Billionaire investor Bill Ackman strongly rejected claims that he exploits a controversial tax loophole, engaging in a fiery exchange on X after wealth manager Ross Gerber accused him of paying a lower tax rate than a public school teacher.
The ‘Scam’ Accusation
The public dispute began on March 11 when Gerber targeted Ackman’s compensation, specifically a reported $140 million in earnings.
Gerber, the Co-Founder, President, and CEO of Gerber Kawasaki Wealth & Investment Management, alleged that Ackman benefits from the “carried interest” provision, which allows investment managers to treat performance-based pay as long-term capital gains rather than ordinary income.
“One thing that is absurd is Bill Ackman made $140 mil in income last year and paid a lower tax rate than a school teacher in LA due to the hedge fund tax scam called carried interest,” Gerber wrote on X. He demanded that the loophole be stopped and argued Ackman should receive standard W-2 income.
Ackman Fires Back
Ackman quickly dismantled …
This post was originally published here
