Chipotle Distances Itself from Ackman Amid Controversy
Chipotle announced it has ended any association with billionaire investor Bill Ackman after a social media post falsely claimed he owned the restaurant chain and called for a boycott of donations to the legal defense fund for ICE agents involved in a Minneapolis shooting incident.
In a tweet, the company clarified, “Bill Ackman is not affiliated with Chipotle,” responding to comments like, “Please don’t eat at Chipotle. The guy who owns that store just donated $10,000 to the man who killed Renee Goode.”
Ackman’s hedge fund, Pershing Square Capital Management, had held a 9.9% stake in Chipotle since 2016, actively participating in the company’s strategic overhaul. However, disclosure from the company’s November earnings call revealed that they fully divested from Ackman’s firm by late 2024.
The situation gained traction after a donor to ICE Officer Jonathan Ross’s GoFundMe was identified as Ackman. Ross shot Renee Nicole Good during an immigration raid in Minneapolis, which led to widespread protests across the nation.
Ackman confirmed the donation via social media, explaining that his support wasn’t intended as a political statement about immigration enforcement but was grounded in a long-standing commitment to providing legal defense for the accused. “I simply continued my longstanding commitment to assisting in the defense of those accused of crimes,” he wrote. He emphasized that a thorough forensic investigation is essential to determine Ross’s guilt.
Ackman also reflected on his past experiences, recalling scrutiny he faced in 2002 when he challenged the finances of MBIA. He noted that despite the pressure from high-profile individuals trying to silence him, his analysis was validated years later when MBIA was downgraded from AAA to junk status during the financial crisis.
“Nearly on this day 23 years ago, I was accused of a crime I didn’t commit,” Ackman shared. He pointed out that although he was cleared of wrongdoing after a year-long investigation, the damage to his reputation lingered. His ordeal inspired him to become a key supporter of the Innocence Project, which seeks to exonerate the wrongfully convicted. Ackman is also currently funding legal fees for two others facing accusations.
He tried to donate to Good’s family through GoFundMe but found it had been closed after achieving its $1.5 million target. Reflecting on societal changes, Ackman expressed disappointment over how easily principles can be set aside based on political affiliations.
The Department of Homeland Security stated that Good had a weapon in his vehicle and allegedly attempted to run over a law enforcement officer. Critics of the previous administration have called for accountability for ICE agents in related shootings, which ultimately led to a significant increase in ICE presence in Minneapolis, igniting protests in the area.
