Bill Ackman, the activist investor famous for his high-profile battle with Herbalife, claimed his short position on the stock was "the most philanthropic investment I have ever made" on CNBC Wednesday.
Ackman and his investment company, Pershing Square Capital Management, shot to prominence when it shorted the vitamin supplement company. Ackman has been in a high-profile battle with its management since 2012, when he made his $1 billion short position public and accused management of running a pyramid scheme.
Investors initially shrugged off his claims, which are being investigated by the U.S.'s Federal Trade Commission, and the stock rose, boosted by support from fellow activist investor Carl Icahn. The company and Icahn have long disputed Ackman's claims.
However, Herbalife's share price has sunk recently, and Ackman said he is "in the money today" on the high-profile bet.