Bill Ackman first heard about Warren Buffett when he was 20. Four years later, he read his first Berkshire Hathaway shareholder letter, and something clicked. “I was inspired to become an investor,” the hedge fund manager recalled.

Howard Hughes Holdings Inc.’s stock rose Monday as billionaire Bill Ackman reached a final agreement to acquire a controlling interest in the real-estate-development company that he plans to turn into a modern Berkshire Hathaway.

The billionaire investor said it’s time for a change in leadership at the Ivy League school.

Bill Ackman rattled off a list of concerns over how his alma mater Harvard University has handled the conflict with President Donald Trump, arguing it needs a change in board leadership.

Hedge fund manager Bill Ackman advised Harvard to treat President Trump's demands with respect and said the president is fair to challenge the university's tax-exempt status if there aren't major changes.