Tags: pimco | gross | icahn | gates

Pimco's Gross Says He Too Should Emulate Gates After Icahn Bash

Friday, 25 Oct 2013 12:05 PM

 

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Bill Gross, who urged billionaire investor Carl Icahn to dedicate more time to charity instead of pushing Apple Inc. to buy back shares, said he also should spend more time on philanthropy.

“By the way, I should spend more time like Bill Gates, too — we all should,” Gross, who runs the $250 billion Pimco Total Return Fund at Pacific Investment Management Co. in Newport Beach, California, wrote in a message on Twitter. “He and Melinda are great paragons.”

In a Twitter message, Gross said Icahn should leave Apple alone and spend more time like Gates, the Microsoft Corp. co-founder and world’s richest man who, together with his wife Melinda, started a foundation aimed at improving people’s lives. Icahn, ranked 33rd on the Bloomberg Billionaires Index of the world’s richest people with a personal wealth of $21.7 billion, is pushing Apple to buy back $150 billion of shares and has criticized the board for not acting to enhance value.

Icahn has signed the Giving Pledge, a group that Gates and investor Warren Buffett founded to encourage the world’s richest to give the majority of their wealth to charity. In 2012, he pledged $200 million to the Mount Sinai School of Medicine, the biggest donation ever given to the New York City teaching hospital.

Gross’s personal wealth is estimated at $2 billion. The 69-year-old has endowed a foundation with $293 million in assets and raised money for Doctors Without Borders, a medical charity, by selling parts of his stamp collection.


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