Bill Gross is retiring with a $1.5 billion net worth - see how the 'Bond King' spends his fortune, from a $1.3 billion divorce to a massive real-estate portfolio | Business Insider India (2024)

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Gross cofounded investment management firm Pimco in 1971. The firm would grow to reach a peak of $2 trillion in assets under management, and Gross's personal bank account grew with it. In 1999, German insurer Allianz bought Pimco, and Gross began earning a $200 million annual salary. In 2013, he received a $290 million bonus. In 2014, Gross left to join asset management firm Janus Henderson, where he managed a smaller portfolio of $1.5 billion. Some of Gross's fortune is invested in the Janus Global Unconstrained Bond Fund, as well as closed-end municipal bond funds and stocks in Procter & Gamble Co. and Johnson & Johnson. However, Gross used to be worth even more. His fortune reached $2.5 billion in 2017. A messy divorce with his wife, Sue, that went on for two-plus years, caused him to drop off The Forbes 400 in 2018. She received more than $1.3 billion and two of their cats. The Grosses acquired quite the collection of heirlooms during their marriage, including antique clocks, luxury cars, and a $56 million art collection — half of which Sue received in the divorce. This art collection included Picasso's "Les Repos," which sold for $36.92 million at Sotheby's auction house. But Gross's biggest collection is real estate. Gross purchased a 13,819 square-foot property in Laguna Beach's Irvine Cove back in 1988. While it's unknown how much he paid for it, it has six bedrooms and eight bathrooms. Gross also owns a compound in Indian Wells, California. He reportedly purchased a lot there for $2.5 million in 1995 and built a 11,316 square-foot mansion with an infinity pool. In 2002, Gross reportedly paid $20 million for a mansion on 17 Mile Drive in Pebble Beach, California. He later sold it for $16.5 million, suffering a $3.5 million loss. In 2009, he bought a bayfront home in Newport Beach for $23 million and tried to flip it. It reportedly sold for $20.8 million in April 2014. In 2011, Gross bought Jennifer Aniston's Beverly Hills home for a reported $37 million. In 2014, he bought two houses across the street and next door to his Irvine Cove mansion for $19.8 million and $16 million, respectively — a total of $35.8 million, all in cash. He and Sue also owned a home in Corona del Mar and a condo in Park City, Utah. In 2018 during the divorce, Gross and Sue separately spent nearly $150 million buying four homes in Laguna Beach over the course of one month in a bidding war, bringing their total home count in the area up to seven. Gross paid $32 million for a house on the Pacific Coast Highway and $36 million for a 5,500 square-foot oceanfront house in Laguna Beach's Irvine Cove. It was the third-highest price ever paid for a single home in Orange County. Sue was awarded a $70 million package of three homes they owned during their 30-year marriage, including their $36 million Laguna Beach house. Gross had hired private security guards during the divorce. As part of his West Coast lifestyle, Gross loves to practice yoga. He also plays golf, having played at The Vintage Club and Big Canyon Country Club. Gross is also an avid stamp collector. He's spent as much as $3 million collecting every stamp produced by the US from 1847 to 1869, and some of his collections have sold for up to $500,000. Gross was once a professional blackjack player. He turned $200 into $10,000 after a four-month stint in Vegas. It paid for his UCLA business school tuition. He has a penchant for Hermès ties, which range from $140 to $305. But Gross has an even greater affinity for giving his money away. Bloomberg called him one of the world's biggest philanthropists. He's donated as much as $700 million, and plans to donate his remaining billions. He told Bloomberg the amount was "staggering, even to me." He mostly donates through the Sue and Bill Gross Foundation, which supports healthcare, medical research, and education. The foundation donated more than $21 million in 2018. Upon receiving $81 million in a settlement with PIMCO for wrongful dismissal, he donated the money to the Sue and Bill Gross Foundation. Much of his donation go towards health: $20 million to Hoag Memorial Hospital Presbyterian, $20 million to Cedars-Sinai Medical Center in Los Angeles, $20 million to medical charity Mercy Ships, and $10 million to Mission Hospital in Laguna Beach. The William and Sue Gross Family Foundation committed $40 million toward establishing the Sue and Bill Gross School of Nursing at the University of California. Gross has also donated $23.5 billion to his alma mater, Duke University, for providing financial aid. He's also given to arts and culture, donating $10 million to the Smithsonian Institution for a stamp-collecting gallery. He and Sue wrote anonymous $15,000 checks to workers laid off from NASA's Space Shuttle program in 2012. That's not to mention personal gifts he and Sue reportedly made toward American families in need. Gross has also made worldwide charitable efforts. He worked with GiveDirectly, which donates to Africa's poor. He also donated more than $19 million to the Millennium Villages Project, which focuses on the causes of extreme poverty in Africa. Gross says he plans to work with charitable organizations during his retirement. FAQs

