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Crimson Connections: William A. Ackman ’88 and Paul C. Hilal ’88

By Ryan N. Gajarawala, Andrew W. Liang, and Samuel W. Zwickel

Two decades before their careers converged as activist hedge fund managers, William A. Ackman ’88 and Paul C. Hilal ’88 were arguing about everything, including the physics of weightlifting in a Harvard gym. Bill recalls that he was always right. He would not have submitted a timely Social Studies thesis, however, without a kick from Paul. The Lowell House roommates — who came to invest billions together at Pershing Square Capital Management — first met in their house dining hall after an introduction by a mutual friend. They reflect on finding fulfillment in finance and in the company of one another. Filmed October 15, 2020.

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