Early Life and Education
William Hunt "Bill" Gross was born on April 13, 1944, in Middletown, Ohio. He graduated from Duke University in 1966 with a degree in psychology. Gross also earned an MBA from the UCLA Anderson School of Management in 1971.
Rise to Success
Gross began his career in the investment field and gained recognition for co-founding Pacific Investment Management Company (PIMCO) in 1971. During his tenure, PIMCO's Total Return Fund became the world's largest bond fund. Gross was known as the "Bond King" and advised on the role of subprime mortgage bonds during the 2008 financial crisis.
Key Business Strategies
Gross was known for his innovative approach to fixed-income investing and his ability to analyze macroeconomic trends. He employed strategies that involved taking substantial positions on interest rate movements. The Total Return Fund was a pioneering product, offering a diversified portfolio of fixed-income securities.
Philanthropy
Bill Gross is a committed philanthropist, having donated over $700 million to charity throughout his career. He founded the William, Jeff and Jennifer Gross Family Foundation, which donates over $20 million annually. Gross signed the Giving Pledge and plans to donate the majority of his wealth to charitable causes.