Fortune 500: Titans and Disruptors of Industry

Pershing Square Founder and CEO Bill Ackman got his start by cold-calling multi-millionaires and billionaires for startup capital. Today, the billionaire hedge fund manager is a leading voice both on Wall St. and online, where he frequently shares candid opinions about investing, politics, and culture to about 2.7 million X followers.

In this episode, Fortune’s Editor-in-Chief Alyson Shontell speaks with Ackman about his insights into today’s market, how he recovered from a multi-billion dollar loss, and his perspectives on President Trump and American politics.

Chapters

00:00 Cold Open

01:08 Advertisement

03:19 Ackman’s market insights

05:06 Why Ackman loves Uber

07:38 SpaceX, Anthropic, OpenAI IPOs

11:33 Ackman’s polarizing online presence

15:02 President Trump and Trump Accounts

18:13 Effective philanthropy

27:01 Becoming Bill Ackman

31:41 Cold-Calling the Forbes 400

35:03 Ackman’s biggest wins

40:52 Investing like Buffet

44:34 Ackman’s biggest losses

52:11 Pershing Square’s company culture

56:32 What’s next for Bill Ackman
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For the first time in the company's history, FedEx has surpassed UPS in market value. Handling roughly 18 million packages a day, FedEx is acutely aware of how tariffs and geopolitical tensions have disrupted the global supply chain. As it enters its AI era, the company is leveraging artificial intelligence to predict and address these obstacles head-on.

In this episode, Fortune Editor-in-Chief Alyson Shontell sits down with FedEx CEO Raj Subramaniam to discuss how AI is transforming logistics, how tariffs, geopolitical tensions, and shifting manufacturing hubs are reshaping global supply chains, and what's next for one of the world's largest transportation companies.

00:00 Introduction
01:08 How FedEx Sees the Global Economy
06:21 How a Package Travels Around the World
08:21 Leading 500,000 Employees
16:54 From Entry-Level Analyst to CEO
20:24 Leading Change at FedEx
21:43 Reinventing a 50-Year-Old Company
28:20 Why FedEx Is Betting Big on AI
33:17 The Future of Autonomous Delivery
38:51 Leadership Advice for the Next Generation of CEOs
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For more than 100 years, TIAA has helped millions of Americans — from educators to healthcare workers to public servants — turn their savings into guaranteed income they cannot outlive. Today, the company is expanding beyond its traditional 403(b) roots, pioneering lifetime income solutions inside 401(k) plans and using AI to better protect and serve participants.
In this episode, Fortune’s Editor-in-Chief Alyson Shontell sits down with TIAA President and CEO Thasunda Brown Duckett to discuss America’s growing retirement crisis, the importance of lifetime income, and how TIAA is using technology and partnerships to build a more secure future for retirees. 

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For over 40 years, Qualcomm technology has powered some of the world’s most transformational technological advancements. Today, the company is moving beyond smartphones, building a future with wearable AI, humanoid robots, and a 6G cellular network.

In this episode, Fortune’s Editor-in-Chief Alyson Shontell speaks with Qualcomm’s President and CEO Cristiano Amon to discuss the company’s commitment to constant reinvention and why Amon is optimistic about the AI revolution.

00:00 Introduction

02:55 Intro to Qualcomm

04:36 Current state of AI

07:38 Amon and 6G

13:30 New relationships with smart devices

20:19 What will be the next smartphone

25:49 Diversifying Qualcomm’s business

30:44 Qualcomm’s culture of reinvention

32:08 Qualcomm’s move into data centers

38:17 Qualcomm robotics

42:51 Trust in AI

46:19 Amon’s techno-optimism
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From one of the largest bankruptcies in U.S. history to leading the industry in market capitalization and premium customer satisfaction, Delta Air Lines has rewritten the business of flying in the last two decades. 

In this episode, Fortune's Editor-in-Chief Alyson Shontell sits down with CEO Ed Bastian at Delta’s Atlanta headquarters to discuss the strategic maneuvers behind the airline’s resurgence. Bastian details his 'people-first' leadership philosophy, the evolution of the lucrative American Express partnership, and his vision for the future of travel, from AI-powered concierge services to the launch of flying taxis.

00:00 Intro

01:36 Advertisement

03:05 Bastian’s personal background

04:21 Executive training at Pepsi

06:14 Uncovering fraud at J. Walter Thompson

07:23 Delta files for bankruptcy

8:08 Bastian’s return to Delta

09:43 Delta’s turnaround playbook

11:37 Delta’s post-bankruptcy restructuring

13:55 Billion-dollar profit-sharing program

15:36 Sharing wealth with employees

16:21 Bastian’s people-first commitment

16:48 Becoming a CEO

17:45 Transitioning from CFO to CEO

19:04 Becoming comfortable as a CEO

19:45 Shifting communication styles as CEO

21:40 Staying in the know

22:13 Leading employees through down times

24:32 Bastian’s no-furlough strategy

26:06 Delta / AMEX partnership

29:14 Credit card interest rates

30:25 Creating brand trust and loyalty

33:39 Delta’s next 100 years

34:14 Balancing AI with people

36:56 Staying updated on AI

38:13 AI’s impact on air travel

39:15 Sustainable travel

40:08 Flying taxis

40:57 Delta’s five-to-ten year strategy

42:04 Bastian’s leadership advice
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