Bill Ackman has had a pretty amazing few months, punctuating what has been a really magical couple of years in which he went from rock bottom to being just about the best-performing hedge fund manager in the land, capable of turning $27 million into $2.6 billion and the confidence to delve back into the restaurant industry now, of all times.

And it’s a good thing, too, because if he weren’t in such a good place right now, this might well have sent him over the edge.

Herbalife Nutrition Ltd will likely pay U.S. authorities $123 million to settle bribery allegations related to the company’s business in China, a regulatory filing showed on Thursday…. The bribes were intended to help Los Angeles-based Herbalife obtain direct selling licenses, reduce government scrutiny of its Chinese operations, and suppress negative coverage by state-controlled media, authorities have said.

That’s right: Two more government agencies have looked into his allegations against the diet shake company and found him to be spot on, fraudulence which have cost it $323 million in fines but which, in their failure to bankrupt the company, cost Ackman $1 billion in losses. One can thankfully only imagine what this news would have done to an early 2018 Ackman, before he found love again and got his groove back.

Herbalife to pay $123 million to settle China bribery allegations [Reuters]
Bill Ackman looks to find another winner in restaurants, where his track record is perfect [CNBC]

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