There’s only one purpose to this story. To inform you that a bond guy–probably the most famous, most successful one of all time, Bill Gross–got a $290 million bonus last year from the company he founded, Pimco. (This according to Bloomberg.)
There are lots of other things in the story. How Bill Gross resigned from the company, not too long after Pimco CEO Mohamed El-Erian left (with his own $200 million plus bonus). How Pimco says Bloomberg’s numbers are off. (But not by that much.) How these guys got this bonus for a year in which they “underperformed.” But the main purpose, again, is to tell you that one man got that much money for a year’s work. Chew on that information for a while. That’s as much as the median income of almost 6,000 US families.