Bill Ackman DEI and the War Over Corporate Governance

Bill Ackman's emphasis on DEI has sparked a heated debate over corporate governance. He's been vocal about the need for more diversity, equity, and inclusion in the boardroom.

Ackman has made it clear that he believes companies should prioritize DEI when evaluating potential board members. In fact, he's stated that a diverse board is more likely to make better decisions.

The war over corporate governance is not just about DEI, but also about the role of activists like Ackman in shaping company policies. Ackman's Pershing Square Capital Management has been known to take an active role in pushing for change at the companies it invests in.

Ackman's approach has been criticized by some who argue that it's too aggressive and can lead to short-term thinking. However, Ackman remains committed to his vision of a more inclusive and equitable corporate landscape.

Bill Ackman has been using the same playbook since October, writing detailed and lengthy public letters to Harvard's governing board, which he shares with his million-plus followers on X.

He has also written letters to M.I.T.'s governing board, advocating for the removal of the university's president, Sally Kornbluth.

Ackman has been meeting with students and faculty at Harvard, and has done live interviews with CNBC about his latest crusade.

He has declined several requests for an interview with NPR.

Ackman believes academia has lost its way, and has broadened his critique from Harvard's president reacting to student protests to denouncing how academic institutions address antisemitism.

He has attacked public policy, including DEI, saying "Racism against white people has become considered acceptable by many not to be racism."

Ackman has called on Harvard to shutter its Office for Equity, Diversity, Inclusion, and Belonging, saying "DEI is racist."

He has also criticized the media, exhaustively detailing how he attempted to get board members and executives to remove articles from Business Insider's site after the publication identified a pattern of plagiarism in academic writings by his wife, Neri Oxman.

Ackman is planning to sue Business Insider and its parent company, Axel Springer.

Related reading: Bill Ackman Business Insider

The Herbalife controversy was a six-year battle for Bill Ackman, who bet $1 billion against the company in 2012, calling it a pyramid scheme.

Ackman's elaborate three-hour presentation was just the beginning of a scorched-earth campaign to convince other investors and regulators he was right.

Ackman's rival investor Carl Icahn disagreed with his assessment and even went as far as to call him a "crybaby in the schoolyard."

Icahn revealed that he had made the exact opposite bet, purchasing more than 13% of Herbalife shares.

Ackman lost a lot of money on that wager, but he held on to the fight for years, even as it became clear that the odds were against him.

Ackman's handpicked candidates won, and together, they engineered a corporate turnaround.

Expand your knowledge: Bill Ackman Herbalife Loss

Bill Ackman has been using his wealth and influence to sway presidential hopefuls, donating to several candidates, including Robert F. Kennedy, Jr., former Gov. Chris Christie, and Vivek Ramaswamy.

He recently threw his support behind Rep. Dean Phillips, a Minnesota Democrat, pledging $1 million to support Phillips' campaign against President Biden.

Ackman is a Harvard alumnus, and his influence extends beyond politics, with a presence on Wall Street and as an investor.

Ackman has also been involved with the University of Pennsylvania, and has a background in business, having engaged in short selling.

Here are some of the candidates Bill Ackman has donated to:

Bill Ackman, a 57-year-old hedge fund manager, has written a lengthy post on X blasting Harvard's diversity policy.

He claims that Harvard's DEI (Diversity, Equity, and Inclusion) policy is racist.

Ackman argues that the E in DEI stands for equality of outcome, not equality of opportunity.

He believes that under DEI ideology, any policy or system that leads to unequal outcomes among people of different skin colors is deemed racist.

Ackman specifically criticizes Harvard's diversity policy, saying it has led to unequal outcomes and is therefore racist.

He also claims that under DEI ideology, capitalism, Advanced Placement exams, IQ tests, and corporations are all deemed racist.

Ackman's criticism of Harvard's diversity policy comes after the university's first Black president, Dr. Gay, quit just six months into the job.

For your interest: Bill Ackman on Harvard

Bill Ackman's Public Appearances are a crucial part of his investment strategy and public image.

He has been a regular speaker at the Sohn Conference, a prestigious investment conference in New York City.

Ackman has also made appearances on CNBC, sharing his investment insights and opinions with a wide audience.

In 2012, he delivered a 45-minute presentation at the conference, which was widely covered by the media.

Ackman has been known to use public appearances to promote his investment ideas and companies, such as Pershing Square Holdings, his investment firm.

He has also used these platforms to criticize companies he believes are undervalued or mismanaged, like Herbalife.

A different take: Bill Ackman Investment Strategy