Billionaire hedge fund manager Bill Ackman plans to donate $1 million to a political action committee (PAC) backing Rep. Dean Phillips (D-MN), a Democrat who launched a primary challenge to President Joe Biden in October last year.
Mr. Phillips is a 54-year-old, three-term congressman from Minnesota who launched a run for the Democratic nomination in 2023. According to his campaign website, he ran several successful businesses before being elected to office.
In his Jan. 13 statement on X (formerly Twitter), Mr. Ackman said, in his opinion, Mr. Phillips would be a “truly outstanding President of the United States,” a conclusion he came to after a recent meeting.
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