Gross cofounded investment management firm Pimco in 1971. The firm would grow to reach a peak of $2 trillion in assets under management, and Gross's personal bank account grew with it.

Source: Forbes, Business Insider

In 1999, German insurer Allianz bought Pimco, and Gross began earning a $200 million annual salary. In 2013, he received a $290 million bonus.

Source: Bloomberg, Business Insider

In 2014, Gross left to join asset management firm Janus Henderson, where he managed a smaller portfolio of $1.5 billion.

Source: Forbes, Bloomberg

Some of Gross's fortune is invested in the Janus Global Unconstrained Bond Fund, as well as closed-end municipal bond funds and stocks in Procter & Gamble Co. and Johnson & Johnson.

Source: Bloomberg

However, Gross used to be worth even more. His fortune reached $2.5 billion in 2017.

Source: Business Insider

A messy divorce with his wife, Sue, that went on for two-plus years, caused him to drop off The Forbes 400 in 2018.

Source: Forbes,

She received more than $1.3 billion and two of their cats.

Source: Forbes

The Grosses acquired quite the collection of heirlooms during their marriage, including antique clocks, luxury cars, and a $56 million art collection — half of which Sue received in the divorce.

Source: Business Insider, Forbes

This art collection included Picasso's "Les Repos," which sold for $36.92 million at Sotheby's auction house.

Source: Business Insider

But Gross's biggest collection is real estate.

Gross purchased a 13,819 square-foot property in Laguna Beach's Irvine Cove back in 1988. While it's unknown how much he paid for it, it has six bedrooms and eight bathrooms.

Source: Yolanda's Little Black Book

Gross also owns a compound in Indian Wells, California. He reportedly purchased a lot there for $2.5 million in 1995 and built a 11,316 square-foot mansion with an infinity pool.

Source: Yolanda's Little Black Book

In 2002, Gross reportedly paid $20 million for a mansion on 17 Mile Drive in Pebble Beach, California. He later sold it for $16.5 million, suffering a $3.5 million loss.

Source: Yolanda's Little Black Book

In 2009, he bought a bayfront home in Newport Beach for $23 million and tried to flip it. It reportedly sold for $20.8 million in April 2014.

Source: The Wall Street Journal, Yolanda's Little Black Book

In 2011, Gross bought Jennifer Aniston's Beverly Hills home for a reported $37 million.

Source: Business Insider

In 2014, he bought two houses across the street and next door to his Irvine Cove mansion for $19.8 million and $16 million, respectively — a total of $35.8 million, all in cash.

Source: Yolanda's Little Black Book

He and Sue also owned a home in Corona del Mar and a condo in Park City, Utah.

Source: Business Insider

In 2018 during the divorce, Gross and Sue separately spent nearly $150 million buying four homes in Laguna Beach over the course of one month in a bidding war, bringing their total home count in the area up to seven.

Source: The Real Deal

Gross paid $32 million for a house on the Pacific Coast Highway and $36 million for a 5,500 square-foot oceanfront house in Laguna Beach's Irvine Cove. It was the third-highest price ever paid for a single home in Orange County.

