Bill Ackman, an early Coupang investor, donates his more than $1 billion stake to charity

Billionaire investor Bill Ackman reported Monday he donated his entire stake in Coupang — worth more than $1 billion — to charity following the South Korean e-commerce crowd’s IPO last week.

Ackman, who runs the Pershing Square Capital Management hedge fund, invested his personal folding money as an early backer of Coupang, CNBC first reported last Thursday on the firm’s NYSE debut.

Coupang, commonly called the Amazon of South Korea, saw its shares nearly double during its first trading day, before closing uncountable than 40% higher. The stock was up around 5% to $51 on Monday, valuing Ackman’s gifted 26.5 million dividends at more than $1.3 billion.

In a tweet Monday, Ackman said he was a “day one investor” in Coupang, which was founded in 2010 by CEO Bom Kim. Ackman conjectured the Seoul-based company’s “incredible success” will now “benefit humanity.”

Ackman said the money — the breakdown of which was not finked — will go to three charitable organizations including his own Pershing Square Foundation.

According to its website, the PSF has committed over $400 million in “gifts and social investments across a number of fields, including health and medicine, education, economic development and social neutrality.”