Bill Ackman Boosts Howard Hughes Stake, Eyes Modern-Day Berkshire Hathaway
The company has a large and growing presence in Texas real estate.
FEATURED
Houston, TX — On May 19, 2025, Bill Ackman’s Pershing Square increased its stake in Howard Hughes Holdings to 69% through a $900M deal, aiming to transform the real estate firm into a diversified holding company akin to Warren Buffett’s Berkshire Hathaway.
The Details:
Strategic Vision: Ackman, who rejoined as executive chairman, sees Howard Hughes as a platform for acquiring high-return businesses, focusing on cashflow to fuel growth.
Texas Connection: Beyond its namesake—Howard Hughes, born in Humble, Texas, in 1905—the company has a major footprint in the state, managing master-planned communities like The Woodlands, Bridgeland, and The Woodlands Hills. Last week, Howard Hughes announced a $16.3M office building purchase in the Woodlands.
Financial Move: The deal includes a $1B investment from Pershing Square and a $500M share buyback, with shareholders able to roll over or cash out.
Why It Matters:
Howard Hughes’ Texas presence strengthens its role in the state’s real estate market.