The article I linked in #13 says that the $700MM short sale came out of the hedge fund he manages and that the fund is taking the hit while the price stays high.
'Any money he makes on this bet will go to charity, with $25 million slated for Sohn regardless of how it turns out.
'Why not make a ton of money and use just some of it for a good cause, as Ackman normally does? Because profiting from Herbalife’s alleged exploitation of its distributors feels like “blood money,” Ackman said. His goal: to let the Federal Trade Commission take this research and shut the company down. '