Gross -- with a net worth of about $2 billion, according to the Bloomberg Billionaires Index -- is sometimes overshadowed locally by Bren, said Moehlman of Beacon Pointe. The 82-year-old developer’s company is the largest land owner in California, making him worth about $15 billion, according to data compiled by Bloomberg.
Not Visible
Gary Borquez, a regional sales manager at Corsearch, part of legal, tax and finance consulting firm Wolters Kluwer, and a 16-year Newport Beach resident, said he read about Gross’s departure in local papers.
“I am sure it’s a big dinner conversation in some families, but not so much in my circle,” Borquez said. “He’s not very visible in this community -- not like Don Bren, for example.”
Most locals said the bond powerhouse will continue to be one of the larger employers in this seaside community.
“Pimco isn’t just about one man,” Michael Lutton, managing director at Newport Beach-based commercial real estate developer Tieback Holdings LLC, said over a drink at Fleming’s. “You don’t have a one-man shop in a 440,000-square-foot building.”