Bill Gross, a pioneer in fixed income investing, has been a dedicated Doctors Without Borders/Médecins Sans Frontières (MSF) supporter for almost 20 years and is one of our most generous donors. An equally dedicated stamp collector, Mr. Gross put his stamp collection up for auction in 2007, with all the proceeds, totaling over $7 million, going to MSF. Since his retirement in 2019, he’s overseen The William, Jeff and Jennifer Gross Family Foundation, which provides funding for nonprofit organizations that focus on humanitarian causes, health care, arts, and education.
How does MSF’s mission align with your philanthropic goals?
I believe that health care is a human right, not a privilege of those who can most afford it, or who has the best insurance. That’s why my family and I have made some of our largest donations to health care organizations, whether it’s MSF or other organizations
What makes MSF different from other organizations?
MSF is an organization that goes directly to where their help is needed most. My children, Jennifer and Jeff, and I chose to invest in the organization because stricken children and adults are needlessly dying around the world due to futile wars and devastating diseases. MSF’s ability to deliver urgent humanitarian aid to the otherwise forgotten or ignored is unique and unparalleled.
What do you want other potential donors to know about MSF and the work we do?
The public should know that any dollar donated to MSF is a dollar that will go toward the urgent needs of those facing the most catastrophic consequences of war, natural disasters, and other events outside people’s control. MSF should also be considered the world’s eyes and ears on the ground. Their direct and indirect eyewitness accounts of emergencies are often more descriptive and accurate than the mainstream media. While the media mostly describes the conflict, MSF not only tells us about the human consequences, but they also try to address the problems.
What do you hope to accomplish with your philanthropy?
I would hope to provide a legacy, not for myself, but of lasting improvement in the communities and lives of people most in need of assistance. In some ways, I’d like to think of myself as an intermediary. It is true, I have been blessed with wealth through hard work and good fortune. But what good is that wealth if it can’t be put to a higher purpose and help provide the basic necessities for others? I hope to accomplish some measure of improvement in humanity through my giving, whether locally or internationally. I’ve endeavored to put my money where my mouth is. My giving has been directed less toward building ego monuments, and more for direct action. The bulk of my giving has gone toward organizations that provide health care, humanitarian relief, education, and community support. In other words, groups that have a ground game and provide direct assistance to urgent causes.
How would you convince an everyday person to think bigger in terms of what they can accomplish with their own giving?
Trust me, I don’t do this for the adoration. There is no expectation of gratitude, just the satisfaction that the money goes straight to where it’s most needed and spent responsibly. My advice to future philanthropists would be to find existing institutions like MSF (my favorite) and start writing checks. And forget about semi-permanent nameplates over hospitals and universities (I’m guilty of this in my early years). Donate to organizations that give money and care directly to the people who need it.