Early Life and Education
William Albert Ackman was born on May 11, 1966, in Chappaqua, New York. His father was the chairman of a real estate financing firm. Ackman graduated from Horace Greeley High School in 1985. He received a Bachelor of Arts degree magna cum laude in social studies from Harvard College in 1988, where his thesis focused on the experience of Jewish and Asian American students in Harvard admissions. In 1992, he earned a Master of Business Administration degree from Harvard Business School.
Rise to Success
Ackman's career began with co-founding Gotham Partners in 1992. However, his most significant impact came with the founding of Pershing Square Capital Management in 2004. Through Pershing Square, Ackman has become known as an activist investor, taking significant stakes in companies and advocating for changes. His investment style involves taking large positions based on in-depth analysis and conviction. Ackman's investment in Canadian Pacific Railway is one of his most celebrated successes. He also made significant profits from a credit protection hedge during the 2020 market crash.
Key Business Strategies
Ackman is known for his activist investing approach, where he takes substantial positions in companies to influence management and strategy. His strategy includes in-depth fundamental analysis and a willingness to take on high-profile, and sometimes controversial, positions. He uses hedging strategies to mitigate risks, as seen during the COVID-19 pandemic. Pershing Square focuses on a concentrated portfolio of primarily North American companies with predictable cash flows.
Philanthropy
Ackman is a signatory of The Giving Pledge, committing to donate at least half of his wealth to charitable causes. He and his then-wife, Karen, founded the Pershing Square Foundation in 2006. The foundation has committed over $750 million in grants to more than 100 organizations, focusing on economic development, education, healthcare, and human rights. In March 2021, Ackman donated $1.36 billion in shares of Coupang to his foundation.