--Billionaire investor William Ackman said during an interview on CNBC's "Squawk Box" that credit card giant Visa Inc. has the power to pressure Pornhub, which is operated by parent company MindGeek, to remove child pornography from its site.

--The Pershing Square CEO said he has no economic stake in Visa, Mastercard Inc. or any payments company. Mr. Ackman said he offered to help finance lawsuits philanthropically against Visa.

--A Visa spokesperson told CNBC that the payments giant condemns sex trafficking, sexual exploitation and child sexual abuse materials.


Full story at https://www.cnbc.com/2022/08/02/bill-ackman-blasts-visa-saying-it-has-the-power-to-pressure-pornhub-to-remove-child-pornography.html


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

08-02-22 1315ET