He said at the time that he would focus on managing his personal assets and private charitable foundation, the $390 million-asset William, Jeff and Jennifer Gross Family Foundation. [17], The Financial Times wrote in March 2019: “Active, aggressive bond investing was Gross’ big innovation. [57][52], Named after its primary benefactor, the Smithsonian National Postal Museum's William H. Gross Stamp Gallery is the world's largest gallery dedicated to philately. Named after him, the William H. Gross Stamp Gallery at the Smithsonian National Postal is the world's largest gallery dedicated to philately. In 1985, he married Sue J. Frank; they have one son, Nick. [28] Both own homes in Laguna Beach, California. [14], At Pimco, Gross controlled more bond money than anyone in the world, and he advised the Treasury on the role of subprime mortgage bonds during the 2008 financial crisis. [52], In 2012, Gross donated $20 million to Cedars-Sinai Medical Center (Los Angeles) for the new Sue and Bill Gross Surgery and Procedure Center, which opened in summer 2013. All Rights Reserved, Cofounder and Co-Chief Investment Officer, Pacific Investment Management Company LLC. In October 2005, he purchased at auction for $2.97 million a unique plate block of the famous 1918 24-cent U.S. airmail stamps known as the "Inverted Jenny," featuring an engraving of a Curtiss JN-4 biplane printed upside-down. He then traded the Inverted Jenny plate block to Donald Sundman, President of Mystic Stamp Company, a stamp dealer, for a 1-cent 1868 "Z Grill" depicting Benjamin Franklin (one of only two known to exist), thus completing Gross's 19th century collection. We sat down with Idealab founder, Bill Gross, to talk about his new ventures - Heliogen and Energy Vault - and his views on building and funding companies that can transform our economy to adapt to and mitigate the effects of climate change. Janus Funds bond guru warns that 2.60% is a line in the sand for the 10-year. In 1968, he married Pamela Roberts. Called "the nation's most prominent bond investor" by The New York Times,[12] 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)[13] and several smaller ones until his departure in September 2014. William Hunt Gross (born April 13, 1944) is an American investor, fund manager, and philanthropist. [39], Gross is well known as a passionate amateur golfer. [24], In the 1990s he authored two popular-market books on investing, Bill Gross on Investing and Everything You've Heard About Investing is Wrong! [19], It was widely reported that the departure of Pimco chief executive Mohamed El-Erian was triggered by conflict with Gross. Main items described in Julia Lee, "Scandinavia gems to be sold for charity", federal takeover of Fannie Mae and Freddie Mac, "The obsessive life of bond guru Bill Gross - The Globe and Mail", "How time in Navy, Vietnam shaped a budding billionaire's life", "Bill Gross reveals lessons from blackjack", "The Greatest Investors: William H. Gross", "MUTUAL FUNDS REPORT; A Quarter Of Gains, But Doubt Persists", "Once the 'Bond King,' Bill Gross Is Retiring, His Star Dimmed", "Announcing the Morningstar Fund Managers of the Decade", "Bill Gross Made the Bond Market What It Is Today", "Bill Gross: 'We were looking for every penny we could get, "Bill Gross of Pimco Is on Treasury's Speed Dial", "Mohamed El-Erian Vs. Bill Gross: The Two Bond Kings (C, JNS)", "Inside the Showdown Atop Pimco, the World's Biggest Bond Firm", "Exclusive: Pimco's Gross declares El-Erian is 'trying to undermine me, "Gross to Sue Pimco for 'Hundreds of Millions' Over Ouster", "Bill Gross settles lawsuit against Pimco for $81 million and a nameplate: Sources", "Fannie Mae And Freddie Mac Rescue Nets $1.7bn for Bill Gross", "Janus Henderson Announces the Retirement of William H. Gross", "Bill Gross got revenge on ex-wife with fart spray: court papers", "Bond king to beach king: Bill Gross picks up another $30 million-plus mansion in Laguna Beach", "Top 10: See the most expensive Orange County home sales of 2018", "The Billionaire Stamp Collector - The Wealth Report - WSJ", "General Research Division | The New York Public Library", "Lessons Learned, Investor Builds Portfolio of Stamps", "Bond Guru Bill Gross is about to rattle another market: stamp collecting", "Bond King Bill Gross Is Also the King of Stamps. [34] As of November 2005, he became the third person (after Robert Zoellner in the 1990s and Benjamin K. Miller pre-1925)[35] to form a complete collection of 19th century United States postage stamps. Ben Trosky, who created and ran Pimco's high-yield bond business from the 1990s through the early 2000s, told Barron's that Gross was, “a good trader, a good analyst, and a good salesman, able to distill complex ideas into something simple and accessible.”[16], Gross was able to beat the market for much of his career by exploiting the element of certainty, and mastering the element of uncertainly, according to a 2002 Fortune story, "The Bond King".

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