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Bill Ackman, CEO and founder of Pershing Square Capital. Photo: Richard Drew / AP

Credit Suisse analysts predict that upwards of 1 in 4 malls in the United States will close by the year 2022, as Americans turn to online shopping rather than spending their weekends browsing the selections at traditional stores.

But that doesn't mean that many malls won't reinvent themselves, according to billionaire investor Bill Ackman. He tells CNBC:

[Malls are] going to have different tenants, in 5 and 10 years from now. Think about what a mall is. A mall is 100 acres at the intersection of the two most important highways in a particular community . . . It's going to be more food and entertainment and innovative concepts."

Go deeper: How America's malls are already making the transition

Go deeper

Philanthropy Deep Dive

Illustration: Aïda Amer/Axios

A look at how philanthropy is evolving (and why Dolly Parton deserves a Medal of Freedom).

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — The recovery needs rocket fuel.
  2. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  3. Education: Devos extends federal student loan relief to Jan. 31
  4. States: New Mexico to allow hospitals to ration coronavirus medical care
  5. Vaccine: What vaccine trials still need to do.
  6. World: UN warns "2021 is literally going to be catastrophic"
  7. 🎧 Podcast: Former FDA chief Rob Califf on the vaccine approval process.
6 hours ago - Health

A safe, sane survival guide

Photo: Luka Dakskobler/SOPA Images/LightRocket via Getty Images

We all know, it’s getting worse.

Reality check: Here are a few things every one of us can do to stay safe and sane in coming months: