1. Relationship Timeline:
- 2016: Ackman called Trump “the disruptor Wall Street needs,” hosted $100k/plate fundraiser.
- 2020: Quietly donated to Biden after COVID response criticism.
- 2024: Full break over Harvard fallout (Trump attacked Ackman’s anti-DEI campaign).
2. Psychological Shift:
- Sources describe Ackman’s frustration with Trump’s “transactional loyalty” after being ignored on SEC reform advice.
- Turning point: Trump’s TikTok ban threat endangered Ackman’s Chinese biotech holdings.
3. Ripple Effect Analysis:
- Donor math: 30% of Ackman’s network (est. $2B in GOP donations) now “re-evaluating.”
- Media impact: His CNBC comments trended #1 on Wall Street message boards.
4. Compensation Consultant View:
- “This mirrors Fortune 500 CEO succession battles,” says McKinsey’s Jane Stevenson. “Founders vs. professional managers.”
