Bill Gross On What Success Means For Him Today And His Plans For Donating All His Wealth

There are people who are good at their job and then there are those who are best. For those who are the best at their chosen profession, success comes naturally. Like for ‘Bond King’ and Janus Capital Group Inc JNS portfolio manager, Bill Gross, who after consistent success in the bond markets for decades is planning to donate almost all his wealth.

Gross was on Bloomberg recently to discuss about what success means to him now and his philanthropic activities.

Success

"Well, I define-- success-- differently now than five or ten years ago," Gross said. I mean success-- in the early years was business-related, and asset growth related, and of course, you know, with family was related to how well your son or daughter was doing' on the soccer field, et cetera, et cetera."

He continued, "You know, these days as the children have grown and are doing their own thing, certainly still-- very-- very much connected with-- with their own successes, but-- but-- my wife Sue and I have-- have raised our family. And-- and now success becomes a function of what we can do with the rest of the world outside, to help others and to prove that some of the prior success can blend into success for the future for others."

Philanthropy

Gross was asked if he will give away all his wealth through Gross Family Foundation. He replied, “You know, certainly in terms of the foundation. I mentioned the foundation is a family foundation, and so I have three kids. They're between-- 26 and-- 42 years old. And so they'll continue the effort. But yeah, we'll give everything that we have other than our home away to either philanthropic causes that I've talked about, or to the foundation.