The 81-year-old founder of eponymous investment firm Allan Gray has died, a spokesman for the company confirmed Monday morning.
"It is with deep sadness that we share the news of
the death of Allan William Buchanan Gray on November 10, 2019, naturally
cause, "the investment management company said in a brief statement." Our first thoughts were with his family, and with them, as companions
and friends, we regret the passing of someone who made the change
impact on many lives as an entrepreneur, investor and philanthropist. He got some rest. "
Born in East London in 1
He received an MBA from Harvard in 1965, and then joined asset manager Fidelity in Boston as a fund manager. During this time, he completed the newly introduced Chartered Financial Analyst program and, according to an article in Personal Finance magazine, became the first CFA charter holder in South Africa., when he returned to the country in 1973 to start his own investment company, called Allan Gray Investment Management.
"With the start of Allan Gray Investment Management in 1973, I have proven my passion for investing can be conveyed to reflect clients. & # 39; save money and wealth and give them good value for their money, "Gray said in a letter to clients in 2015." This is our raisond & # 39; être, our driving goal. We focus on gaining and maintaining the trust and confidence of our clients, leaving them to determine in their actions whether the firm will grow and prosper – or fail and fail. Our financial services should be purchased and not sold. ”
In 1987, the company had 36 staff members and managed over R2bn, and Gray moved to London to launch international investment firm Orbis. The company is domiciled in Hamilton, Bermuda, where Gray has been based in recent years.
In 2005, Gray founded the Allan Gray Orbis Foundation with a personal gift of more than R1bn. The foundation has been awarded scholars in some of SA's top schools, including Parktown Girls' High School, Michaelhouse, Bishops Diocesan College and St Antioian's High School, as well as university bursaries . the Allan & Gill Gray Foundation, which he founded with his wife in 1979. The philanthropic foundation does not control the investment firm – rather it is managed by a holding company whose board is made up of executives and non- executive director. Allan Gray gives a portion of its revenue to the foundation.
"I am deeply grateful to my wife Gill, my soul and partner for over 50 years; our three children Trevor, Jennifer and William, whose enthusiastic participation and uncertainty have been it is possible for the Foundation; and their descendants, who will need the Foundation's long-term success, "Gray said in a statement on time.
Forbes predicts Gray's net worth of $ 1.8bn in 2017.
Citizens report that Gray died of a heart attack in Bermuda.