Bill Ackman ranted on X about $2M severance demand from a former employee — fellow billionaires rushed to his defense

It's not antithetic for radical to vent astir workplace issues to friends oregon family.

Billionaire hedge money manager Bill Ackman, however, took a overmuch much nationalist approach, sharing a astir 2,400 connection station connected X detailing a quality involving a erstwhile in-house lawyer astatine his household office, TABLE Management (1).

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In the post, Ackman described his concerns astir precocious unit turnover and rising costs astatine the firm, which was established astir 15 years agone to oversee his idiosyncratic finances. He said helium asked his nephew — who had antecedently worked astatine a ticker institution that Ackman controls — to look into operations astatine TABLE.

According to Ackman, his nephew's beingness took a crook for the worse erstwhile the second made a remark astatine a luncheon astir a pistillate looking young for her age. The remark, on with others, didn't spell unnoticed by the woman, an in-house lawyer whom Ackman referred to utilizing the pseudonym "Ronda." She was aboriginal laid disconnected arsenic portion of broader staffing changes and alleged that the comments contributed to an "unsafe enactment environment."

Ackman said the erstwhile worker declined a severance bundle of 3 months' wage and alternatively sought compensation equivalent to 2 years' salary, which would enactment retired to astir $2 million.

Severance (2) wage is wealth immoderate employees person aft they're fto go, though it's not required nether the Fair Labor Standards Act (2). Still, it's reasonably common, particularly successful firm roles.

Data from compensation level Pave shows galore employers spot limits connected however overmuch they'll pay. About fractional of companies headdress severance altogether, with nationalist firms typically topping retired astatine astir 26 weeks of pay, and backstage companies person to 12 weeks (3).

Ackman's station rapidly gained traction online, drafting 11 cardinal views and 23,000 likes, including reactions from chap billionaires. Elon Musk (4) wrote that situations similar this person "gone excessively far," (4) portion Donald Trump Jr. added (5), "This nonsense has to stop."

Joe Lonsdale, who co-founded Palantir, was among those who chimed successful connected Ackman's post. "Destroy them!" helium wrote, according to the Wall Street Journal (6).