- Billionaire investor Bill Gross has been embroiled in a contentious lawsuit with his Laguna Beach neighbors, according to a new Los Angeles Times report.
- The dispute stems from a $ 1 million outdoor sculpture that Gross and his partner Amy Schwartz set up a net around it to protect it from the elements. Their neighbor Mark Toufick filed a complaint with the city after his network blocked the view.
- The complaint sparked a fierce quarrel between neighbors, with Towfiq and his wife issuing a temporary remand order alleging that Gross and Schwartz were constantly exploding the theme song “Gilligan̵
- Gross and Schwartz claim in their own lawsuit that their neighbors are obsessed with them and have spied on the couple.
- Representatives from Gross and Towfiq did not immediately respond to Business Insider’s request for comment.
- Visit the Business Insider homepage for more stories.
Billionaire bond investor Bill Gross and his neighbor, a technology entrepreneur, are embroiled in a tumultuous legal battle over a million-dollar sculpture.
According to a report by Lawrence Darmiento of the Los Angeles Times, the founder of Pimco and his partner, former professional tennis player Amy Schwartz, have been accused by their neighbor Mark Toufick of harassment and intentionally causing emotional stress.
The disagreement stems from a 22-meter sculpture on Gross’s property in Laguna Beach, California. Created by artist Dale Chihuli, the sculpture consists of dozens of blue glass stems that reach nearly 10 feet in height. It was installed by Gross as a gift for Schwartz in 2019 and costs $ 1 million, according to the Times.
Schwartz told the Times that the glass pieces “are like my babies” and that she and her mother are praying for them.
But after the sculpture suffered thousands of dollars in damage, Gross and Schwartz set up a net around it to protect it from the elements that, according to Toufick and his wife, blocked their view. The couple filed a complaint with the city of Laguna Beach, which led the city to inspect the property and inform Gross that it lacked the appropriate permits, the Times writes.
Now the issue has provoked a fierce quarrel between neighbors. According to the Times, Towfiq and his wife claim that Gross and Schwartz shouted the theme song “Gilligan’s Island,” among other music, around the clock, including remotely turning on the music when they’re not home, in an attempt to made them stop the problem.
Gross and Schwartz claim in their own lawsuit that their neighbors are obsessed with them and have spied on the couple while swimming and directed security cameras at their home, according to the Times.
Towfiq has been remanded in custody and a hearing is scheduled for November 2 to determine whether it will be converted into a civil harassment order, the Times reported.
Representatives of Gross and Towfiq did not immediately respond to Business Insider’s request for comment.
In the past, Gross has been involved in fierce legal disputes. In 2016, his ex-wife Sue Gross filed for divorce, which led to a noisy and contested court battle that lasted for several years. And in 2014, Gross was fired by Pimco, which led him to file a lawsuit for wrongful termination and breach of contract. The lawsuit led to a $ 81 million deal in 2017.