Hedge fund titan Bill Ackman on Wednesday raised $4 billion in an IPO on the New York Stock Exchange. But it wasn’t for a company, or even for the firm that controls his hedge funds. It was for something called a SPAC, and it was the largest SPAC IPO of all time.
Axios Re:Cap digs into Wall Street's latest craze with Ackman, who was ahead of his time in 2012 when he used a SPAC to bring Burger King public.
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In a deeply reported article on "How Trump's Billion-Dollar Campaign Lost Its Cash Advantage," the N.Y. Times' Shane Goldmacher and Maggie Haberman found some unusual spending by the Trump campaign.
Why it matters: Money concerns are very real for President Trump's campaign — an unusual predicament for a sitting president, and one that worries veteran Republican operatives.