Source: The Real Deal, The Orange County Register

Sue was awarded a $70 million package of three homes they owned during their 30-year marriage, including their $36 million Laguna Beach house.

Gross had hired private security guards during the divorce.

Source: Business Insider

As part of his West Coast lifestyle, Gross loves to practice yoga.

Source: Business Insider

He also plays golf, having played at The Vintage Club and Big Canyon Country Club.

Source: Business Insider

Gross is also an avid stamp collector. He's spent as much as $3 million collecting every stamp produced by the US from 1847 to 1869, and some of his collections have sold for up to $500,000.

Source: Business Insider

Gross was once a professional blackjack player. He turned $200 into $10,000 after a four-month stint in Vegas. It paid for his UCLA business school tuition.

Source: Business Insider, Reuters

He has a penchant for Hermès ties, which range from $140 to $305.

Source: Business Insider, Hermés

But Gross has an even greater affinity for giving his money away. Bloomberg called him one of the world's biggest philanthropists.

Source: Bloomberg

He's donated as much as $700 million, and plans to donate his remaining billions. He told Bloomberg the amount was "staggering, even to me."

Source: Bloomberg

He mostly donates through the Sue and Bill Gross Foundation, which supports healthcare, medical research, and education. The foundation donated more than $21 million in 2018.

Source: Bloomberg, Business Insider

Upon receiving $81 million in a settlement with PIMCO for wrongful dismissal, he donated the money to the Sue and Bill Gross Foundation.

Source: Forbes

Much of his donation go towards health: $20 million to Hoag Memorial Hospital Presbyterian, $20 million to Cedars-Sinai Medical Center in Los Angeles, $20 million to medical charity Mercy Ships, and $10 million to Mission Hospital in Laguna Beach.

Source: Bloomberg

The William and Sue Gross Family Foundation committed $40 million toward establishing the Sue and Bill Gross School of Nursing at the University of California.

Source: Los Angeles Times

Gross has also donated $23.5 billion to his alma mater, Duke University, for providing financial aid.

Source: Forbes, Bloomberg

He's also given to arts and culture, donating $10 million to the Smithsonian Institution for a stamp-collecting gallery.

Source: Business Insider

He and Sue wrote anonymous $15,000 checks to workers laid off from NASA's Space Shuttle program in 2012.

Source: Business Insider

That's not to mention personal gifts he and Sue reportedly made toward American families in need.

Source: Bloomberg

Gross has also made worldwide charitable efforts. He worked with GiveDirectly, which donates to Africa's poor.

Source: Bloomberg

He also donated more than $19 million to the Millennium Villages Project, which focuses on the causes of extreme poverty in Africa.

Source: Inside Philanthropy

Gross says he plans to work with charitable organizations during his retirement.

Source: Business Insider

Bill Gross is retiring with a $1.5 billion net worth - see how the 'Bond King' spends his fortune, from a $1.3 billion divorce to a massive real-estate portfolio | Business Insider India (2024)

FAQs

How did Bill Gross make his money? ›

Investment career

Called "the nation's most prominent bond investor" by The New York Times, he co-founded Pacific Investment Management (PIMCO) and managed PIMCO's Total Return fund (once the world's largest bond fund with almost $293 billion in assets) and several smaller funds until his departure in September 2014.

Learn More Now ›

What is Bill Gross doing now? ›

Bill Gross has been a pioneer in fixed income investing for more than 40 years. He co-founded PIMCO in 1971 and served as managing director and chief investment officer until joining Janus Henderson Investors in 2014. He retired in 2019 to focus on managing his personal assets and private charitable foundation.

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Is Bill Gross a billionaire? ›

That's a lot of money, even for someone whose estimated net worth is $2.3 billion. Gross, who cofounded PIMCO and managed its massive Total Return bond fund before heading to Janus in September, is also known for his character and eccentric lifestyle, which some have attributed to his successes in money managing.

What fund does Bill Gross manage? ›

Bill Gross is a renowned bond investor who led his Pacific Investment Management Company, PIMCO, to become the largest active fixed income fund management firm in the world.

