Top financier and analyst William H. Gross
A huge number of people deliberately remain in their current positions, fearing loss of jobs, the respect of colleagues, or simply believing their own prejudices.
It's hard to believe that a simple mechanic, security guard, soldier, or salesman can suddenly become a successful trader, hoovering up billions of dollars.
The famous names of financiers who have achieved success in the stock market, earning billions of dollars, only sound grandiose.
In reality, behind them are ordinary people just like you, who worked in their chosen professions before entering the market. You will learn about one such success story in this article.
William H. Gross was born on April 13, 1944, in Middletown, Ohio. He grew up in an ordinary, middle-income family.
His mother was an ordinary housewife, while his father held the position of executive director at a steel mill.
It is worth noting that William H. Gross was a very diligent student, and thanks to his efforts, he was able to receive a scholarship to study at Duke University.
However, he was far from the financial market and the stock exchange world, since his chosen field of study concerned human psychology and he received a bachelor's degree in psychology in this field.
William H. Gross was a very active student and even belonged to one of the most prestigious fraternities, Phi Kappa Psi.
He graduated from Duke University in 1996. Interestingly, after graduating, Gross decided to radically change his life and, instead of pursuing a career in his field, enlisted in the U.S. Navy.
He served there for three years, participating in various special operations during the Vietnam War. However, during his service, he completely changed his worldview, which led to a desire to further his education and develop his skills in finance.
After leaving the military in 1970, he enrolled at UCLA Anderson School of Management, where he earned an MBA, a crucial step in his future career. At the time of his graduation, William H. Gross was quite successful and wealthy.
His early fortune was aided by the exciting card game of blackjack, as Gross was such a master of the game that he managed to win numerous professional tournaments in Las Vegas, earning enormous sums.
trading career
in 1971 as an analyst at Pacific Mutual Life.
He remained there until 1976, and in that short time, he became the manager of one of the largest bond-trading funds.
In many interviews, Gross repeatedly emphasized that the same risk management tactics he used in blackjack helped him achieve success.
During his career, he also earned additional education, completing analyst courses and earning a diploma.
A turning point in William's career was his participation in the founding of Pacific Investment Management, the world's largest bond fund.
It's worth noting that Gross was a very strict and strong leader, which led to repeated conflicts within the company, leading either to lawsuits between the founders or constant turnover in the management team.
Personal Life and Philanthropy:
As a billionaire, William H. Gross is actively involved in philanthropy. In 2005, he donated over $25 million to Duke University, where he graduated.
A year later, Gross donated approximately $20 million to Doctors Without Borders and also funded the construction of a brand-new surgical center to the tune of over $20 million.
Gross and his family's philanthropy focused on medicine and education, with his contributions supporting programs aimed at fighting women's cancer and stem cell research.
The billionaire's personal life was quite eventful, as he had two marriages and several high-profile property disputes under his belt. One of the most notorious cases occurred after his first marriage, when Williams' wife sued him for their house.
In exchange, he effectively made it uninhabitable by filling the ventilation system with waste, resulting in a terrible odor.
William H. Gross is one of the world's leading collectors, and he is the only one to own a complete collection of every U.S. postage stamp. Currently, the 74-year-old Gross's net worth is estimated at $2.5 billion.
