A secretive tycoon known as the ‘French Murdoch’ holds the key to Bill Ackman’s $64 billion bid for Universal Music Group

Activist investor Bill Ackman has his sights set on Universal Music Group, and he’s launched a complex $64 billion proposal for the label behind Bad Bunny, Taylor Swift, Paul McCartney and a long list of other superstars. 

To get his hands on the prize though, Ackman will first have to contend with another big personality: Vincent Bolloré, the 74-year-old secretive French billionaire who controls 28% of Universal through a complex web of holdings.

Known as the “French Murdoch” for building a $14 billion...