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Thursday, October 31, 2013

Gross Vows to Give It All Away

News summary by MFWire's editors

Bill Gross knows he can't take it with him when he dies, but he promises he won't even try.

The Pimco [profile] has vowed to give away all of his money when he dies, reports L.A. Times.

During an interview in CNBC, he quoted Andrew Carnegie, who reported deemed it a disgrace for a wealthy person to die with money. Carnegie's 1889 article "The Gospel of Wealth" said the wealthy have an obligation to give away their money to improve society.

The declaration was in response to the latest Tweet dare from Carl Icahn, who challenged the Pimco co-founder, who is reportedly worth $2 billion, to give away half of his wealth to charity. 

Edited by: Tommy Fernandez

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