Bill Ackman used a 9.9% stake to seize total control of Chipotle without a buyout.
In 2018, Pershing Square weaponized $1.1 billion on Wall Street to oust executives.
After massive losses in Valeant, Bill Ackman targeted Chipotle in 2018 with a $1.1 billion position. Viewers often ask how did Bill Ackman take over Chipotle without owning a majority of the stock. Pershing Square forced executive resignation, reshaped the board, and completed one of the most aggressive corporate coups in US history as of 2026.
On February 12, 2018, Bill Ackman stood before Wall Street and unveiled a 9.9% stake in Chipotle. Here is the untold inside story of how Pershing Square seized total control of the burrito giant without owning a majority.
BUILT & BROKEN — one empire built, one broken, every week.
#Chipotle #BillAckman #PershingSquare #BrianNiccol #SteveElls
