Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Ackman gives $17 million to Harvard

Bill Ackman
Scott Eelis | Bloomberg | Getty Images

Bill Ackman wants the world to have a better understanding of why people act the way they do.

Harvard University announced Monday that The Pershing Square Foundation, founded by hedge fund manager Ackman and his wife, Karen, who are both alums, awarded the school $17 million to establish three endowed professorships and establish a $5 million research venture fund for Harvard faculty and students, according to a university press release.

The Ackmans' funding will go toward Harvard's Foundations of Human Behavior Initiative. Its goal is to "drive transformative insights about the psychological, social, economic, and biological mechanisms that influence human behavior, and then help translate that new knowledge into mechanisms for improving human well-being across the world," according a statement by the school.