#413 – Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech

3652.199 - 3673.621 Bill Ackman

Yes. So activists generally never own more than 5% or 10% of a business. So they don't have control. Right. So the way they get influence is they have to convince the other, you know, they have to get to sort of a majority of the other shareholders to support them. And if they can get that kind of support, they can behave almost like a controlling shareholder. And that's how it works.