Billionaire investor Bill Ackman has expressed his belief that President Joe Biden should step aside and not seek reelection, stating that he is "impressed" by a Democratic congressman who launched a primary challenge against Biden. Ackman, the founder of Pershing Square Capital Management, made these comments during an interview with Bloomberg Television's "The David Rubenstein Show: Peer-to-Peer Conversations."

While Ackman acknowledges that Biden has accomplished many positive things, he argues that the president's legacy would be tarnished if he were to become the Democratic nominee in the next election. Ackman urges Biden to cede the opportunity for competition and pave the way for fresh leadership within the Democratic Party.

Speaking about his meeting with Congressman Dean Phillips (D-Minn.), who initiated the long-shot primary challenge against Biden, Ackman stated that he was "impressed" by the lawmaker's intellect. He went on to explain that he believes Biden is no longer at his "intellectual best" and is past his "physical and cognitive peak," without intending any disrespect towards the president.

Furthermore, Ackman disclosed his increasing openness to supporting Republican candidates rather than reelecting Biden. He specifically mentioned former South Carolina Governor Nikki Haley and former New Jersey Governor Chris Christie as potential candidates he favors. Ackman's donation history also indicates his recent disappointment with biotech entrepreneur Vivek Ramaswamy's geopolitical policies, which he deemed too far right.

The age and capability of President Biden have been recurring subjects of criticism throughout his presidency. At 81 years old, Biden is the oldest U.S. president, and if reelected in 2024, he would reach 86 by the end of his second term. Ackman's remarks align with these concerns, as he joins a growing chorus of voices questioning Biden's ability to carry out a second term effectively.

Meanwhile, Congressman Phillips, who launched his presidential bid with the intention of urging Biden to "pass the torch" to a younger generation, has garnered some support. According to a Yahoo News/YouGov poll conducted earlier this month, over half of Democrats expressed a desire to see another Democrat challenge Biden. However, despite this, Biden maintains a comfortable lead, with 64 percent of Democrats saying they would back him.

Earlier this month, former President Barack Obama's senior adviser David Axelrod also hinted at the idea of Biden stepping aside. Axelrod later clarified that poor polling numbers months ahead of the election do not worry him, and he even suggested that Biden has a "50-50 shot" at winning in 2024.

Bill Ackman left the door open to his own political future, expressing his openness to a potential candidacy if the country were to call upon him. He emphasized that he would wait for the country to request his leadership rather than actively seek political office.

The full interview with Bill Ackman will be released on Bloomberg Television on December 6 at 9 p.m.