Pimco’s Bill Gross Paid $200 Million Last Year, N.Y. Times Says
Pacific Investment Management Co. co-founder Bill Gross made about $200 million last year and Chief Executive Officer Mohamed El-Erian was paid about $100 million, the New York Times reported, citing an unidentified person familiar with the matter.
El-Erian is the “heir apparent” at Newport Beach, California based Pimco, Gross told the Times in an interview. Gross and El-Erian declined to comment on details of their compensation to the newspaper.
“We all earn too much, but I can sleep because of the multiples we have provided for our clients over the years,” Gross told the newspaper during a joint interview with El- Erian.
Pimco, which manages the world’s biggest mutual fund, oversees about $1.8 trillion in assets, the newspaper reported. Pimco is a unit of Munich-based insurer Allianz AG.
Mark Porterfield, a spokesman for Pimco, didn’t immediately return a request for comment outside normal business hours.
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