Bill Ackman's Pershing Square rewards staff with equity, flexible summer work

Bill Ackman's Pershing Square, managing about $35 billion, provides its roughly 48-person workforce with substantial equity, ensuring that even janitors and receptionists own multiple millions in stock. Employees must be on-site five days a week for most of the year, yet during July and August they may work remotely, often joining the investment team in rented or owned homes in the Hamptons. The firm supplements financial incentives with perks such as healthy meals, gym facilities and full-coverage health plans.

Ackman attributes the firm’s low turnover to this culture of ownership and personal character, noting that no employee has left against their will. He also highlights AI as a future competitive edge for both the firm and its staff. Pershing Square’s success includes stakes in companies like Chipotle, Universal Music Group and J.C. Penney, and it listed on the Amsterdam Stock Exchange in 2014.