Bill Gross Takes a Big Step Down

Pimco founder and co-chief investment officer Bill Gross plays golf at Pebble Beach Golf Links in California, 2012 Photograph by Robert Galbraith/Corbis

When markets closed yesterday, the stock value of mutual fund manager Janus Capital Group was $2.1 billion. Bill Gross, the famed bond investor who co-founded Pacific Investment Management Co. in 1971, had a personal net worth of $2 billion, according to Bloomberg Billionaires.

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