Bill Ackman Aims to Merge Pershing Square with Universal Music Group

Ackman's $64 billion deal to jointly list Pershing Square and UMG is part of his strategy to become the next Warren Buffett.

Apr. 7, 2026 at 7:25pm

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A high-end, photorealistic studio still-life photograph featuring a stack of vinyl records, a pair of headphones, and a sleek turntable on a clean, monochromatic background, conceptually representing the premium, polished nature of the music industry.Ackman's $64 billion bet on Universal Music Group aims to make Pershing Square the next Berkshire Hathaway.NYC Today

Billionaire investor Bill Ackman's hedge fund, Pershing Square Capital, is planning to buy Universal Music Group (UMG) in a $64 billion deal that would merge UMG and Pershing Square SPARC Holdings as a joint entity to be listed on the New York Stock Exchange by the end of the year. Ackman, a self-described 'Buffett devotee,' is following in his idol's footsteps by attempting to acquire UMG, which he believes is undervalued due to 'a combination of issues that are unrelated to the performance of its music business.'

Why it matters

Ackman's move to acquire UMG and jointly list it with his Pershing Square hedge fund is part of his broader strategy to turn Pershing into a 'modern-day' Berkshire Hathaway and become the next Warren Buffett. By merging Pershing and UMG, Ackman aims to gain access to 'permanent capital' - a key part of Buffett's investing playbook - that would allow him to hold investments for the long-term rather than being subject to quarterly or annual investor redemptions.

The details

Pershing Square currently controls more than 10% of UMG shares, and the deal would create a joint entity to be listed on the NYSE. Ackman believes UMG's stock price has 'languished' due to issues unrelated to its music business performance, such as the postponement of listing the company on a U.S. exchange, underutilization of its balance sheet, poor shareholder relations, and communications. Ackman is following Buffett's advice to 'be greedy when others are fearful,' as UMG's stock is down about 22% year-to-date.

  • Pershing Square filed to be listed on the New York Stock Exchange in recent weeks, marking Ackman's latest attempt to go public in the U.S.
  • The $64 billion deal to merge UMG and Pershing Square was announced on Tuesday, April 7, 2026.

The players

Bill Ackman

A billionaire investor and the founder of Pershing Square Capital, a hedge fund with a market cap of $11.27 billion and $28 billion in assets under management. Ackman is worth $8.13 billion and has described himself as a 'Buffett devotee' as he tries to turn Pershing into a 'modern-day' Berkshire Hathaway.

Pershing Square Capital

Ackman's hedge fund, which currently controls more than 10% of Universal Music Group shares and is planning to merge with UMG in a $64 billion deal to be jointly listed on the New York Stock Exchange.

Universal Music Group

The world's largest music group, representing artists including Taylor Swift, Bad Bunny, Bob Dylan, and the Beatles. UMG's stock price has 'languished' due to issues unrelated to its business performance, according to Ackman.

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What they’re saying

“The company's management have done an excellent job nurturing and continuing to build a world-class artist roster and generating strong business performance. However, UMG's stock price has languished due to a combination of issues that are unrelated to the performance of its music business, and importantly, all of them can be addressed with this transaction.”

— Bill Ackman, Founder, Pershing Square Capital

What’s next

Pershing Square and Universal Music Group will work to complete the $64 billion merger and joint listing on the New York Stock Exchange by the end of 2026.

The takeaway

Ackman's move to acquire UMG and merge it with his Pershing Square hedge fund is a bold attempt to emulate the investing strategy of his idol, Warren Buffett. By gaining access to 'permanent capital' through the joint listing, Ackman hopes to transform Pershing into a 'modern-day' Berkshire Hathaway and cement his status as the next great value investor.