Key facts
- Billionaire hedge fund investor Bill Ackman is donating $400 million to establish the Ackman Oxman Institute (AOI).
- The donation follows his daughter Lucy's severe brain hemorrhage, which left her in a coma.
- The AOI will focus on brain research, rehabilitation, recovery, human optimization, and longevity.
- The institute will be based in a 400,000 square foot building in Manhattan.
- Ackman plans for the non-profit to have 'commercial instincts' and include a venture capital arm.
American billionaire Bill Ackman is donating $400 million to establish a new brain research institute, named the Ackman Oxman Institute (AOI), following a severe brain hemorrhage suffered by his daughter, Lucy.
Ackman, founder of the prominent Perishing Square hedge fund, detailed his daughter's ordeal on X, describing how she was found unconscious and later diagnosed with a massive hemorrhage requiring surgery. The AOI, based in Manhattan, will be a non-profit dedicated to brain research, rehabilitation, recovery, human optimization, and longevity, with a focus on patient outcomes rather than purely academic pursuits.
The institute will occupy a 400,000 square foot building, part of which is being repurposed from the studios that host 'Saturday Night Live.' Ackman emphasized that the AOI will operate with 'highly commercial instincts,' including a venture capital arm to fund and spin out developed treatments and medications. He also noted the significant role advancements in artificial intelligence will play in accelerating the institute's mission.