Skip to main content

Tax Breaks Are Nice, But Bill Ackman Would Just As Soon Directly Profit From Public Education

Could those kids in the Bronx use that 10% he’s making on them a year? Sure, but so could Bill Ackman.
  • Author:
  • Updated:

For the hedge fund managers that flock to them, charter schools are an almost perfect charitable racket. By imposing the will of wealthy white men onto poor children of color, they are able to live out the kind of Randian fantasy social experiment they dream about but which is rarely political possible or legal to achieve. And the money they give to the charter school foundations they essentially control also gives them access to the highly-lucrative New Markets Tax Credit. Oh yea, and they can collect interest on the money they’ve donated. It’s perfect. But it’s not enough for Bill Ackman.


Since 2011, the billionaire hedge fund manager has invested $20 million of his own money in the Turner-Agassi Charter School Facilities Fund, which was started by former tennis star Andre Agassi and has built 79 new charter schools in poor neighborhoods around the country. The impact investment, which Ackman made via his charitable foundation, has netted annual returns north of 10%....

“Over time, as the foundation worked with lots of non-profits, I became more and more enamored with capitalism as a solution for solving problems,” says Ackman, 52. Now, when his foundation has a choice between investing in a for-profit enterprise and donating to a non-profit, both of which are tackling the same issue, the decision is an easy one. Ackman bets on the capitalist.

This is transparently kind of gross and unseemly, even for a man who’d make Mike Bloomberg benevolent dictator for life. On the other hand, he could really use that 10% return.

[ed . note: We are aware that Bill Ackman does not in fact pocket the profit made from his charitable investment. The headline and overall tone of the fawning Forbes article made a satirical inference of that notion easy for us to make, and that is the thrust of this post. Also, we love explaining our humor.]

The Easiest Money Bill Ackman Has Made Lately Is In A Bunch Of Charter Schools [Forbes]



Bill Ackman Finds Actual Can’t-Miss Investment

When others short Bill Ackman, he goes long!

It's morning again in America. CC BY-SA 2.5], via Wikimedia Commons

Bill Ackman Invests In The American Dream, Which In Turn Pays For His Dreams

The Ackmanaissance comes to the perfect capitalist fantasy.


Bill Ackman Starts Over

Who’s ready to pony up $100K for Ack Act VI?


Bill Ackman Should Agitate For Split, Sale Of Bill Ackman Fund

There’s a ton of value to unlock in Pershing Square Holdings if you just sell all of those holdings.



Bill Ackman has another bold numerical prediction.


Bill Ackman Pulled An All-Nighter

And, in his ADP nominees, it shows.

Bill Ackman Giveth And Bill Ackman Taketh Away

Bill is really putting the "Ack" in Ackman these days.


Who Is Bill Ackman Trying To Fool?

Ackman the saint vs. Ackman the sanctimonious.