Top bond investor makes millions from selling a chunk of stamp collection

Stamp Header

He has spent more than $100m on his collection since the early 1990s.

Bill Gross, as prominent a stamp collector as he is a bond investor, has just sold a sizable chunk of his stamp collection — netting $4.5m.

The New York Times reports that Gross, who says he has spent more than $100m on his collection since the early 1990s, will donate $2m each to the Pimco Foundation, the philanthropic arm of his former employer, and The New York Times Neediest Cases Fund. The rest will go to smaller charities.

Gross is in the middle of a bitter legal dispute with his former firm over the circumstances of his abrupt departure in late 2014. But he has vowed to keep supporting the Pimco Foundation, which he was instrumental in setting up and supporting.

“The Pimco Foundation appreciates the donation from Sue and Bill Gross,” Sarah Middleton, executive director of the Pimco Foundation, said in a statement. “These donations serve to improve local and global communities and help empower others to better their lives.”

To access the complete New York Times article hit the link below:

Bill Gross Sells a Prized Investment: Stamps

Owner of New York Stock Exchange Will Not Bid for London Rival

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts