazon’s 1997 NASDAQ listing.

Jeff Bezos selling $5B worth of Amazon shares as company’s stock hits all-time high

Pennsylvania State

Butler, PA

Members of a local SWAT team assisting in security for Donald Trump’s July 13 rally in Butler, Pennsylvania, spoke to ABC News about what led to the failed assassination attempt.

Local sniper who spotted Trump shooter 1.5 hours before failed assassination attempt speaks out

The Oracle of Omaha's investing prowess has earned him quite the following on Wall Street. Although Apple accounts for 43% of Berkshire Hathaway's invested assets, it's not the stock Buffett has sunk the most money into. Warren Buffett's favorite stock has been purchased for 23 consecutive quarters. The estimated $31.3...

Billionaire Warren Buffett Has Purchased $77 Billion of His Favorite Stock, Which Is More Than Double What He's Spent Buying Shares of Apple!

When Jay Chaudhry sold his first company for $70 million, he focused less on his own riches, he says — and more on how the deal could turn dozens of his employees into millionaires. Chaudhry, 65, is known today as the billionaire founder and CEO of Zscaler, a cloud...

65-year-old CEO turned at least 88% of his employees into millionaires after selling his company for $70 million

Text messages between law enforcement before the assassination attempt against Donald Trump earlier this month suggest that some officers raised the shooter’s presence at the rally more than 90 minutes before he climbed onto a roof and fired eight rounds at the former president.

Text messages from law enforcement show concerns were raised more than 90 minutes before Trump rally shooting

In a heated exchange during Tuesday’s hearing, Sen. Ted Cruz (R-TX) pressed Secret Service acting Director Ronald Rowe Jr. about the number of agents working Donald Trump’s Butler, Pennsylvania, rally.

‘Stop interrupting me’: Cruz gets in heated exchange with Secret Service official

New York City, NY

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Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

There may soon be one fewer person standing between you and your Cheesy Gordita Crunch.

A major change is coming to Taco Bell drive-thrus

John Portmann was adopted as a baby and knew nothing of his ancestry. Then in 2019 he learned he was “100% Irish” and his path to Irish citizenship began.

A US man was taken in by nuns as a baby. After a DNA test, he now has an Irish passport

Retired US Air Force Col. Cedric Leighton weighs in on the potential threats after Hamas political leader Ismail Haniyeh was killed in Iran.

Retired colonel predicts how Iran may respond to killing of Hamas political leader

A former health care worker charged with posting the medical records of the late Justice Ruth Bader Ginsburg on a message board widely known as a hotbed for hate speech told a federal court on Tuesday that he never accessed the documents and rarely even thought about members of the Supreme Court.

Health care worker accused of posting Justice Ginsburg’s medical records denies accessing them

Hamas political leader assassinated in Iran, new study says more money means more happiness, Lululemon coming apart at the seams, and much more on today’s episode of 5 Things. Sign up for our newsletter at CNN.com/5Things and watch more at CNN Max.

The 5 stories you need to know today

Researchers’ detection of two gases, phosphine and ammonia, in the clouds of Venus raises speculation about possible life forms in the planet’s atmosphere.

The discovery of a possible sign of life in Venus’ clouds sparked controversy. Now, scientists say they have more proof

Sen. Lisa Murkowski (R-AK), who is not supporting former President Donald Trump, criticized Sen. JD Vance’s past comments about “childless cat ladies” and said that they were “offensive to me as a woman.”

‘Offensive’: GOP senator criticizes JD Vance’s remark

Republican strategist Shermichael Singleton reacts to former President Donald Trump’s interview with journalists at the National Association of Black Journalists conference.

GOP strategist reacts to Trump’s combative interview with Black journalists

NewsBreak

Bill Ackman’s Pershing Square USA withdraws US IPO

Pershing Square USA said on Wednesday it was withdrawing its initial public...

Bill Ackman’s Pershing Square USA withdraws US IPO

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