Anonymous
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Latest versions of Illustrator have an exact solution for that.
Open Align panel, and enable Align to Glyph Bounds option in the panel’s menu, for point or area text or both.
The bounding box will remain the same, but the text will now align to and by its actual bounds, just like you want.
Please comment back if it works for you.
An error occurred while saving the comment Anonymous shared this idea ·
****Without having to create outlines....because having to do that and then not being able to edit your text is super inconvenient.