Early Life and Education
William Hunt "Bill" Gross was born on April 13, 1944, in Middletown, Ohio. His family moved to San Francisco in 1954. He graduated from Duke University in 1966 with a degree in psychology and later earned an MBA from UCLA Anderson School of Management in 1971.
Rise to Success
Gross began his career as a municipal bond trader in 1971. He co-founded Pacific Investment Management Company (PIMCO) in 1971 and became its chief investment officer in 1987. Under his management, PIMCO's Total Return Fund grew to become the world's largest bond fund. Gross was known for his aggressive investment style and his deep understanding of the bond market.
Key Business Strategies
Bill Gross was instrumental in creating the first investable market for fixed-income securities. His strategies included active trading of bonds, expanding into areas like junk bonds and emerging markets, and utilizing complex derivatives. He was known for his market commentary and insights, which were highly anticipated by investors. Gross was also known for making large bets when the odds were in his favor.
Philanthropy
Bill Gross is a committed philanthropist, having donated over $700 million to various causes. He founded the William, Jeff, and Jennifer Gross Family Foundation and signed the Giving Pledge, committing to donate the majority of his wealth to charitable causes. His philanthropic efforts include significant donations to Duke University, Doctors Without Borders, and the Smithsonian National Postal Museum.
