Newport Beach-based Pacific Investment Management Co. cofounder Bill Gross received about $200 million in compensation last year, according to a recent report in the New York Times, which was based on an anonymous source.
Pimco Chief Executive Mohamed El-Erian earned $100 million, according to the report.
Pimco does not disclose information about executive compensation.
“We all earn too much, but I can sleep because of the multiples we have provided for our clients over the years,” Gross told the Times. Gross also called El-Erian his “heir apparent” in the interview.
Last year was the first time Gross’ Total Return fund saw a net outflow, totaling $5 billion. The fund delivered a return of 4.2% for the year, below the 7.8% return for the industry benchmark likely as a result of bad calls against U.S. bonds earlier last year.
Pimco’s flagship Total Return has more than recouped the net outflow since then, and now tops $263 billion in assets, posting a 7.1% return so far this year.
Pimco manages $1.8 trillion overall.
