The Truth About Chipotle + Ice

The former investor in Chipotle who gave an ICE agent donations doesn’t own stock in Chipotle.

via Newsweek

Ackman purchased a 9.9 percent stake in Chipotle back in September 2016 at a cost of around $1 billion. This made his hedge fund, Pershing Square Capital Management, one of Chipotle’s largest shareholders at the time.

However, Ackman has gradually reduced his stake in the company over the years since. In November, a third-quarter earnings call to investors confirmed Pershing Square had sold its remaining shares in Chipotle.

Despite this, Chipotle felt it was necessary to reaffirm Ackman is no longer associated with the chain. This suggests the company took threats of a boycott seriously. A Chipotle spokesperson told Newsweek: “Bill Ackman is not affiliated with Chipotle and is no longer a shareholder of the Company.”