Bill Gross, fund manager at Janus Capital, recently appeared on Bloomberg GO to discuss philanthropy and philately, both of which he knows very well.
“Well, I’ve been selling it for nine years; you know, once you’re fill in all the spaces, Tom, it’s time to start letting some of it go,” said Gross. “I’ve been letting it go for charity for about $20-$25 million over the past nine years, and this collection sale helped.”
Asked if he’ll ever “sell the stamp with the upside down airplane,” Gross responded: “Oh, no—never, never sell the Inverted Jenny; keep the Inverted Jenny.”
The recent sale of part of Gross’ collection realized $4.5 million USD ($5.8 million Cdn.), a portion of which was donated to the Pimco Foundation that he co-founded in 2000.