Finance

Bill Ackman’s Berkshire Blueprint: Reimagining Buffett’s Empire for a New Era

Bill Ackman is positioning himself as this generation’s answer to Warren Buffett — though he’s not quite ready to say it outright.

The activist-turned-long-term investor acknowledged Buffett’s unmatched legacy in a conversation with Yahoo Finance at the Milken Institute Global Conference on Monday.

“Warren’s an icon, and he deserves his own place in history,” said Ackman, CEO of Pershing Square.

Still, Ackman made a Buffett-style move that same day. Pershing Square announced a $900 million investment in Howard Hughes Holdings (HHH), securing a 46.7% ownership stake. Ackman will step in as executive chairman, while Pershing Square CIO Ryan Israel — widely seen as Ackman's eventual successor — will become CIO of Howard Hughes.

The goal: transform Howard Hughes into a diversified holding company that acquires other businesses to drive long-term value — a strategy that echoes the playbook Buffett and Charlie Munger began writing decades ago.

TECH

China Tech Surges: DeepSeek, Temu, TikTok Lead a New Wave of Innovation

When Eric and Henry Kissinger visited China in July 2023, it was clear that the country’s top leaders had yet to fully grasp the transformative potential of artificial intelligence. The mood was subdued, weighed down by economic uncertainty. But just 19 months later, when Selina returned, the atmosphere had dramatically shifted — optimism was in the air.

Conversations over dinner buzzed with talk of DeepSeek and other A.I. chatbots. Electric vehicles zipped through city streets, apps enabled drone-delivered meals, and Unitree's humanoid robots dazzled viewers on the “Spring Festival Gala” — China’s most-watched television show — performing choreographed routines and spinning handkerchiefs, catapulting the company into national fame.

CRYPTO

Trump’s Crypto Empire: Built on Secrets, Global Cash, and Political Clout

The GOP’s sweeping tax cut bill isn’t the only Trump-era priority running into trouble on Capitol Hill — Republicans are now facing an unexpected obstacle on the crypto front.

Tensions flared in the Senate over the weekend after nine key Democrats, led by Sen. Ruben Gallego (Ariz.), announced their opposition to a Republican-backed bill that would establish new regulations for stablecoins.

The sudden pushback poses a major challenge for Senate Republicans, who are aiming to fast-track a vote on the legislation by late May — hoping to deliver what they’ve called a “big, beautiful” crypto win for Donald Trump.

Why it matters: The clash marks one of the first major bipartisan tests in the second Trump era. Since the bill can’t pass through budget reconciliation, Republicans need at least nine Democratic votes to break a Senate filibuster.

It’s also revealing internal Democratic divisions over crypto. Sen. Elizabeth Warren (Mass.) has been urging caution, while Sen. Kirsten Gillibrand (N.Y.), the bill’s lead Democratic co-sponsor, has pushed for passage.

Adding to the political complexity: the crypto industry’s growing influence in Washington, including tens of millions of dollars poured into congressional races last year.

So what happened? Four of the nine Democrats now opposing the bill had previously supported it in committee, but they say recent GOP changes to the legislation would expose the financial system to unnecessary risks. Among the critics are Sens. Mark Warner (Va.), Lisa Blunt Rochester (Del.), and Andy Kim (N.J.).

During a closed-door caucus meeting last Thursday, several Senate Democrats also raised concerns about backing industry-driven legislation at a time when members of the Trump family are reportedly trying to launch their own crypto ventures. Senate Majority Leader Chuck Schumer (N.Y.) advised Democrats to withhold support for the bill until further changes can be negotiated.