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Bill Ackman's secret to retaining talent: stock and Hamptons summers

Bill Ackman's secret to retaining talent: stock and Hamptons summers
Bill Ackman’s secret to retaining top talent? Millions in stock and summers in Hamptons · livemint.com

Bill Ackman runs a big money company called Pershing Square.

The company takes care of about 48 people who work there.

Everyone who works at Pershing Square owns lots of the company's stock, worth many millions of dollars — even the cleaners and front desk workers.

Ackman believes in looking after his people so they do not want to work anywhere else.

Workers come to the office five days a week for ten months of the year.

In July and August, the whole investment team moves to the Hamptons, a beach area, and works from homes.

The company also provides healthy food, a gym, and good health benefits.

Ackman says no worker has ever left in a way the company did not want.

He started Pershing Square in 2004 after an earlier company, Gotham Partners, shut down.

He thinks artificial intelligence could be the next big advantage for businesses.

Key facts

Fund name
Pershing Square Capital Management
Assets under management
About $35 billion
Number of employees
48 (no undesired departures)
Stock ownership
Each employee owns multiple millions of dollars in company stock
Office policy
Five days a week in the office for 10 months a year
Summer perk
July-August: investment team works from the Hamptons
Founded
2004 by Bill Ackman
Stock exchange listing
Amsterdam Stock Exchange (2014)

Quotes

Bill Ackman

Founder and CEO of Pershing Square

“There’s not a person at Pershing Square that doesn’t own multiple millions of dollars of stock in the company—whether you’re cleaning the space or at the front desk or another role in the company.”
livemint.com
“We look after people, and so that when you operate that way, people don’t think about going anyplace else.”
livemint.com

Sources

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