Mohamed El-Erian was at the top of global finance - but he walked away from billions after one heart breaking list from his daughter…
In 2013, Mohamed El-Erian was CEO of PIMCO, the world’s most powerful bond manager with almost $2 trillion under management.
He was one of the most influential figures in finance, helping steer markets that shaped entire economies.
But at home, things looked very different.
One evening, his young daughter handed him a handwritten list.
It showed 22 separate school events he had missed - soccer games, parent evenings, class projects, even a Halloween parade.
At the bottom was a yearbook photo: Mohamed was in the background... glued to his BlackBerry.
“Dad,” she told him, “Even when you’re there, you’re not actually there.”
The next morning Mohamed approached Bill Gross, Founder of PIMCO: “Bill, in the next 12 months I’m going to step down. It’s up to you if that’s tomorrow or a years’ time, but I have to step down.”
After Mohamed shared the story of his daughter’s list with Bill, Bill replied: “That’s bulls**t. You’re going to go and work for a competitor aren’t you?”
Mohamed: “I’m a New York Mets supporter, I’m a New York Jet’s supporter. Loyalty is something I believe in. Otherwise I would have found better teams, believe me!”
Bill: “Then you’re ill. Have you got cancer?”
Mohamed: “No”
Bill: “Mohamed, no one walks away from money.”
Mohamed: “Bill, I don’t know my daughter...”
Mohamed resigned from PIMCO in March 2014.
Instead of running a $2 trillion empire, he built a portfolio career as a writer, adviser, and educator - but most importantly, he reclaimed time with his family.
Looking back on his decision, Mohamed said:
“I needed to rebalance my life. And when I look at my relationship with my daughter today, it was the best decision I’ve ever made.”