Bill Gross announces charity recipients of stamp collection proceeds
Following the $10 million sale of a portion of Bill Gross’s United States stamp collection on Oct. 3, Gross announced that in addition to donating $1 million each to Doctors Without Borders USA and The New York Times Neediest Cases Fund, he will also match a $200,000 donation by Bank of America to Laguna Beach’s Friendship Shelter.
Gross is the largest donor in history to Doctors Without Borders USA, with donations totaling approximately $33 million, including this contribution. The Friendship Shelter provides year-round shelter and rehabilitation to homeless adults.
“It’s thrilling to see how much good the proceeds from the stamp auctions have done over the years for the people served by non-profits around the world,” said Gross, who has previously donated to several charities benefiting the homeless.
Gross, a long-time resident and supporter of Laguna Beach, said he will also donate $50,000 to the Laguna Beach Community Clinic, and $25,000 each to the Laguna Beach Senior Center, Laguna Beach Pantry, Laguna Beach Boys & Girls Club, and Sally’s Fund. Gross will announce other nonprofit recipients to receive the remainder of the stamp sale proceeds following consultations with his children, with a priority on donations to Southern California organizations either directly or through the Gross Family Charitable Foundation.
Earlier auctions of Gross’s collection representing Great Britain, British Commonwealth, Western Europe, Scandinavia, the U.S. Confederate States, Switzerland, and Hawaii have generated more than $27 million, all of which has been donated to charitable and nonprofit organizations.
What remains of Gross’s collection is the heart of it — the United States stamps and stamps on envelopes (known as “covers” by collectors). Beginning with the first sale of “United States Stamp Treasures” on Oct. 3, all of Gross’s decades of collecting will ultimately be returned to the market through 2019.
“It has been great to see not only strong support among long-standing stamp collectors but also growing interest from a new generation of enthusiasts who are coming to appreciate the window into history that these stamps and envelopes can provide,” Gross said.