Mr. Icahn's response escalates an exchange that started last week when Mr. Gross, manager of the world's biggest mutual fund, said Mr. Icahn should leave Apple alone. Mr. Gross said Mr. Icahn should instead spend more time like Mr. Gates, the Microsoft Corp. co-founder and the world's richest man, who with his wife Melinda, has started a foundation aimed at improving people's lives.To Bill Gross @PIMCO: If you really want to do good, why not join http://t.co/nn6jp9E2ch like Gates, I and many others have?
— Carl Icahn (@Carl_C_Icahn) October 28, 2013
Mr. Icahn, ranked 34th on the Bloomberg Billionaires Index of the world's richest people with a personal wealth of $21.2 billion, is pushing Apple to buy back $150 billion of shares and has criticized the board for not acting to enhance value. Mr. Icahn has signed the Giving Pledge. In 2012, he gave $200 million to the Mount Sinai School of Medicine, the biggest donation ever to the New York City teaching hospital. WHO'S WHO OF WEALTHY Mr. Gross's personal wealth is estimated at $2 billion. The 69-year-old, who manages the $250 billion Pimco Total Return Fund (PTTAX), has endowed a foundation with $293 million in assets and raised money for Doctors Without Borders, a medical charity, by selling parts of his stamp collection. Mark Porterfield, a spokesman for Pimco, declined to comment last week on whether Mr. Gross had signed the pledge. Mr. Porterfield didn't immediately respond to an e-mail seeking comment Monday. Mr. Gross's name doesn't appear on the Giving Pledge website, which shows about 114 current pledgers, including couples. Other donors who are money managers include Pershing Square Capital Management LP's Bill Ackman and his wife, Karen; Bridgewater Associates LP's Ray Dalio and his wife, Barbara; and Carlyle Group LP's David Rubenstein. After Mr. Gross's Twitter message Oct. 24 that said, “Mr. Icahn should leave Apple alone & spend more time like Bill Gates,” Mr. Icahn appeared on the television network CNBC and said Mr. Gross had a right to his opinion, yet he will continue to tackle what he views as problems in corporate governance. In a Twitter message Oct. 25, Mr. Gross said he too should spend more time on philanthropy and called Gates and his wife “great paragons.” The money manager gave $20 million to Cedars-Sinai Medical Center last year and $20 million to Mercy Ships, an international medical charity, in August.Gross: Icahn should leave #Apple alone & spend more time like Bill Gates. If #Icahn's so smart, use it to help people not yourself.
— PIMCO (@PIMCO) October 24, 2013
(Bloomberg News)Gross: By the way, I should spend more TIME like Bill Gates too -- we all should. He and Melinda are great paragons.
— PIMCO (@PIMCO) October 25, 2013
Omaha-based RIA expands Northern California footprint with Roseville acquisition amid record annual pace for wealth management M&A.
Advisor's Alpha framework joins Envestnet's platform, giving advisors new tools to manage client tax exposure year-round.
B Capital and pension giant CalPERS lead a consortium buying the 90-year-old asset manager from TA Associates and Reverence Capital Partners.
Using artificial intelligence can have benefits for both advisors and their clients, according to new research.
Broker-dealers that sold the defunct securities backed by Inspired Healthcare generated more than $100 million in fees and commissions.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
