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Fortune

Nick Lichtenberg

Bill Ackman agrees with Jeff Bezos: Being a great CEO can do more for the world than philanthropy

Bill Ackman Jeff Bezos Philanthropy Fortune Lauren Sanchez Bezos Zohran Mamdani

ackman (Credit: Alex Fradkin for Fortune)

Bill Ackman has spent roughly two decades and close to $1 billion on philanthropy. His verdict: Capitalism can often have a stronger societal impact.

“I’ve spent a fair amount of time on philanthropy, and it’s vastly less efficient at solving problems than capitalism,” the Pershing Square Capital Management founder and CEO told Fortune editor-in-chief Alyson Shontell in an interview for the Fortune 500: Titans and Disruptors of Industry series. “You create far more jobs through capitalism than through philanthropy.”

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