The Motley Fool has a disclosure policy. While trying to buy a Chicago-based money management firm, Larson received a call from a head hunter to work for Bill Gates. Powered and implemented byFactSet Digital Solutions. The report, which includes narratives from ten former employees as well as others familiar with Larson, said at least six people - four of whom Cascade employees - complained to Gates about Larson's behavior. 3 Michael Larson works for for multi-billionaire Bill Gates Credit: Getty Who is Michael Larson? "Any complaint was investigated and treated seriously and fully examined, and none merited Mr. Larson's dismissal. "There's a clear process for employees, contractors and partners to share concerns either anonymously or by name, and any issue raised over the company's history has been taken seriously and resolved appropriately," the spokesperson continued. Michael Larson: Timeline of Allegations Against Bill Gates - Newsweek An investigation by a law firm concluded the accusation couldn't be substantiated, and Larson returned to work at Cascade after a leave of absence. Over the course of his tenure, he is said to have managed 380 people. He sees Republic Services, AutoNation, and Ecolab as all having long-term potential. Still a great job: Making sure Bill Gates stays rich - May 3, 2004 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. A Timeline of Bill Gates and Jeffrey Epstein's Relationship. Adria Cimino has no position in any of the stocks mentioned. took them very seriously" and hired an independent lawyer to investigate," Larson's spokesperson, Giglio said. But the Case Is Far From Settled, Crypto Project Multichain Shuts Down, Says CEO Arrested in China, Stablecoin Operator Shifts TrueUSD Control to Offshore Owner. That means that we shouldn't wait for the market to take off to start buying, either. Third, Woodson adds, the generational shift in control of family wealth has changed what family offices focus on and how they are structured. The stock market rally in the first half of the year helped one of the world's most famous billionaires score a big win. Nothing? Now, let's talk about the importance of holding for the long term -- by this, I mean at least five years. 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Market-beating stocks from our award-winning analyst team. Its five largest publicly disclosed equity holdings are: Canadian National Railway; Republic Services, the waste removal company; Ecolab, the disinfectant maker; Femsa, the drinks group; and Deere, the maker of agricultural machinery. Bill Gates' money manager, Michael Larson, has come under scrutiny as recent details have surfaced alleging inappropriate workplace behavior. And if you're earlier in your investing journey, any time is the right time to start buying stocks with bright long-term prospects. Second, there are more family offices as a result of the increase in wealth globally and greater information is available about best practice and resources. All this means if you're already heavily invested in stocks -- wonderful. In 2008, it bought a 3 per cent share of Carpetright, the flooring retailer, but has since reduced its stake. They've advanced at various rates over the past five years, as shown in the chart. An investment firm paid at least seven settlements to people who are alleged to have witnessed workplace misconduct by Bill Gates' money manager Michael Larson, The New York Times reported Wednesday. Cascade Investment paid settlements to at least seven people. Kevork Djansezian/Getty Images. "Any complaint was investigated and treated seriously and fully examined, and none merited Mr. Larsons dismissal," Giglio added. A Culture of Fear at the Firm That Manages Bill Gates's Fortune The family office market can take many forms, from a single former executive assistant helping a patriarch/matriarch, to a 40-person professional investment organisation that also deals with personal affairs. An investigation was opened by Microsoft's board of directors after they were notified that Gates had "sought to initiate an intimate relationship with a company employee in the year 2000," Frank X. Shaw, a Microsoft spokesman, said earlier this month. The woman hired a lawyer in 2017 and wrote a letter to Gates and French Gates threatening to sue the couple if Larson's alleged advances didn't stop. He is responsible for Mr. Gates' non-Microsoft investments as well as the investment assets of the Bill & Melinda Gates Foundation Trust. New. Bill Gates Divorce Casts Harsh Glare on $170 Billion Money Manager Larson has managed Bill Gates' finances since 1994, which is reportedly worth nearly $130billion. . Bill Gates' Money Manager Made Racist, Sexual Remarks: NYT Michael Larson, the man who has been the manager of the vast majority of Bill Gates' billion-dollar fortune has been accused of creating a "culture of fear" among staff. The report states that Larson made inappropriate comments about female staff members and also made a racist comment to a Black employee. The newspaper . Meet Michael Larson, the man who has managed Bill Gates' fortune for NOW WATCH: Bill Gates has a net worth of over $96 billion here's how he makes and spends his money, Larson's alleged inappropriate workplace behavior. The investment firm holds 35%, 21%, and 11% of these companies, respectively, the report showed. (David Paul Morris/Bloomberg via Getty Images), Fox Business Flash top headlines for May 27. Cascades sole function is to manage the fortune of Gates and Melinda French Gates, who have turned their wealth into a powerhouse of global philanthropy but are now divorcing. Stacy Ybarra told Larson in the spring of 2004 that she would be moving on from Cascade - which she joined three years earlier as an investor relations analyst - to work at InfoSpace. The three stocks have climbed in the double digits since the start of the year. - https://bit.ly/YTFINaiUSFebBill Gates has a . Michael Larson (born October 1959) is an American money manager. When Ybarra, a Black woman, responded she voted that morning without waiting on line, Larson allegedly retorted: "But you live in the ghetto, and everybody knows that Black people dont vote.". [1] ", Gates' reported connections to the convicted sex offender Jeffrey Epstein have also resurfaced since news of the divorce broke. Sign up for notifications from Insider! But that doesn't mean it's too late to buy the stock. Check out what's clicking on FoxBusiness.com. This change is not only happening among high-end investment firms; lawyers and accountants too are coining new phrases. This Is The Man Who's Making Bill Gates So Rich US and Europe Chide Hungary Over Anti-LGBTQ Laws Ahead of Pride March, UK Finance Industry Faces Parliament Probe Over Sexism, Misogyny, European Power Prices Fall Below Zero With Green Power Boom, Worst American City for Pensions Confronts a $35 Billion Crisis, NYCs New BudgetForcesTransparency From Police, Other Agencies, Crypto Market Is Celebrating SECs Setback in Ripple Suit. Every day -- regardless of the market environment -- represents an opportunity to find a terrific stock. In 2004, employee Stacy Ybarra alleges that Larson tried to stop her from leaving her role at Cascade to pursue a job at another company. The New York Times reported that the handling of the situation had put Bill and Melinda Gates at odds. Former employees of Cascade Investment told the outlet that Michael Larson showed coworkers photos of naked women, judged female colleagues' attractiveness in front of male employees, and fostered a "culture of fear" at the firm tasked with growing the Gateses' wealth. At least six employees had told Gates several of whom also approached his wife, Melinda French Gates to complain about Larson's misconduct, according to The Times report. He then earned an MBA from the University of Chicago at the age of 21. Learn More. Home | Street Talk Tags: bill gates | divorce | michael larson Gates's $170 Billion Money Manager in the Spotlight Amid Divorce Controversy Melinda Gates and Bill Gates of the Gates Foundation, winners of the Public Service Award, at The Lasker Awards 2013 on Sept. 20, 2013, in New York City. Michael Larson has served as chief investment officer since that time. Bill Gates hired Larson 22 years ago to take over the investment of his personal wealth, which was about $5bn at the time. Insider also reached out to a spokesperson for Larson, Chris Giglio, for additional comment on the report. Sign up for the 10 Things in Tech daily newsletter. Carefully crafted low profile cracks for Larson's Cascade.