Capitalism and humanitarianism can co-exist. Chobani’s CEO is trying to prove it
Hamdi Ulukaya, CEO & founder of Chobani and founder of the Tent Partnership for Refugees
February 19, 2023
In the days that followed the devastating earthquake in Turkey and Syria on Feb. 6, Hamdi Ulukaya, a Turkish immigrant and CEO of Chobani, donated $2 million of his own money to help recovery efforts, then got on the phone with fellow chief executives, U.S. government officials and the president of the World Bank, urging them to help.
Ulukaya has infused a similar spirit of generosity into Chobani. As founder and chief executive of America’s top-selling yogurt brand, he explained to potential Wall Street investors in a 2021 IPO filing that his 18-year-old company “operates on a simple fundamental principle, that we do well by doing good.” Ulukaya made waves in 2019, when he delivered a TED Talk called “The Anti-CEO Playbook.” As part of the presentation, he said the notion that businesses exist to maximize profits for shareholders was the dumbest idea he’d ever heard.
It’s not just talk. In recent years, as Chobani has expanded with new products like oat milk and cold-brew coffee, Ulukaya has granted his more than 2,000 employees shares worth up to 10% of the company’s value, while also donating millions of products to fight food insecurity in the United States.
TIME spoke to Ulukaya last week about his recent relief efforts — and how they fit with his vision of a modern CEO and a thriving company.