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Why is Bill Gross the Bond King? ›

The Pimco Total Return fund had almost $293 billion in assets in 2013 and delivered market-beating performance to match. In the 15 years through February 2014, his fund returned an annualized gain of 6.68%, versus 5.19% for the average intermediate-term bond fund. It's no wonder he was famously crowned the Bond King.

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Where did Bill Gross go to college? ›

Gross is a 1966 graduate in psychology from Duke University. He has donated millions to his alma mater for financial aid.

Get More Info Here ›

What is a Gross bill? ›

Gross billings refer to the total value of all invoices issued to clients before any deductions such as discounts, allowances, or returns. This metric offers a glimpse into the company's sales activities, capturing the full value of transactions before accounting adjustments.

What is Bill Good doing now? ›

In July 2014, Good announced he would retire on 1 August after 26 years at CKNW. He returned to the airwaves on 8 September 2015 as host of a daily editorial commentary feature, A Minute with Bill Good on NEWS 1130. He also currently appears in television advertisem*nts for the home lending company Capital Direct.

How rich is a billionaire? ›

A billionaire is a person with a net worth of at least one billion units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. It is a sub-category of the concept of the ultra high-net-worth individual.

Who is billionaire bill? ›

Most investors have probably heard of Bill Gates, best known as a billionaire philanthropist and co-founder of Microsoft (NASDAQ: MSFT). After heading up the technology company he founded for more than 25 years, the former CEO stepped down to focus on his charity work.

Does Bill Gross still own PIMCO? ›

Gross told InvestmentNews in one of his first interviews since abruptly leaving Pimco, which he co-founded in 1971 and transformed into one of the world's largest bond shops, with more than $2 trillion in assets. Mr.

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How much did Bill Gross make? ›

Bill Gross is an American investor who has a net worth of $1.6 billion. Bill Gross first gained national attention as the co-founder of Pacific Investment Management (PIMCO), which today manages $2 trillion.

Learn More Now ›

Is PIMCO still good? ›

Dazzling Performance

Pimco Income has consistently outperformed its category, returning 7.5% annually over the past 15 years, compared with the category average of 4.8% and the Morningstar Core Plus Bond Index's average of 2.8%. It is ranked in the 1st percentile of funds in its category for that period.

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Who Is Bill Gross? - InvestopediaInvestopediahttps://www.investopedia.com ›

Who Is Bill Gross? - Investopedia

Investopedia

https://www.investopedia.com

Investopedia

https://www.investopedia.com

Bill Gross co-founded the Pacific Investment Management Company, PIMCO, in 1971. He is known as the "Bond King."

Bill H. Gross - Wikipedia

Wikipedia

https://en.wikipedia.org

Wikipedia

https://en.wikipedia.org

William Hunt "Bill" Gross (born April 13, 1944) is an American investor and retired fund manager, who co-founded Pacific Investment Management Co. PIM...

Bill Gross Fast Facts | CNN

CNN

https://www.cnn.com

CNN

https://www.cnn.com

Here's a look at the life of Bill Gross, founder of PIMCO, Pacific Investment Management Company. Personal. Birth date: April 13, 1944. Birth place: Middlet...

How did Bill Maher make his money? ›

Maher's career was jump-started by cohosting Indecision '92—a program that provided irreverent coverage of the presidential election—for the cable network Comedy Central. His success led to the debut of his own show, Politically Incorrect, in 1993.

Who invented bond trading? ›

In 12th Century Venice, the city-state's government began issuing war-bonds known as prestiti, perpetuities paying a fixed rate of 5% These were initially regarded with suspicion but the ability to buy and sell them became regarded as valuable.

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How much is PIMCO worth? ›

PIMCO manages $1.88 trillion in assets, including $1.51 trillion in third-party client assets as of 30 June 2024.

Discover More Details ›

Who owns PIMCO? ›

PIMCO is owned by Allianz SE, a leading global diversified financial services provider. The Allianz Group is one of the world's leading insurers and asset managers with more than 88 million retail and corporate customers.

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