American billionaire Bill Ackman plans to donate $400m (£292m) to brain research after his daughter suffered a haemorrhage that left her in a coma. The investor, known for his Perishing Square hedge fund, announced the donation to a newly established research institute named after him and his wife, Neri Oxman.
Ackman's daughter, Lucy, suffered a stroke earlier this year, which has left her unable to speak, see, or walk. In a post on X, Ackman described how his daughter was found unconscious in her New York apartment, and doctors later discovered a "massive" haemorrhage during a brain scan.
The Ackman Oxman Institute (AOI), a Manhattan-based non-profit, was established in the wake of this experience. It aims to become a leading institute for brain research, rehabilitation, recovery, human optimisation, and longevity, focusing on patient-related outcomes.
The $400m donation will be made in the form of 10m shares in Ackman's New York-listed Perishing Square hedge fund. The institute will be located in a 400,000 square foot building in Manhattan, part of which is planned to be repurposed studios that currently host Saturday Night Live.