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 (2024)

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"Bond King" Bill Gross has an estimated net worth of $1.5 billion. Gross founded the investment-management firm Pimco in 1971. The firm would eventually reach a peak of $2 trillion in assets under management, and Gross' personal bank account grew with it. In 1999, the 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 the asset-management firm Janus Henderson, where he managed a smaller portfolio of $1.5 billion. Some of Gross' fortune is invested in the Janus Global Unconstrained Bond Fund, as well as closed-end municipal bond funds and stocks in Procter & Gamble 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 more than two years caused him to drop off the Forbes 400 list 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 Gross received in the divorce. Their art collection included Picasso's "Les Repos," which sold for $36.92 million at Sotheby's auction house. But Bill Gross' biggest collection is real estate. Gross purchased a 13,819-square-foot property in Laguna Beach's Irvine Cove area in 1988. While it's unclear 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 an 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 — a total of $35.8 million, all in cash. Bill and Sue Gross also owned a home in Corona del Mar and a condo in Park City, Utah. In 2018 during the divorce, Bill and Sue Gross separately spent nearly $150 million buying four homes in Laguna Beach over one month in a bidding war, bringing their total home count in the area up to seven. Bill Gross paid $32 million for a house on the Pacific Coast Highway and $36 million for a 5,500-square-foot oceanfront house in Irvine Cove. It was the third-highest price paid for a single home in Orange County. Sue Gross was awarded a $70 million package of three homes they owned during their 30-year marriage, including their $36 million Laguna Beach house. Bill Gross hired private security guards during the divorce. As part of his West Coast lifestyle, Gross loves to practice yoga. He has also played golf 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 in 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 away his money. Bloomberg has called him one of the biggest philanthropists. He's donated as much as $700 million and said he plans to donate his remaining millions. He once told Bloomberg the amount of his fortune was "staggering, even to me." He mostly donates through the William and Sue Gross Family Foundation, which supports healthcare, medical research, and education. The foundation donated more than $21 million in 2018. He donated the $81 million he received in a settlement with Pimco in a wrongful-dismissal lawsuit to the foundation. Much of his donations go toward health: $20 million to Hoag Memorial Hospital Presbyterian in Newport Beach, $20 million to Cedars-Sinai Medical Center in Los Angeles, $20 million to the 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 financial aid. He's also given to arts and culture organizations, donating $10 million to the Smithsonian Institution for a stamp-collecting gallery. He and Sue Gross 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 Gross reportedly gave American families in need. Bill Gross has also given to worldwide charitable efforts. He worked with GiveDirectly, which donates to poor people in Africa. 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

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Hillary Hoffower

2019-02-04T20:10:00Z

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 (1)

"Bond King" Bill Gross is retiring after more than 40 years in the financial industry.
Gross has amassed a $1.5 billion net worth, according to Forbes — at one point, his fortune was at least $2.5 billion.
About $1.3 billion of his fortune went to his ex-wife, Sue Gross, following a nasty divorce.
Gross largely spends his fortune on real estate and philanthropy.

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"Bond King" Bill Gross is saying goodbye to Wall Street.

Gross, 74, is retiring from the financial industry he worked in for more than 40 years, he said on Monday. In 1971, Gross founded Pimco, where he served as the managing director and chief investment officer. In 2014, he joined the global asset-management firm Janus Henderson.

During that time, Gross amassed a fortune that was worth at least $2.5 billion at one point. After he was embroiled in a nasty divorce, his estimated net worth dropped to $1.5 billion — but that's nothing to scoff at.

Aside from the $1.3 billion that went to his ex-wife post-divorce, Gross has dropped a large chunk of his fortune on two things: real estate and philanthropy.

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Throughout the years, Gross has purchased a series of homes along California's coast, namely in Laguna Beach, creating an impressive real-estate portfolio. Equally impressive is the $700 million he's donated to charity — and that doesn't even scratch the surface, seeing as he said he plans to focus on working with charitable organizations during retirement.

Below, see how Gross spends his fortune.

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"Bond King" Bill Gross has an estimated net worth of $1.5 billion.

Source: Forbes

Gross founded the investment-management firm Pimco in 1971. The firm would eventually reach a peak of $2 trillion in assets under management, and Gross' personal bank account grew with it.

Source: Forbes, Business Insider

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In 1999, the 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 the asset-management firm Janus Henderson, where he managed a smaller portfolio of $1.5 billion.

Source: Forbes, Bloomberg

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

Source: Bloomberg

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

Source:Business Insider

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A messy divorce with his wife, Sue, that went on for more than two years caused him to drop off the Forbes 400 list in 2018.

