Gray was born in 1938 in the city East of London located on the South-East coast of South Africa. After successfully completing high school, he joined Rhodes University in Grahamstown to study to become a chartered accountant. After he graduated from this university, he went to Harvard Business School to pursue his Masters.
Gray is the founder of Allan Gray Limited, which is the biggest privately-owned investment management firm in Southern Africa. He acts as the CEO of this firm and manages over $10 billion in investors funds. Gray is also the founder of Orbis Group, which is a Mutual Funds firm, based in Bermuda. He is also the founder of Allan Gray Orbis Foundation, a foundation that offers full high school scholarships to students in South Africa.
Today, Gray is one of the most successful entrepreneurs not just in South Africa, but in the whole of Africa at large. Allan has always kept his fortune hidden from public scrutiny such that global organizations that make it their business to track personal wealth, i.e. Forbes, haven’t been able to compile a comprehensive report about his wealth. Nevertheless, Ventures Africa has managed to determine just how much he is worth and it estimates his wealth to be about $8.5 billion. This makes Allan Gray the second richest person in Africa after Aliko Dangote.
Allan Gray Limited
Allan Gray Limited is a privately-owned investment management firm that was founded in 1973 by Allan Gray. Gray founded the one-man company in Cape Town with the intention of providing investment counseling, but later on extended his services to institutional clients. Since the company started dealing with offering investment services, it has experienced a tremendous growth. This is due to its ability to provide remarkable returns on investments, constantly outperforming its much larger competitors and emerging the most successful company in the retail investment industry it is today.
Orbis Group is a Mutual Funds group based in Bermuda. It was founded by Gray in 1989. Orbis has more than $21 billion under management. William Gray, Allan Gray’s son is the President of Orbis and equally serves as the portfolio manager of the Orbis funds.
Allan Gray Orbis Foundation
Gray is considered to be Africa’s most generous philanthropist. Besides being the founder of Allan Gray Orbis Foundation, he endowed it with $150 million from his personal funds, which was one of the largest gifts in South African history at that time. Allan Gray Orbis Foundation provides scholarships for Grade 12 high school students as well as university students. Allan believes firmly in not just giving out donations. He is passionately involved in the constructive utilization of all the funds that he hands out.
Allan Gray is married to Gill Gray.