(Bloomberg) -- Bill Gross, the 70-year-old king of bonds, rushed through the offices of his $2 trillion empire on a Friday morning distributing hand-written notes. He knew his reign was over.

The billionaire co-founder of Pacific Investment Management Co. and its undisputed ruler for four decades was about to be overthrown. So just before 5 a.m. that day, on Sept. 26, he walked into Pimco’s headquarters in Newport Beach, California, and quietly placed notes on the desks of more than a dozen colleagues.

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