michael larson cascade email

The shop was partially owned by Rally Capital, a firm that Cascade had invested in. Larson's net worth is projected to be in the millions, though it's unclear where the number lies. With a high-profile job adjacent to a billionaire duo, Larson gets a sliver of the Bill and Melinda Gates investments. Aside from detracting attention from the Gateses, Larsons main mandate has been to invest conservatively try to maximize returns but dont lose money, one of the people said. According to the report, Larson would judge female coworkers based on their attractiveness to other male employees and showed pictures of nude women to coworkers and compare the photos to a female human resources executive. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Larson also holds Berkshire Hathawayhe owned 300 shares last year and recently bought a bunch morewhich he thinks became particularly attractive after its Gen Re acquisition. ' . What they signal is that family wealth investment management is big business. In addition, he is Chairman of the Board of Trustees for Western Asset/Claymore Inflation-Linked Securities & Income Fund and Western Asset/Claymore Inflation-Linked Opportunities & Income Fund. In one instance, sources told The Times that Larson made a racist comment to former employee Stacy Ybarra, who is Black. Email. Copyright 2022 Printline Media Pvt. Ecolab.com uses cookies to give you the best possible experience. Gates already knew about the conviction, but began looking for someone new after the uproar. Access your favorite topics in a personalized feed while you're on the go. You must click the activation link in order to complete your subscription. Thank you for your continued support. ("Cascade"), of which I am the General Counsel. Manager, Investment at Cascade Funding . He holds some inflation-protected Treasury bonds called TIPs, and plain-vanilla corporate bonds like Ford, Du Pont, and Time Warner (parent of Time Inc., FORTUNEs publisher). After two years, he struck out on his own. Same platform but with new and improved features. Cascade held investments in oil and gas companies until 2019, Gates said in his recent book about climate change. He is the chief investment officer for The Gates Foundation and Bill Gates' fortune, through the Cascade Investment fund. Cascade is not a family office in the traditional sense and does not like to call itself one. 10%. One remarkable feature of the portfolio is how little it changes. Based in Kirkland, Wash., and run by Michael Larson, a former. It so happens that one of Larsons interests is media stocks. 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. 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. A former bond-fund manager, he won Gatess loyalty by delivering consistent returns and instilling in employees the notion that their primary focus was to protect their benefactors good name, according to people familiar with Cascade, who asked not to be named speaking about the companys inner workings. At the time, the portfolios both for the foundation and for the Gateses personal money mostly consisted of bonds, with some bets on private equity, commodities, Florida real estate and British hotels. This has meant that more money has been created to go into the foundations mission to fight disease and improve education in the developing world. From there Larson went to work for Arco doing mergers and acquisitions. Bill Gates has said about Michael Larson Since Microsoft is my primary focus, I wanted someone who could operate on their ownI also wanted someone with a conservative philosophy about investing. de C.V. Cascade Investment, L.L.C. He is the chief investment officer for Bill and Melinda Gates Investments (BMGI), and as such is. Theres hardly a worry about fundraising, client withdrawals or onerous regulations. I am writing on behalf of Michael Larson, who is the manager of Cascade Investment, L.L.C. [8], Cascade has managed Gates' stake in Canadian National Railway since 2013. Larson was a student of Professor Jerry St. Dennis while at Claremont McKenna College. Michael Larson is Bill Gates private money managerand runs Gates personal investment company Cascade Investment LLC, funded solely by Gates. FIND MICHAEL LARSON Created on May 09, 2013 by Spoke Edited on May 09, 2013 by Spoke PAGE COMPLETION. 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. Of the nonbond portion of Gates portfolio, another $250 million is in what Larson calls real stuff.. Its basically the same strategy most individual investors engage in.. Family business consulting, private company services and even strategic philanthropy advice have joined the lexicon of wealth management for the extremely rich, she says. 