Bill Ackman Made Over $100 Million This Week

Bill Ackman has had somewhat of a losing battle shorting Herbalife, but he finally made some money in other ways.

Valeant shares saw more than a 20% gain after the company had received unsolicited offers for its core assets. The pharmaceutical firm also reaffirmed its optimistic full-year guidance.

After all was said and done, Valeant’s share increase gave Ackman a profit of $113.4 million, based on the 22.6 million shares Pershing owns.

Ackman is the leader of Pershing Square Capital Management, who is the Valeant’s largest shareholder, with 6.33 percent of shares outstanding, according to S&P Capital IQ.

Ackman’s current investment is now worth just $485 million.

Ackman also just recently announced that Pershing was selling its shares in Canadian Pacific Railway (Toronto Stock Exchange: CP-CA). The sale netted his fund $1.5 billion.

Disclaimer: We have no position in Valeant Pharmaceuticals Intl Inc (NYSE: VRX) and have not been compensated for this article.