I thought it was the old FBI trick, chuckles Larson, you know, ask for 13 and randomly pick three.
Michael Larson (businessman) - Wikipedia Business data for Cascade Investment, LLC: This page was last edited on 7 January 2023, at 14:28. Previously, Mr. Larson was at Harris Investment Management, Putnam Management Company and ARCO. Apparently Larson didnt have as much as an unpaid parking ticket in his file (has he considered running for office? [1], Larson was born in Sacramento, California in October 1959. Michael Larson has for decades managed Bill Gates' fortune, which is worth nearly $130 billion. The record illustrates the priorities of the uppermost strata of the ultrarich, where investment horizons span generations and riskier bets often dont outweigh the value of a good reputation. But it often instead involves simply keeping wealth steady. First, it reflects my view of the markets. When she informed Larson that she had voted, Larson said in response: "But you live in the ghetto, and everybody knows that Black people don't vote," three sources described to The Times. He then earned an MBA from the University of Chicago at the age of 21. 30 Apr 2023 20:37:03 New York: For almost three decades, Michael Larson has quietly shuffled around one of the worlds biggest fortunes with a chief priority: Keep his fabulously wealthy bosses out of the headlines. As for the actual content of Gates $5 billion portfolio (drum roll, please), it turns out to be not that exciting. Under Larson, Cascade has focused some of its attention on UK-listed stocks. He is the chief investment officer for the Bill & Melinda Gates Foundation and Gates' personal investment portfolio. Sophie Alexander , Anders Melin and Tom Maloney 22 June, 2021 09:09 am IST By using Ecolab.com, you consent to our use of cookies.
Representatives for Larson and Cascade Investments did not immediately respond to Insider's request for comment. Michael Larson runs a tight ship with his employees as well. We use Michael Larson is the Business Manager of Cascade Investment, L.L.C. In an extensive investigation the newspaper said that Michael Larson, who runs Cascade Investments, had created a "culture of fear" where the employee abuses had occurred. Michael Larson (born October 1959) is an American money manager. Formerly a director of Pan American Silver Corp. He adds that family offices are changing and evolving in a number of fundamental ways. The sprawling portfolio under his purview, estimated by Bloomberg News to be valued at about $170 billion, has over the years generated returns that beat the broader stock market by about a percentage point, according to financial filings and people familiar with the matter. Larson was only 16 when he graduated high school and could not attend the Coast Guard Academy until he was 18. ", https://en.wikipedia.org/w/index.php?title=Michael_Larson_(businessman)&oldid=1147949433, This page was last edited on 3 April 2023, at 05:49. They talked about AlbuquerqueMicrosofts hometown in the early daysabout risk management, and about investing, of course.
Jamie Walters, CAIA on Twitter: "Michael Larson (born October 1959) is He is the Chief Investment Officer for The Gates Foundation and Bill Gates' fortune, through the Cascade Investment fund. FIND MICHAEL LARSON Created on May 09, 2013 by Spoke Edited on May 09, 2013 by Spoke PAGE COMPLETION. According to Fortune, hes always been interested in science and likes to read up on the topic as well as investing in cutting-edge biotech companies. Same platform but with new and improved features. Larson, often clad in a pink shirt, shies from the limelight and rarely attends conferences for family office professionals. Their combined wealth stands at more than $140 billion, according to the Bloomberg Billionaires Index. Part of Larsons job was to help Bill Gates uphold his image as a wonky billionaire devoted to fixing the worlds challenges, rather than make bold moves that could draw scrutiny. "Cascade Investment (Bill and Melinda Gates Investments (BMGI)) - Family Office, United States - SWFI", "Cascade Investment, Bill Gates' wealth manager", "A Culture of Fear at the Firm That Manages Bill Gates's Fortune", "Bill Gates uses farmland as an investment outlet buying up potato, carrot and onion farms", "Bill Gates Transferred Billions Of Dollars' Worth Of These Two Stocks To The Gates Foundation", "Bill Gates Sells $940 Million of CN Rail Stock, Trimming Stake to 9%", "Four Seasons Hotels agrees to bid from Gates and Alwaleed", "Bill Gates' stake in Ecolab could get bigger", "Canadian National Railway Company | SC 13G", "Could Bill Gates be the next owner of Strategic Hotels? Actually, when I heard it was Bill, I wasnt sure I wanted the job, says Larson. Right now his portfolio actually looks somewhat like a big old bond fund. In fact, a recent snapshot of Gates personal portfolio looks like this: Larson has 70%, or $3.5 billion, invested in short-term governments and corporates, with a small weighting in foreign bonds. He studied at Claremont McKenna College for three years, achieving a degree in economics. This article about a financial services corporation of the United States is a stub. Bill and Melinda Gates announced on May 3 that they are splitting after 27 years of marriage.
Bill Gates Money Manager Michael Larson Accused of Misconduct in 2017: NYT He favors cable stocks such as TCI and Liberty Media, as well as Cox Communications and Barry Dillers USA Networks. Larson is the chief investment officer of Gates's family office, Cascade Investments. Michael Larson is one of the most powerful men in US wealth management you have never heard of. Read our Cookies Policy to learn more.