Source: Forbes

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

Source: Forbes

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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 Gross received in the divorce.

Source: Business Insider, Forbes

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

Source: Business Insider

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But Bill Gross' biggest collection is real estate.

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

Source: Yolanda's Little Black Book

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Gross also owns a compound in Indian Wells, California. He reportedly purchased a lot there for $2.5 million in 1995 and built an 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

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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: 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

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

Source: Yolanda's Little Black Book

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

Source: Business Insider

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

Source: The Real Deal

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

Source: The Real Deal, Orange County Register

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

Source: The Real Deal, Forbes

Bill Gross hired private security guards during the divorce.

Source: Business Insider

Advertisem*nt

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

Source: Business Insider

He has also played golf at The Vintage Club and Big Canyon Country Club.

Source: Business Insider

Advertisem*nt

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 in a four-month stint in Vegas. It paid for his UCLA business-school tuition.

Source: Business Insider, Reuters

Advertisem*nt

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

Source: Business Insider, Hermès

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

Source: Bloomberg

Advertisem*nt

He's donated as much as $700 million and said he plans to donate his remaining millions. He once told Bloomberg the amount of his fortune was "staggering, even to me."

Source: Bloomberg

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

Source: Bloomberg, Business Insider

Advertisem*nt

He donated the $81 million he received in a settlement with Pimco in a wrongful-dismissal lawsuit to the foundation.

Source: Forbes

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

Source: Bloomberg

Advertisem*nt

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 financial aid.

Source: Forbes, Bloomberg

Advertisem*nt

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

Source: Business Insider

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

Source: Business Insider

Advertisem*nt

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

Source: Bloomberg

Bill Gross has also given to worldwide charitable efforts. He worked with GiveDirectly, which donates to poor people in Africa.

Source: Bloomberg

Advertisem*nt

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

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.

See Details ›

What happened to the bond King? ›

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. Gross is retired now but still plays the market to a greater degree than most of us.

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.

Learn More ›

Is Bill Gross still with PIMCO? ›

About Bill Gross

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.

Get More Info ›

How did Buffalo Bill make his money? ›

Buffalo Bill made a fortune from his show, which he invested in lands in Nebraska and what is now Cody, Wyoming. The Wild West Show performed in Scott County several times. The very last Wild West Show was held in Davenport, Iowa in 1913.

Know More ›

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.

Get More Info ›

What is Bill Gross Total Return Strategy? ›

created the firm's Total Return Fund in 1987 to take active positions in duration, credit risk and volatility. The idea is that more than just clipping coupons, bond investors can also benefit from capital appreciation as bond prices rise and yields fall.

See Details ›

Is the total return strategy dead? ›

Bill Gross, who pioneered the “total return” strategy in the 1980s that revolutionized the bond market, says the approach is now defunct. Instead of just picking up steady interest payments like his peers did at the time, the co-founder of Pacific Investment Management Co.

Discover More Details ›

Who is the billionaire bond trader? ›

Jeffrey Gundlach is the cofounder of mutual fund company, DoubleLine Capital, which manages $91 billion in assets. The bond-trader extraordinaire is known for his bold calls and correctly predicted the housing crash in 2007.

Find Out More ›

What fund does Bill Nygren manage? ›

Bill Nygren has been a manager of the Oakmark Select Fund since 1996 and Oakmark Fund since 2000.

Show Me More ›

When did Bill Gross start PIMCO? ›

Bill Gross cofounded PIMCO, an investment management firm, in 1971 and became known as a superstar bond fund manager. He decamped in 2014, and joined Janus Henderson to manage a global macro bond fund; he retired in 2019.

What fund does Charlie Munger run? ›

Charlie Munger
Died	November 28, 2023 (aged 99) Santa Barbara, California, U.S.
Education	University of Michigan California Institute of Technology Harvard University (JD)
Occupations	Businessman financial analyst investor philanthropist lawyer
Known for	Vice Chairman, Berkshire Hathaway

16 more rows

Know More ›

What stocks does Bill Gross own? ›

He owns and recommends stocks like Energy Transfer (ET) and MPLX (MPLX) , which yield between 8-8.5%. He particularly likes Western Midstream Partners (WES) which he said yields 9.5%. Utilities have been "overblown" said Gross, because of their link to AI, but he does like NextEra Energy (NEE).

Discover More ›

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.

Who is PIMCO owned by? ›

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.

Read On ›

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.

View Details ›

Who owns PIMCO? ›

Read On ›

Who is called the Bond King? ›

BYDavid Rynecki. Bill Gross, chief investment officer of Pimco. Photograph by Alex Tehrani. Bill Gross is in the feathered-peaco*ck position.

See Details ›