Billionaire Paul Tudor Jones: You Can Work For A Corporation And Keep Your Humanity

  • “Just because we work for a company doesn’t mean we have to lose our humanity,” said Jones at the Forbes 30 Under 30 Summit in Boston Tuesday.

Ryan Hickey
When billionaire investor Paul Tudor Jones II started his career as a commodities trader in 1976 Milton Friedman was a god, famous for arguing that earning a profit was the sole responsibility of a business. As Jones grew his hedge fund Tudor Investment Corporation through the 1980s, he saw shareholders and managers used this axiom to justify their behavior. It didn’t feel right.
“Just because we work for a company doesn’t mean we have to lose our humanity,” said Jones at the Forbes 30 Under 30 Summit in Boston Tuesday. Moreover, mass means businesses need to be involved to improve the world. “If you are really going to have an impact at scale it is going to be through the companies we work at.”
These days most companies talk a big game about weaving social good into business. But how the many actually do it and do it well? Jones’ new non-profit—Just Capital—was created to answer that question.
Last year, Jones partnered with Forbes to publish the first annual Just 100 list, a ranking of the best corporate citizens.  Some 1,000 companies were scored and ranked on ten metrics: worker pay and benefits, worker treatment, supply chain impact, community well-being, domestic job creation, product attributes, customer treatment, leadership and ethics, environmental impact and investor alignment. The metrics were determined through extensive surveys.
From 2010 to 2015 a hypothetical portfolio of the Just 100 averaged a 13.6% return versus just 9.9% for the other 797 companies in the Russell 1000 that were part of the universe. Clearly doing good is also good business. Tudor’s firm is firm is preparing an ETF based on the ranking
“The most important thing is that we will get a dialogue in the boardrooms about what is just behavior,” said Tudor Jones.

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