Witnesses of Misconduct by Bill Gates' Money Manager Paid Off: NYT PDF # 22 July 11, 2003 VIA E-MAIL United States Department of Treasury P.O ", "See how @DiageoGB scores on #water stewardship in face of #climatechange in new @Ceresnews analysis", "Bill Gates is $9.5 billion richer than he was a year ago, worth over $100 billion, but not just from Microsoft", "Cascade Investment Portfolio Holdings", "The Bill Gates-backed company that's reinventing meat", "Sears gets more time to repay lenders, including funds tied to CEO Edward Lampert and Bill Gates", "Bill Gates' Cascade Investment, GIC buy stakes in StorageMart", "GIP teams up with Blackstone and Cascade to buy Signature Aviation", https://en.wikipedia.org/w/index.php?title=Cascade_Investment&oldid=1132153932, Investment companies of the United States, Conglomerate companies of the United States, Financial services companies established in 1995, 1995 establishments in Washington (state), Privately held companies based in Washington (state), United States financial services company stubs, Creative Commons Attribution-ShareAlike License 3.0. He grew up in North Dakota and Albuquerque, New Mexico, and received an MBA from the University of Chicago, Fortune reported in 1999. Employees are made to sign confidentiality agreements, which cover them even after they leave. Cascade Investment, Bill Gates wealth manager, is known to invest globally and across many asset classes, Cascade Investment, Bill Gates wealth manager, Video: Bill and Melinda Gates talk science, Long-lived rivals: actuaries say Biden and Trump are not too old for office, The Big Dig: Germany reopens its mines in quest for mineral self-sufficiency, Singapore deepens US defence ties despite Chinese financial inflows, Inflations legacy hits European households even as price growth ebbs, EU law to restore nature stokes debate that jobs will go to China, Charlie Munger: US banks are full of bad commercial property loans, JPMorgan to acquire First Republics deposits as US regulators step in, JPMorgan, Citizens and PNC submit bids for First Republic, Deutsche Bank plans to beef up investment bank advisory team, Mercedes-Benz chief says cutting China ties would be unthinkable, Investors bet on shrinking pool of tech stocks as rally narrows, Totals chief tells investors European listing to blame for oil groups trading discount, Building society chief warns deposit-scheme reform will hit lending, FirstFT: The second-biggest bank failure in US history, China, America and why not all growth is equal, A gruesome episode tells a painful story about corporate Japan, The costs of entrenched high inflation cannot be ignored, Labour has leverage to carry out private equity tax reform, Inside the elite British college for the worlds best nannies, In Kolkata, Indias new bankruptcy law is put to the test, Travels through Cretes ancient history without the crowds. A representative for Gates didnt respond to a request for comment. [5], Larson reportedly directs Cascade's investments through Bill and Melinda Gates Investments, a firm that also manages the portfolios of the Bill and Melinda Gates Foundation and other connected entities. Larson farms out some 15% of the overall portfolio to bond managers at Morgan Grenfell, PIMCO, Miller Anderson & Sherrerd, and Western Asset Management. He is responsible for Mr. Gates non-Microsoft investments as well as the investment assets of the Bill & Melinda Gates Foundation Trust.
Bill Gates's Longtime Money Manager Accused of Workplace - Observer Despite the divorce, the Bill & Melinda Gates Foundation is staying intact. [7], With 269,000 acres of farmland (which has been historically countercyclical to the stock market) being held through a wide network of shell companies, Cascade Investment is the largest farmland owner in the United States. Ecolab respects your privacy and security, so weve updated our Privacy Policy to comply with the EU General Data Protection Regulation (GDPR) effective May 25, 2018. OEM diesel and natural gas engine manufacturer. Larson runs Gates' secretive investment company, Cascade Investment, and manages Gates'. Larson, who has worked as Gates' money manager for nearly three decades through Cascade, made sexual and racist comments, 10 former employees and others familiar with the firm told The Times. In a Fortune story from two decades ago, Larson explained that much of his strategy boiled down to countering the swings of Microsoft stock. Married with three children, Michael Larson prefers Levis jeans and dark pink shirts. According to this Fortune article, published during March 1999, Michael Larson runs the three portfolios he managed at the time in very different ways Larson managed money for The William H. Gates Foundation, the Gates Learning Foundation and Bill Gates personal portfolio at the time. One remarkable feature of the portfolio is how little it changes. The other reason we do equities is because we have some expertise in certain areas, and we make money at it.. He is the chief investment officer for the Bill & Melinda Gates Foundation, and Bill Gates ' personal fortune through Cascade Investment.
