MAGA Billionaire Sucks Up to Trump After Market Recovery
Bill Ackman resumed his role as Trump’s hype man after spending the weekend trashing the president’s tariff strategy.
Bryan Bedder/Getty Images
MAGA Billionaire Bill Ackman scrambled to cozy up to President Donald Trump again after the president’s announcement of a 90-day tariff pause Wednesday, eager to make amends for his recent criticism.
“This was brilliantly executed by @realDonaldTrump. Textbook, Art of the Deal,” the hedge fund manager posted on X Wednesday.
Ackman previously called the tariff strategy a “mistake” that could lead the U.S. to the brink of an “economic nuclear winter.” But the former Democratic Party donor-turned-MAGA hype man seems to have changed his thoughts on the way Trump handled the rollout.
“The benefit of @realDonaldTrump’s approach is that we now understand who are our preferred trading partners, and who the problems are,” he told the president in a separate X post.
This was brilliantly executed by @realDonaldTrump. Textbook, Art of the Deal.
— Bill Ackman (@BillAckman) April 9, 2025
“China has shown themselves to be a bad actor. Our counterparties also have a taste of what life is like if they don’t take down their trade barriers. This is the perfect setup for trade negotiations over the next 90 days.”
Trump announced Wednesday that he would pause his chaotic tariff rollout for 90 days—excluding those aimed at China—after days of market turmoil that wiped out trillions of dollars and rattled his billionaire backers, including Ackman.
Get the best of The Beast delivered right to your inbox
By clicking “SUBSCRIBE” you agree to our Terms of Use and Privacy Policy.
Ackman was among a chorus of billionaires begging for a tariff timeout over the weekend, urging “cooler heads” to prevail in the Trump administration.
The 'reciprocal tariffs' Donald Trump announced last Wednesday have now been paused, excluding those aimed at China.
Brendan Smialowski/Getty Images
He made his frustration known by lashing out at billionaire Commerce Secretary Howard Lutnick, one of the architects behind the trade policy, calling him “indifferent” to the chaos affecting everyday Americans.
“President @realDonaldTrump is not an economist and therefore relies on his advisors to do these calculations so he can determine policy. The global economy is being taken down because of bad math,” Ackman wrote Monday.
Lutnick, for his part, tried to claim credit for the tariff pause and distance himself from the disastrous plan he’d spent weeks cheerleading in countless TV appearances and meetings with business leaders in an X post Wednesday.
See more of our coverage in your search results.
Got a tip? Send it to The Daily Beast here.
Register below to read this article for free or subscribe
to unlock unlimited access to The Daily Beast.
Monthly
$1
First month then $5.99/month
Annual
$35
First year then $59.99/year
Premium
$79
First year then $119.99/year
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Already have an account? Sign In
Looks like you already have a subscription!
You're all set!
Thanks for subscribing.
Sign in
Login dialog