Bill Gross, who runs the world’s largest bond fund at Pacific Investment Management Co. [PIMCO], has purchased in-cash a $23 million bay-front home on the gated Harbor Island in Newport Beach, Calif.
The 11,000-square-foot 1979 Georgian-colonial style mansion has nine bedrooms and 12 baths and comes with 112 feet of waterfront. Gross, who’s apparently doing his best to revive the Southern California construction industry, is reportedly going to tear the home down to build a more contemporary mansion.
