Following the assassination of conservative political activist Charlie Kirk, billionaire investor Bill Ackman has pledged to create a $1 million endowment for Kirk’s family alongside a contribution to the FBI reward.
Ackman Pledges Endowment For Charlie's Family
Ackman announced his plans on X, stating, “I am going to create a $1,000,000 ‘endowment’ for Charlie's family. I will invest $1m for the family for free and will give them 5% of the principal each year so they have a growing stream of income for the future with the ability to tap the endowment for emergencies.”
He responded to another X user who suggested that money should be donated to the Kirk family, rather than spending it on finding the killer.
Ackman has also offered $1 million contribution to the FBI reward announced for any information on Charlie’s shooter.
Gun Stocks Surge After Kirk's Tragic Killing
This generous pledge comes in the wake of the tragic assassination of Charlie Kirk, a prominent conservative political activist and Trump ally. Kirk was shot and killed while speaking at Utah Valley University in Orem on Wednesday, sparking a federal investigation and bipartisan condemnation of the violent incident.
Later on Thursday, the FBI released two photos of a person of interest in the shooting of Kirk, offering a $100,000 reward for information. Conservative activists, Alex Bruesewitz and Robby Starbuck, have added $25,000 each to the FBI award.
The assassination of Kirk led to a volatile market for gun stocks like Sturm Ruger & Company (NYSE:RGR), Smith & Wesson Brands Inc. (NASDAQ:SWBI), with shares of gun and ammunition manufacturers moving higher. This was further compounded by a school shooting in Colorado. The news of Ackman’s endowment for Kirk’s family comes amid a period of heightened attention on the issue of gun violence and its impact on the stock market.
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Image Credit: Nick King/Lansing State Journal / USA TODAY NETWORK via Imagn Images
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
