Bill Ackman has his sights set on being this generation's Warren Buffett. Though the activist turned long-term investor is hesitant to say he thinks he will be the next Oracle of Omaha. "Warren's an icon,

Howard Hughes Holdings Inc.’s stock rose Monday as billionaire Bill Ackman reached a final agreement to acquire a controlling interest in the real-estate-development company that he plans to turn into a modern Berkshire Hathaway.

Bill Ackman has created a new acquisition machine, fulfilling his long-standing aspiration to create a conglomerate in the image of Warren Buffett’s Berkshire Hathaway, he announced on Monday.