Bill Ackman earned a Bachelor of Arts degree magna cum laude in social studies from Harvard College in 1988, followed by a Master of Business Administration degree from Harvard Business School in 1992. Upon graduation, Ackman co-founded Gotham Partners in 1992 with David P. Berkowitz, an investment firm that managed to grow its assets under management to $500 million by 1998. During this period, Ackman notably engaged in a bid for Rockefeller Center in 1995 alongside Leucadia National.

More recently, Ackman made a significant philanthropic contribution in 2021, donating 26.5 million shares in Coupang, valued at $1.36 billion, to various charitable entities. In 2024, he stepped down from the board of Howard Hughes Holdings. The same year, Ackman also withdrew the initial public offering for Pershing Square USA, showcasing his ongoing strategic navigation of capital markets.