Former Vice President Joe Biden told a hedge fund manager to "shut the hell up" during a verbal altercation at a recent private dinner, according to a report Friday.

Fox Business reported Biden and financier Bill Ackman began arguing at the SkyBridge Alternatives Conference, a popular Wall Street gathering held in May, after the former vice president explained why he didn't run against Hillary Clinton in the 2016 election.

During a private VIP dinner, former Florida governor and GOP presidential candidate Jeb Bush asked Biden why he didn't run.

Fox Business recalled the following conversation based on the account of three people who were in the room.

Biden said part of his decision stemmed from the death of his son, Beau, in 2015 of brain cancer.

Biden became emotional, and said: "I'm sorry ... I've said enough."

Ackman then said to Biden: "Why? That's never stopped you before."

Biden, responded by asking someone seated near him, "who is this asshole?" a reference to Ackman.

Then he confronted Biden directly, saying: "Look, I don't know who you are, wiseass, but never disrespect the memory of my dead son!"

As Ackman tried to apologize Biden said, "just shut the hell up."

A spokesman for Ackman disputed "the idea that there was an argument or altercation between Joe Biden and Bill Ackman."

"Bill had a great time at the dinner and enjoyed spending time with the former vice president," the spokesman told Fox Business.