Student Opportunities - Financial Economics Institute He also has served on several other public company boards providing him relevant corporate governance experience. Apr 30, 2023 - Rent from people in le-de-France, France from $20/night. Larson originally managed $11.5 billion of the Gates fortune and foundation but that has swelled tremendously over the years as Gates sells his Microsoft stock. Qualifications With more than 40 years of portfolio management experience, Mr. Larson has deep investment expertise and broad understanding of the capital markets, business cycles and capital efficiency and allocation practices. The Learning Foundation is the simplest. Cascade Investment, L.L.C. Sources told The Times that the woman reached a settlement in 2018, signing a nondisclosure agreement in exchange for a payment. The No. ][citation needed] This number includes the Bill & Melinda Gates Foundation and Gates's personal wealth. Cascade's most recent Form 13F filed with the SEC showed assets of $2.1 billion. Smaller investments include stakes in nuclear-reactor developer TerraPower LLC and meat-substitute maker Beyond Meat. "Melinda and I are free to pursue our vision of a healthier and better-educated world because of what Michael has done," Gates said, according to The Journal. 2011-2023 VALUEWALK LLC. The William H. Gates Foundation is a little more complicated. He started digital-image company Corbis Corp. in 1989.
The Times reported that a lawyer sent the Gateses a letter alleging that Larson had been sexually harassing a woman who managed a bike shop. He attended Claremont College, finishing in three years with a degree in economics, and then went directly to the University of Chicago, where he picked up an MBA at the age of 21. www.vbprofiles.com is now www.topionetworks.com. And its the biggest shareholder of Republic Services Inc., which for years has feuded with the International Brotherhood of Teamsters union, whose members are employees. Larson attended Valley High School in Albuquerque. The head hunter had heard of Larson from a few investors in Tacoma, Washington. Michael Larson, manager of Gates' $170 billion who was supposed to keep Bill-Melinda divorce forces $50 billion Gates Foundation to weigh changes, Microsoft names Satya Nadella chairman, rewards him for turning around tech giant, How medieval Kashmir became centre of the world Vaishnavism, Puranas, and war, Baker who framed Sadak 2 actor on drug charges in Sharjah was told off by her mother, wanted revenge, Laws expire at UP border: In the MP/MLA courts of the ganglands, cases come to crawl. Source: getty. Michael Larson Partner at Cascade Investment Location: Duluth, Minnesota Area Biography Chief Investment Officer to William H. Gates III. Director of Ecolab since 2012. He was trying to buy a money-management firm in Chicago when the call from Bill Gates headhunter came.
Michael Larson Email & Phone Number - Cascade F.. | ZoomInfo Gates has spent much of his wealth on his charitable foundation, as well as on his $125 million estate in Washington, a luxury-car collection, and a private plane. Cascade Investment Email Format. The moniker closely resembles Cascade Investment, which historically has been the part of BMGI that manages the Gateses personal wealth. Cascade Investment, L.L.C. The most common Cascade Investment email format is [first]. Because I think some stocks have behavior patterns that run counter to Microsoft, says Larson. In February of that year, Gates held a celebration at his mansion near Seattle in honor of Larson, who at that point had been working for Gates for 20 years. Before teaching at Claremont McKenna College, St. Dennis was Assistant Secretary to the Treasury under Ronald Reagan and was Chairman and CEO of California Federal Bank. Based in Kirkland, Wash., and run by Michael Larson, a former. Michael Larson is a Manager, Investment at Cascade Funding based in Kirkland, Washington. He also called employees "stupid" and would call their work "garbage," sources told The Times. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option.
Who is Michael Larson? Bill Gates' money manager accused of racist It holds around a 4 per cent stake in Warren Buffetts Berkshire Hathaway investment group, owns 47 per cent of the Four Seasons hotel company and about 6 per cent of Bunzl, the distribution and outsourcing group. Berkshire isnt. Larson reportedly directs Cascade's investments through Bill and Melinda Gates Investments, a firm that also manages the portfolios of the Bill and Melinda Gates Foundation and other connected entities. Copyright 2022 Printline Media Pvt. BMGI is an organisation that manages the portfolios of Cascade, the Bill & Melinda Gates Foundation Trust and other entities, but again it does not label itself as a family office. Across the world, Tillotson believes there are about 79,000 very rich individuals (those with personal wealth greater than $50m) who control roughly $19tn in assets. Michael Larson has for decades managed Bill Gates' fortune, which is worth nearly $130 billion. [9] This constituted one of the investment firm's largest holdings.
Background Report. To this end they are increasingly sharing their experiences with other families via specialist peer networks, events and publications, and with their advisers, says Tillotson.
Sources also told The Journal that Gates and Larson mostly had a professional relationship and that they rarely interacted socially. Preston Gates & Ellis LLP Alumni Founded Companies, Private Greater Seattle Area Companies (Top 10K), Total number of current Advisors and Board roles the person has, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Where the person is located (e.g. and other data for a number of reasons, such as keeping FT Sites reliable and secure, The two foundations merged to form the Bill & Melinda Gates Foundation during 2000. The manager had broad leeway from Gates on investment decisions, they both have said. The Times report also described sources as saying Gates had pursued female employees and been dismissive of French Gates in work meetings at Microsoft. Unflattering details spilled out, including a report that Larson allegedly harassed & bullied some employees. My most important job is asset allocation, he says. He studied at Claremont McKenna College for three years,. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders. Michael Larson leads the Investment office and manages assets for Bill Gates and the Bill and Melinda Gates Foundation Trust Board of Directors Republic Services Jan 2009 - Present14 years 4.