After his daughter survived a fatal brain hemorrhage: Bill Ackman launches a massive brain research institute
Billionaire Bill Ackman has announced the launch of the Ackman Oxman Institute (AOI) in New York. The decision follows the severe brain hemorrhage suffered by his 26-year-old daughter, Lucy, earlier this year.
Bill Ackman, the billionaire and founder of the Pershing Square hedge fund, has announced the establishment of a new research institute in New York dedicated to brain research, rehabilitation from brain injuries, brain-computer interfaces, human capability optimization, and longevity. The institute, named the Ackman Oxman Institute (AOI), was conceived following a life-altering medical emergency involving his 26-year-old daughter, Lucy, earlier this year.
In a detailed post on X, Ackman recounted how Lucy was found unconscious in her Williamsburg apartment in February after suffering a massive brain hemorrhage. Despite medical protocols suggesting that surgery is rarely recommended if more than five hours have passed since such an event, Lucy underwent an emergency procedure 19 hours later and survived.
"Every day she makes a little progress, and the daily progress accumulates," Ackman wrote. He noted that while she still cannot see, she understands her surroundings, can walk with assistance, and is improving her ability to speak. "We remain optimistic that Lucy will return to normal functioning. It will probably take years, but I believe it is only a matter of time, hard work, and technological progress."
From a hospital bed to a multi-hundred-million-dollar institute
Treating Lucy led Ackman to conclude that research and development in brain rehabilitation needed a drastic acceleration. To this end, the Pershing Square Foundation has acquired a 400,000-square-foot biotechnology building in West Manhattan. Ackman plans to expand the complex to 680,000 square feet by acquiring an adjacent building currently used as studio space for "Saturday Night Live."
Unlike traditional academic models focused on publishing, the AOI will prioritize tangible outcomes. "We will focus entirely on cures, treatments, devices, rehabilitation, and training equipment," Ackman stated, aiming to "dramatically shorten the time that passes from idea to innovation, from innovation to production, and from production to helping the patient." The institute will also feature an investment arm to foster commercial companies.
Funding and vision
Ackman and his wife, Neri Oxman, are donating approximately $400 million to the institute through 10 million shares of Pershing Square Inc. A second, potentially larger donation is expected to follow. The goal is to make the AOI financially independent by reinvesting royalties and profits from its internal ventures.
The board of directors includes luminaries such as Nobel laureate James Rothman and inventor Dean Kamen. The institute expects to announce a CEO by October and is currently recruiting a Chief Scientific Officer, a Director of AI and Technology, and other executive leadership.
"We learned from Lucy that the brain can recover even from a catastrophic injury," Ackman concluded. "There is still so much work to do, because the mind is too terrible a thing to waste."
