Billionaire Bill Ackman has wanted to use Howard Hughes Holdings to create a modern-day Berkshire Hathaway. After two unsuccessful attempts at making a deal, Ackman and Howard Hughes have agreed to terms.

Howard Hughes Holdings Inc.’s stock rose Monday as billionaire Bill Ackman reached a final agreement to acquire a controlling interest in the real-estate-development company that he plans to turn into a modern Berkshire Hathaway.

Warren Buffett's headed Berkshire Hathaway for six decades. See what he could have done with $10,000 in that time.