Bill Ackman Donates $1M to Support Dean Phillips' Presidential Bid

Despite Low Polling, Ackman Believes Phillips Has a Credible Path to Democratic Nomination

Billionaire investor Bill Ackman has pledged $1 million to a political action committee supporting the presidential campaign of Rep. Dean Phillips, a Democrat challenging President Joe Biden.
Ackman believes that Phillips, despite currently low polling numbers, has a credible path to winning the Democratic nomination.
Ackman predicts a further decline in Biden’s popularity as the election progresses, asserting that the Democratic Party may have no choice but to choose Phillips over Biden.
Phillips, a three-term congressman from Minnesota, announced his candidacy in late October and has been increasingly critical of Biden's intentions to run for a second term.
Ackman's donation is the largest he has ever made to a political campaign.