Inside Bill Ackman’s $35b fund, even janitors and receptionists own millions
Billionaire investor Bill Ackman says every employee at his hedge fund, Pershing Square, owns company stock worth millions of dollars — from senior investment staff to receptionists and cleaners. Ackman said the broad-based ownership model is a key part of the firm’s workplace culture and has helped Pershing Square retain its employees. Speaking on Fortune’s Titans and Disruptors of Industry…
At Pershing Square, the $35 billion hedge fund managed by billionaire investor Bill Ackman, every employee, regardless of their position, owns stock worth millions in the company. From senior investment staff to receptionists and cleaners, all 48 employees of the 48-person firm have a stake in Pershing Square's success. Ackman believes in the importance of taking care of employees, providing flexible work arrangements and extensive benefits.
Employees typically work five days a week, but have more flexibility during July and August. During these months, the investment team often collaborates from the Hamptons, staying in rented or owned homes. In addition to employee ownership, Pershing Square offers healthy meals, gym access, and comprehensive healthcare benefits. Ackman attributes the firm's low employee turnover, which has not included any "undesired departures," to this employee-centric approach.
He also stresses the importance of hiring talented individuals with strong human qualities, as he believes this combination fosters a positive company culture. With a focus on artificial intelligence, Ackman envisions the technology transforming sectors like education and healthcare by making complex information more accessible.
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