Ackman, best known for being an investor in Google and Chipotle, contended that this election cycle is one of the few times in the nation’s history where voters can do “an A-B comparison” between the two presidential administrations and said the United States was better off under former President Donald Trump’s leadership. During his argument, Squawk Box co-host Andrew Ross Sorkin interjected that Trump is constantly criticizing Google ahead of the election, asking Ackman how he felt about this given how he has purchased stocks of the company.

“I’m here because, as an American citizen, I think it’s in the best interest of the country for Trump to be the president versus Kamala Harris, and if it causes harm to a company I have an investment in, so be it,” Ackman said.

.@BillAckman outlines the reasons why he’s supporting @realDonaldTrump, ranging from foreign policy to leadership strength: pic.twitter.com/t5WV0tU7yn

— Squawk Box (@SquawkCNBC) October 23, 2024

Ackman then argued that Trump is serious about his desire to end the war between Ukraine and Russia, suggesting that Russian President Vladimir Putin also wants it to end because it has been a “disaster” for Russia. He also expressed doubt when picturing Vice President Kamala Harris negotiating peace with Putin, whereas Trump has been “a deal-maker” for most of his life.

“There’s a reason why the world was a safer place: because the dictators feared Trump,” Ackman said. “And Trump says, ‘Look, if you step into Ukraine, I’m going to bomb Moscow,’ let’s assume he would say something like that. Putin would take that kind of thing seriously from him. He wouldn’t know whether he was serious or not.”

Beyond his support for Trump’s foreign policy, Ackman also spoke favorably of the former president’s leadership on immigration and the economy. Ackman explained that inflation has been “catastrophic” for people, suggesting that the inflation crisis has been driven by “a lack of understanding of economic policy.”

Amid his support for Trump, Ackman also claimed that the best-case scenario for the Democratic Party in this election cycle would be “a massive loss,” which would cause “a reboot” in the party’s leadership.

Ackman endorsed Trump in July shortly after the former president survived the first assassination attempt against him, though the billionaire has not donated to Trump’s campaign. Conversely, fellow billionaire Elon Musk, who has also endorsed Trump, has transferred $75 million to his America PAC, which is campaigning for the Republican nominee. Musk has also been giving away a daily $1 million prize to registered voters in swing states.

Paul Tudor Jones, the billionaire investor behind the Robin Hood Foundation, said Tuesday on CNBC that while he is preparing for Trump to win this election, he is opting not to reveal who he is voting for. Jones’s secrecy stems from his involvement with multiple causes and works “with people on both sides,” as well as how divided the nation is.