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. Who is Michael Larson? Michael Larson also manages the funds for the Bill Gates Foundation. His response: My investment group chose to do this.. jane.doe@cascadeinvestors.com), which is being used by 100.0% of Cascade Investment work email addresses. Larson, 61, has worked for Gates through Cascade since 1994. Well send you a myFT Daily Digest email rounding up the latest US news every morning. Mission: Providing a framework to improve your investing PROCESS, while collecting newsworthy information about trends in business, politics and tech areas. Based in Kirkland, Washington, Cascade shies away from media attention. So he came out, and the two men hit it off. Buffett is one of the Gates Foundations three board members alongside Gates and French Gates, but has no involvement in investment decisions of the endowment, according to the foundation. Michael Larson (born October 1959) is an American money manager. Cascade's most recent Form 13F filed with the SEC showed assets of $2.1 billion. Michael Larson has for decades managed Bill Gates' fortune, which is worth nearly $130 billion. [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. In August, it increased its stake in Strategic Hotels and Resorts to 9.8 per cent. Catherine Tillotson, managing partner of Scorpio Partnership, the consultancy, says: A tour around Londons elite wealth management boutiques reveals the growing popularity of the term private investment office. Larson attended Valley High School in Albuquerque. "I regret this greatly but have done a lot of work to change.". By providing your email address below, you are providing consent to Ecolab Inc. to send you the requested Investor Email Alert updates. We encourage you to review our Privacy Policy. 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. 5 free lookups per month. Who is Michael Larson? Cascade Investment paid settlements to at least seven people who witnessed Larson's behavior, The Times reported. About 5% of Gates portfolio is farmed out to managers like McNamees Integral Capital Partners and Blue Ridge Capital, a New York hedge fund run by John Griffin, former right-hand man of Julian Robertson at Tiger Management. First, an industry has developed around supporting family offices. 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. Agricultural, construction, forestry, outdoor power and turf maintenance equipment. According to Cascade, this is a low ratio. He assumed the role in 1994. He also has a small amount of money with Bill Fleckenstein, who runs a short-selling fund. [citation needed], Larson is a regular attendant of the Allen & Company Sun Valley Conference. Gates money manager had to be smart, trustworthy and as clean as a whistle. The portfolio is pretty conservatively positioned right now for a couple of reasons, says Larson. By using Ecolab.com, you consent to our use of cookies. Michael Larson's Phone Number and Email Last Update. In addition, as a professional investor and as the chief investment officer of Ecolabs largest stockholder, Mr. Larson brings a long-term stockholder perspective to the Board. The Wall Street Journal profiled Larson in 2014, summarizing his job as to "make Bill Gates richer.". The rebranding is the latest step in the unfolding story of what will happen to one of the worlds largest fortunes when Gates and French Gates finalize their divorce. Larson is the chief investment officer for the Bill & Melinda Gates Foundation. Michael Larson is Bill Gates' private money manager and runs Gates' personal investment company Cascade Investment LLC, funded solely by Gates. Director of Ecolab since 2012. If you think about it, 90%-plus of Bills wealth is in a single technology stock. Apr 30, 2023 - Rent from people in le-de-France, France from $20/night. While trying to buy a Chicago-based money management firm, Larson received a call from a head hunter to work for Bill Gates. Mr. Larson has been chief investment officer for Mr. Gates and the Business Manager of Cascade Investment, L.L.C. Biography Chief Investment Officer to William H. Gates III. He also has served on several other public company boards providing him relevant corporate governance experience. [2] When Larson started at Cascade, informally known as BGI (Bill Gates Investments), he was the only employee. He has served as the Chair of the Investment Committee at the University of Washington.[4]. 1 objective is preservation of capital, he said, adding thats why family office portfolios are so diverse, including not just public equities, but also fixed income, commodities and assets such as art. Today’s top 694 Summer Internships jobs in Paris, le-de-France, France. Gen Re was in the S&P 500. Larson runs Gates' secretive investment company, Cascade Investment, and manages Gates'. What about the other 30%, or $1.5 billion? Since 1995, Michael Larson has delivered a compound annual return of 11% for the Gates Foundation and two predecessors, outperforming the S&P 500 stock index by more than one percentage point. Two decades ago, Larson put it more bluntly. He is the chief investment officer for the Bill & Melinda Gates Foundation, and Bill Gates' personal fortune through Cascade Investment. Formerly a director of AutoNation, Inc. Ecolab USA He favors cable stocks such as TCI and Liberty Media, as well as Cox Communications and Barry Dillers USA Networks. We look forward to providing you with even more cutting-edge market research, as Topio Networks. At Ecolab Inc., we promise to treat your data with respect and will not share your information with any third party. