Given a set of $m$ agents and a set of $n$ items, where agent $A$ has utility $u_{A,i}$ for item $i$, our goal is to allocate items to agents to maximize fairness. Specifically, the utility of an agent is the sum of its utilities for items it receives, and we seek to maximize the minimum utility of any agent. While this problem has received much attention recently, its approximability has not been well-understood thus far: the best known approximation algorithm achieves an $\tilde{O}(\sqrt{m})$-approximation, and in contrast, the best known hardness of approximation stands at 2. Our main result is an approximation algorithm that achieves an $\tilde{O}(n^{\eps})$ approximation for any $\eps=Ω(\log\log n/\log n)$ in time $n^{O(1/\eps)}$. In particular, we obtain poly-logarithmic approximation in quasi-polynomial time, and for any constant $\eps > 0$, we obtain $O(n^{\eps})$ approximation in polynomial time. An interesting aspect of our algorithm is that we use as a building block a linear program whose integrality gap is $Ω(\sqrt m)$. We bypass this obstacle by iteratively using the solutions produced by the LP to construct new instances with significantly smaller integrality gaps, eventually obtaining the desired approximation. We also investigate the special case of the problem, where every item has a non-zero utility for at most two agents. We show that even in this restricted setting the problem is hard to approximate upto any factor better tha 2, and show a factor $(2+\eps)$-approximation algorithm running in time $poly(n,1/\eps)$ for any $\eps>0$. This special case can be cast as a graph edge orientation problem, and our algorithm can be viewed as a generalization of Eulerian orientations to weighted graphs.