THE MONEY: Known as the “Bond King” for building Pimco into one of the world’s biggest money managers; it now has $2.1T assets under management. Departed in 2014 in acrimonious split; has since reconciled. Retired as portfolio manager in 2019.
THE NUMBERS: 50-year career, three-time Morningstar Bond Manager of the Year, Bond Manager of the Decade. Inducted into the Fixed Income Analysts Society’s Hall of Fame. Famously avoided 2008 financial crisis with his bond fund returning 4.8%, while his benchmark dropped 4.2%, and S&P 500 Index fell 38%.
BIG BREAK: After a car accident in 1966, spent months in a hospital where he read Edward O. Thorp’s “Beat the Dealer.” Pair became friends, with Gross telling Thorp, “all the time that he’s responsible for my career.” Says arrived at Pimco at the right time—30-year bond bull market that began in early 1980s.
INVESTMENT OUTLOOK: “Stocks are AI dominated and continue to suggest 1-2% economic growth despite tariffs and geopolitical unrest,” Gross wrote in social media post in June. “I suggest a “little bull market” for stocks and a “little bear market” for bonds. Nothing dramatic either way for now.”
PHILANTHROPY: Managing investments and giving with his son Jeff and daughter Jennifer at the William, Jeff and Jennifer Gross Family Foundation, which is now up to $865M. Aims for 5% annual return to donate about $20M annually in SoCal, half of which he said he wants to donate to OC nonprofits. Gave $18M to 61 nonprofits and charities in 2024, including hurricane relief and recovery efforts in North Carolina and Florida. Donated $3M to Doctors Without Borders, totaling in nearly $50M in the past two decades. Other recipients included Solar Electric Light Fund, Mercy Ships and Environmental Advocates NY.
WHAT’S NEXT?: “Working to make William, Jeff & Jennifer Gross Family Foundation grow. $1 billion here it comes. Get up at 5:30 a.m. to invest from my office until 1 p.m. Causes include 50% of $20M annual donations locally in Orange County and Southern California. Enjoying watching my kids and grandkids play volleyball and gymnastics. Trips with wife Amy to Stanley Cup in Florida and Coeur d’Alene for golf. Handicap rising but I shot my age last year — 79. Amy beats me though.”
- Jeff Gross
