Bill Ackman

Factual · Economics and markets

“We created it out of the bankruptcy of General Growth.”

Bill Ackman, interviewee · 1 October 2026 · Transcript of Bill Ackman Interview: All-In Liquidity 2026 (Singju Post)

Howard Hughes was created out of the bankruptcy of General Growth as a spinoff of its other assets.

Resolved true The record shows it happened or was so.

Said for an organisation they lead or work for; it counts on both records.

What would count as true or false

TRUE: Howard Hughes Corporation was formed and spun off from General Growth Properties as part of GGP's Chapter 11 reorganization, taking assets outside GGP's core malls such as master-planned communities and development properties. Pershing Square's role in the plan supports Ackman's phrase 'we created it' but is not required. MOSTLY TRUE: it was spun off at GGP's emergence from bankruptcy, with a minor detail wrong, such as which assets it received. MOSTLY FALSE: it was spun off from GGP but not as part of the bankruptcy reorganization. FALSE: it was not created from GGP.

Evidence

1. SEC.gov | HOME U.S. Securities and Exchange Commission (Form 8-K filed by The Howard Hughes Corporation) · 9 November 2010

   “On November 9, 2010, The Howard Hughes Corporation (the “Company”) was spun off from General Growth Properties, Inc. (“GGP”) in connection with a plan of reorganization filed by GGP and certain of its subsidiaries under Chapter 11 of the U.S. Bankruptcy Code”

2. SEC.gov | HOME U.S. Securities and Exchange Commission (Form 8-K filed by The Howard Hughes Corporation) · 9 November 2010

   “In connection with the Separation, GGP transferred to the Company the assets and liabilities comprising the Company’s master planned communities and real estate development businesses.”

3. News | General Growth, Split Into Two Companies, Emerges from Historic Bankruptcy CoStar News · 11 November 2010

   “General Growth Properties Inc. (NYSE: GGP) emerged from Chapter 11 restructuring this week, along with Howard Hughes Corp. (NYSE: HHC), a separate publicly traded company spun off by GGP consisting of the former company's portfolio of master-planned communities and other development opportunities.”

Reasoning

Howard Hughes Corporation's 8-K filing says the company was spun off from GGP on November 9, 2010, in connection with GGP's Chapter 11 plan of reorganization (E1). The same filing says GGP transferred its master planned communities and real estate development businesses to the new company (E2). A CoStar report from the time independently confirms that HHC was spun off as GGP emerged from Chapter 11, holding master-planned communities and other development opportunities (E3). That meets the TRUE criterion.

Cite this claim

Bill Ackman, “Howard Hughes was created out of the bankruptcy of General Growth as a spinoff of its other assets.” (said 1 October 2026). Verdict: resolved true. Reliability API, claim c_1fb3bb38aa00, method 0.1.0+c876030c. https://epistacklabs.com/claims/c_1fb3bb38aa00