Published On: Thu, May 5th, 2016

Janus’ Bill Gross sells part of famed stamp collection for $4.5 million

Bill Gross GETTY

 

Billionaire bond manager Bill Gross has sold part of his famed stamp collection for $4.5 million and will donate some of the proceeds to a philanthropic arm of his former employer, Pacific Investment Management Co, which he is now suing.

Gross, who left Pimco in September 2014 and is now a portfolio manager at Janus Capital Group Inc, will donate $2 million to the Pimco Foundation.

The rest will go to The New York Times Neediest Cases Fund; the U.N. Sustainable Development Solutions Network; and Kershaw’s Challenge, set up by Los Angeles Dodgers baseball pitcher Clayton Kershaw and his wife Ellen.

Last October, Gross sued Pimco, a unit of German insurer Allianz SE and his employer for more than four decades, for more than $200 million, claiming he was pushed out so other executives could divvy up his bonus.

Read the full story at Reuters

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