Billionaire hedge fund manager Bill Ackman recently revealed his latest multibillion-dollar investment: mobility technology leader Uber ( UBER -2.14%). According to a social media post by Ackman, Pershing Square Capital Management (the hedge fund he oversees) owns 30.3 million shares of the company.

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Ride-hailing group is ‘one of the best managed and highest quality businesses in the world’, activist investor says.

Last week, the stock of Uber Technologies went on a wild ride, falling hard after Uber reported earnings on Feb. 5, only to rocket higher toward the end of the week. On earnings, while revenue and earnings per share actually beat expectations,

Uber stock hit its highest level since October after Ackman disclosed his Pershing Square hedge fund accumulated a 1.4% stake in the ride hailer.

Bill Ackman has amassed a roughly $2.3 billion stake in Uber, saying in a post on X that the ride-hailing company's stock is undervalued. Ackman said Friday in the post that his Pershing Square invest

Billionaire Bill Ackman, the CEO of Pershing Square Capital Management, is known for investing in cash-flowing consumer stocks and making contrarian bets.

The Pershing Square CEO said he's admired the ridesharing giant since actor Edward Norton introduced him to the app in its early days.