Well-known bond investor Bill Gross donated $22.73 million in 2022 to charities through a foundation he founded with his son and daughter.
The William, Jeff & Jennifer Gross Family Foundation announced January 17 that it donated the money to 58 local and global non-profits in 2022. It was the most ever donated in a single year by a Bill Gross foundation.
Recipients included Mercy Ships, Doctors Without Borders, African Women Rising, Atrium Health Sanger Heart & Vascular Institute, and several other Orange County, Calif., and national and international recipients.
Gross, 78, is best known as “the Bond King” and co-founder of Newport Beach, Calif.-based asset manager Pimco.
“Jennifer, Jeff and I are pleased to donate to organizations helping people during these extraordinarily challenging times,” said Gross, now a philanthropist and author, in a press release. “Between inflation and the lingering effects of Covid, people are struggling to meet basic needs and support their families. Many of these organizations are essential to providing relief to those in need, while also nourishing their souls in other ways.”
Gross was crowned the Bond King by Fortune in 2022. For years, his name was synonymous with bond investing. Eventually, Pimco forced him out, his wife left him and he retired in 2019. The book, “How One Man Made a Market, Built an Empire, and Lost It All,” published in March 2022 and written by Mary Childs, chronicles his rise and fall from the asset-management world.
Forbes estimates his net worth at $1.6 billion.
