Billionaire investor Bill Ackman has stepped down from the board of Universal Music Group (UMG), the world’s largest music company, citing increased executive and board obligations from his recent investments. The resignation, effective May 14, 2025, follows Ackman’s appointment as executive chairman of Howard Hughes Holdings, a role that demands more of his time .
Ackman, founder and CEO of Pershing Square Capital Management, has been a significant investor in UMG since 2021, when Pershing Square-led funds acquired approximately 10% of the company. In March 2025, Pershing Square raised $1.4 billion by selling a 2.7% stake in UMG, reducing its holding to 4.7%, valued at €2.59 billion. Despite the sale, UMG remains Pershing Square’s largest investment.
During his three-year tenure on UMG’s board, Ackman was a vocal advocate for a U.S. listing of the company, believing it would increase demand among institutional and retail investors and improve analyst coverage . However, UMG has not yet pursued a U.S. listing.
Following Ackman’s resignation, UMG’s shares on the Euronext Amsterdam fell 3.4% to €26.40 ($29.67), though they remain up over 7% year-to-date . The company expressed gratitude for Ackman’s contributions during his tenure and remains focused on its growth strategy under CEO Sir Lucian Grainge.
As UMG continues to navigate the evolving music industry landscape, Ackman’s departure marks the end of a significant chapter in the company’s recent history.
