Bill Gross is an American businessman, with a net worth of $1.3 billion. Bill Gross has earned his net worth as co-founder of Pacific Investment Management (PIMCO). Gross is known as a financial manager and investment author and also runs PIMCO's $252.2 billion Total Return Fund. He was born in Middletown, Ohio, on April 13, 1944. His father, Sewell M. Gross, was a sales manager for AK Steel Holding, and his mother, Shirley, was a homemaker. He grew up as a Presbyterian, and graduated from Duke University with a degree in psychology, in 1966. In college, he was part of the Phi Kappa Psi. He later joined the Navy and went on to receive an MBA from the University of California, in Los Angeles, in 1971.
Bill has written two popular-market books on investing, "Bill Gross on Investing" and "Everything You've Heard About Investing is Wrong." He had a short career in Las Vegas, as a blackjack player, and used many of his gambling methods for spreading risk and calculating odds in his business investment decisions. He is an avid stamp collector and he recently purchased the former home of actress Jennifer Aniston, for a reported $42 million. In 2005, he formed a complete collection of 19th century United States postage stamps. He is only the third person to do so. As one of the world's largest mutual fund managers, his focus is mostly on bonds. He has been called "the nation's most prominent bond investor" by the New York Times. In September 2008, after which he had lobbied for the Federal takeover of Fannie Mae and Freddie Mac. Gross netted $1.7 billion, due to holding large positions in agency backed mortgage bonds of Fannie Mae and Freddie Mac. Gross is a charitable man, $20 million dollars, of his $23.5 million donation to Duke University, was set aside for financial aid, in 2005.