Billionaire investor Bill Ackman has admitted that the debate conspiracy he heavily promoted in the aftermath of the September ABC presidential debate was false. Ackman, CEO of Pershing Square Capital Management, had shared claims that alleged a “whistleblower” exposed a secret collusion between ABC and Democratic candidate Kamala Harris’ campaign. According to these claims, Harris had been given debate questions in advance, while special fact-checking rules were allegedly applied only to her opponent, Donald Trump.

Ackman initially expressed his support for the accusations, which were first posted by an X account named “Black Insurrectionist” and further amplified by the website Leading Report, notorious for sharing misinformation. On September 15, Ackman shared the post with his 1.4 million followers on X (formerly Twitter), claiming that if the allegations were proven true, it would be a significant blow to ABC’s journalistic integrity. Ackman continued to demand transparency from Disney CEO Bob Iger, even after ABC News quickly refuted the allegations.

Despite the network’s denials, Ackman doubled down for days, making the supposed whistleblower story his main focus. He called for investigations and urged Disney’s leadership to take action. However, as time passed, it became clear that the entire narrative was unfounded. The supposed whistleblower’s affidavit, filled with redactions and typographical errors, failed to provide any concrete evidence.

A month after...

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