Activist investor Bill Ackman has recently secured a stake exceeding $2.3 billion in ride-hailing leader Uber, taking advantage of what he described as a “massively discounted” entry point. Ackman made the announcement after Uber reported Q4 earnings that fell short of expectations. Despite the disappointing quarterly performance, he underscored the transformative potential of autonomous vehicles—a market he believes could unlock opportunities worth over $1 trillion for Uber, fundamentally reshaping its business model.
According to Ackman’s post on X, his fund began accumulating Uber shares in early January 2025 and now holds 30.3 million shares. With Uber trading at roughly $76 per share, this stake is valued at about $2.3 billion.
Bill Ackman emphasized that he believes Uber is “one of the best managed and highest quality businesses in the world.” He noted that despite its strong fundamentals, the ride-hailing giant’s stock is still available at a massive discount relative to its intrinsic value—a rare scenario for a large-cap company like Uber. This confidence in Uber’s long-term potential highlights why Bill Ackman finds the current market conditions to be a compelling investment opportunity.
On Friday, Uber shares surged more than 9%, boosting the company’s market capitalization beyond $160 billion. This rally came after a brief setback on Wednesday when the stock dipped 7.5% due to softer guidance and an earnings miss.
Ackman, the head of Pershing Square Capital Management, shared his thoughts on X, stating, “We believe that Uber is one of the best managed and highest quality businesses in the world. Remarkably, it remains available at a significant discount to its intrinsic value. This rare blend of quality and undervaluation is especially uncommon in large-cap stocks.”
Notably, Uber has experienced a robust recovery in 2025, with its shares rallying approximately 25% after a modest 2% decline in 2024. Bill Ackman’s strategic investment in Uber underscores his belief in the company’s future growth and strong management, marking it as a standout opportunity in the market.
Bill Ackman’s Pershing Square Capital Management fund currently holds 10 stock positions, with Alphabet—Google’s parent company—as its largest holding as of the end of September. Other major investments include Brookfield, Hilton Hotels, Chipotle Mexican Grill, Restaurant Brands, Nike,
While neither Pershing Square nor Uber has yet commented further, Ackman contrasted the company’s historical “erratic management” with the disciplined leadership of CEO Dara Khosrowshahi, whom he credited for turning Uber into a profitable enterprise. Khosrowshahi took the helm in 2017, replacing co-founder Travis Kalanick after a series of scandals—including allegations related to neglecting workplace sexual harassment issues—plagued the company.
Ackman also revealed that his hedge fund began acquiring Uber stock in early January and now holds more than 30 million shares. His association with the company dates back to its inception in 2009, when he made an initial, smaller investment through a venture capital fund.
Ackman praised Uber’s CEO, Dara Khosrowshahi, for his exceptional leadership and strategic vision. “I have been a long-term customer and admirer of Uber since Edward Norton introduced me to the app in its early days,” Ackman commented. “Since Dara Khosrowshahi took the helm in 2017, he has transformed the company into a highly profitable and cash-generative growth machine.”
Uber marked a turning point last February by reporting its first annual operating profit—a significant milestone for the Silicon Valley company. This achievement came on the heels of a challenging period around its 2019 initial public offering, which did not meet the lofty $120 billion valuation expectations and resulted in one of the worst first-day losses for any U.S. public company.
CEO Khosrowshahi had described those earlier setbacks as pivotal, asserting that they demonstrated Uber’s ability to generate robust, scalable profit. The company not only returned to annual profitability last year but is also forging ahead with plans to incorporate autonomous vehicles into its fleet. In line with these ambitions, Uber signed an agreement with Alphabet’s Waymo last year and recently opened a waiting list for its self-driving vehicles in Austin, Texas.
This bold move by Bill Ackman underscores his confidence in Uber‘s strategic direction and long-term growth prospects, reinforcing his reputation as an investor with a keen eye for undervalued, high-quality opportunities.