Billionaire investor Bill Ackman pitched Elon Musk to move Tesla's HQ to a Howard Hughes community. Here's why.
. He asked Musk to "please take a close look" at Howard Hughes' Summerlin community in Nevada, highlighting its proximity to Tesla's Gigafactory in the state. He added that if Musk changes his mind about owning a home, Summerlin boasts a luxury community that could suit him.
Ackman stands to benefit if Musk moves Tesla's base to a Howard Hughes community. His fund, Pershing Square, boosted its stake in Howard Hughes more than five-fold to 12.2 million sharesThe hedge-fund chief may be especially eager to attract Tesla given Howard Hughes' current challenges.
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