Bill Ackman made a multi-thousand-word post on X disclosing a family company scandal as he wanted X users to comment on it while making his stand also clear that he won't settle a lawsuit brought against his company by a former employee whom he fired and who is now bringing allegations of harassment against Ackman's nephew. The post which read almost like a novel went viral as several high-profile personalities like Elon Musk, Chamath Palihapitiya, Donald Trump Jr. reacted ti his stories and supported Ackman's stand to fight it out.
Long story short: At the center of this lawsuit is his private family office TABLE which was founded 15 years ago to handle his personal finances. The company grew big and the expenses ballooned while he was busy with his other companies. Late last year, he brought his nephew, a Harvard grad, to look into the company. The nephew spoke to the employees and suggested laying off one-third of the staff, including the president. The in-house lawyer of the company and one of the highest paid employees, whom Ackman called 'Ronda' for convenience in understanding, demanded two years' severance and then sent a threatening letter from a Silicon Valley lawyer alleging unsafe workplace, harassment and gender discrimination by the nephew.
