William Hunt “Bill” Gross, considered the “king of bonds”, is the co-founder and former co-chief investment officer of Pacific Investment Management Company LLC (PIMCO). He also ran PIMCO’s $270 billion Total Return Fund, PTTRX. In 2014, Bill Gross left PIMCO to join Janus. In October 2015, Gross sued PIMCO for wrongful dismissal, seeking $200 million in damages that he says he will donate to charity.
After finishing his MBA, Bill Gross co-founded PIMCO in 1971 and led it for more than 4 decades. He managed PIMCO’s Total Return fund, the world’s largest bond fund, and several smaller ones until his departure in September 2014. Bill Gross received a $290 million bonus in 2013 before departing the firm. PIMCO’s total AUM was $1.973 trillion as of June 2014, and $1.5 trillion as of June 2016. Right after his departure from PIMCO, Bill Gross joined Janus Capital Group in September 2014. He is the portfolio manager responsible for managing the Janus Global Unconstrained Bond and Total Return strategies and is a member of the Janus Global Macro Fixed Income leadership team. Janus Capital’s total AUM was $190.9 billion as of October 2016. Bill Gross authored two books on investing – Bill Gross On Investing (1988) and Everything You’ve Heard About Investing Is Wrong! (1997).
Bill Gross was born in 1944 in Middletown, Ohio. He graduated Duke University with a degree in psychology in 1966. He then served in the Navy and earned his MBA from the Anderson School of Management at the University of California, Los Angeles in 1971. Gross briefly played blackjack professionally in Las Vegas and has said that he applies many of his gambling methods for spreading risk and calculating odds to his investment decisions.
Bill Gross was #290 of Forbes 400 in 2016 with an estimated net worth of $2.4 billion. Gross has been married twice. In 1968, he married Pamela Roberts, and they have two children. In 1985, Gross married Sue J. Frank, and they have one son. Gross donated $23.5 million to Duke University, $20 million to Cedars-Sinai in Los Angeles for the new surgery center, $20 million to Mercy Ships to build toward a new hospital ship and $40 million to the University of California, Irvine to establish a nursing school. Gross has become the largest donor in history to Doctors Without Borders by donating approximately $24 million over the years. In 2011, Gross picked up a mansion from Jennifer Aniston’s Beverly Hills home for reported $37 million. Variety reported that he also owned homes in Laguna Beach, Corona del Mar, Indian Wells, a condo in Park City, Utah and a mansion in Pebble Beach. He is a huge stamp collector and an avid practitioner of yoga.