Two years later the company relocated its headquarters to Bermuda. He then set up Orbis Investment Management in 1989 in London to focus on investing in international markets. The company initially focused on investment counseling, later growing to include institutional clients. He returned to South Africa in 1973 to found what would become Allan Gray Limited in Cape Town. He established a reputation for being a successful contrarian investor in the economic crash of 1962. Career Īfter Harvard, Gray started working for the asset management firm Fidelity Management and Research in Boston, where he stayed for eight years. Īfter completing high school at Selborne College, he studied accounting at Rhodes University and went on to earn an MBA at Harvard Business School in 1965. Gray stated that his grandmother played a large role in his future success by instilling a family focus on education. His grandmother was the first female mayor in South Africa when she was elected mayor of Butterworth years later and had attended the University of Aberdeen. His family had migrated from Aberdeen, Scotland to the then Cape Colony town of Butterworth in the 1890s. Gray was born in the South African city of East London in 1938. Before he donated his stake in the Allan Gray investment management company, his net worth was estimated to have been US$1.8 billion in 2017. He founded the privately owned investment management company named after him, and the non-profit Allan Gray Orbis Foundation, and the Allan and Gill Gray Charitable Trust. Founder of Allan Gray Investment ManagementĪllan William Buchanan Gray (8 April 1938 – 10 November 2019) was a South African billionaire businessman and philanthropist.
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