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders. Once loosely described as family offices or multi-family offices, this linguistic shift aims to put a finer point on their capabilities as independent advisers on family wealth.. He also owns some emerging-market debt and high-yield issues. Another reason bonds are attractive to Larson is that as new money streams in, scaling up in the fixed-income markets is much easier than in stocks. The price some of these guys are willing to pay to stay out of the news is high, said Tayyab Mohamed, co-founder of family office recruiting firm Agreus Group. Previously, Mr. Larson was at Harris Investment Management, Putnam Management Company and ARCO. These guys have discretion over the money we give them, but if I dont agree with their take on interest rates or the yen, Ill override them by hedging, Larson says. 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. Smaller investments include stakes in nuclear-reactor developer TerraPower LLC and meat-substitute maker Beyond Meat. Michael Larson Partner at Cascade Investment Location: Duluth, Minnesota Area Biography Chief Investment Officer to William H. Gates III. [2] It is controlled by Bill Gates, and managed by Michael Larson. The outcome of the investigation was not clear, but Larson kept his job, The Times said. Sources told The Times that the woman reached a settlement in 2018, signing a nondisclosure agreement in exchange for a payment. First, it reflects my view of the markets. Michael Larson doesnt restrict himself to stocks; he looks at bonds, currencies, commodities, land, and direct investments in companies. If you do not wish to receive our cookies, adjust your browser settings. In 1996, he later hired Alan Heuberger, a fellow graduate of Claremont McKenna College. Market Realist is a registered trademark. The New York Times reported that the handling of the situation had put Bill and Melinda Gates at odds. The Times report also described sources as saying Gates had pursued female employees and been dismissive of French Gates in work meetings at Microsoft. Bill Gates' money manager Michael Larson was accused of making racist, sexist remarks to employees, The New York Times reported. "Years ago, earlier in my career, I used harsh language that I would not use today," Larson said in a statement to The Times. Michael Larson, 61, the man in charge at Gates's money-management firm, Cascade Investment, is reported to have judged women on their attractiveness and made sexually and racially. [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. The other reason we do equities is because we have some expertise in certain areas, and we make money at it.. $10 billion is farmed out to around 25 other money managers, helping to hide the trail and generate other ideas. 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. Sophie Alexander , Anders Melin and Tom Maloney 22 June, 2021 09:09 am IST Read More . A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global sustainability leader offering water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. It was long the biggest owner of Signature Aviation Plc, the worlds largest operator of private-jet bases, before joining a consortium that took the company private this year. That track record is broadly representative of Cascades overall returns, another person said. Jobs Number of Current Jobs 1 Michael Larson is the Chief Investment Officer at Cascade Investment. So where once the term family office was synonymous with the isolated management of an individual familys wealth, today it perhaps best describes a growing body of professional knowledge and an industry in its own right that includes both specialist and general practitioners.. The couples divorce announcement last month cracked the curated image. About half of it$750 millionis in what Larson calls private equity; thats buyout funds and direct investments, such as Gates stake in Teledesic, McCaws satellite company (Larson is on its board). Formerly a director of Pan American Silver Corp. 30 Apr 2023 20:37:03 He is the chief investment officer for the Bill & Melinda Gates Foundation, and Bill Gates' personal fortune through Cascade Investment. Larson has served on the Board of Trustees at Claremont McKenna College, Lakeside School and the United Negro College Fund. A spokesperson for the Gates Foundation told Insider in a statement: "BMGI is a professionally run organization with oversight and governance, including regularly occurring HR reviews that have taken place for over 20 years.

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