Michael Larson, Money Manager at Bill and Melinda Gates Investments Photo: WSJ

Bill Gates’ Wealth Manager creates ‘culture of fear’ for staff in workplace ─Report

*Michael Larson, who runs the Gates’ Cascade Investments, is subject of claims, including racist and sexist remarks, alleged creation of a ‘culture of fear’ over employee abuses in the workplace

Alexander Davis | ConsumerConnect

With some describing the Bill and Melinda Gates Investments (BMGI) workplace a toxic work environment, the man responsible for managing the vast majority of multibillionaire Bill Gates’ fortune has been the subject of claims, including racist remarks, showing nude pictures of women to his staff and making sexist comments.

In an extensive investigation, Michael Larson, who runs Cascade Investments, was said to have created a “culture of fear” where the employee abuses had occurred, reports the New York Times (NYT).

It was gathered that Cascade’s 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.

The source, which said it had interviewed numerous former Cascade employees, reported that Larson had “judged female employees on their attractiveness, showed colleagues nude photos of women on the Internet, and on several occasions made sexually inappropriate comments.

“He made a racist remark to a Black employee.”

NYT stated: “He bullied others. When an employee said she was leaving Cascade, Mr. Larson retaliated by trying to hurt the stock price of the company she planned to join.”

Accordingly, a spokesman for Cascade in a statement to the newspaper said: “During his tenure, Mr. Larson has managed over 380 people, and there have been fewer than five complaints related to him in total….

“Any complaint was investigated and treated seriously and fully examined, and none merited Mr. Larson’s dismissal.”

Cascade is also referred to as Bill and Melinda Gates Investments.

According to Larson, “calling BMGI a toxic work environment is unfair to the 160 professionals who make up our team and our culture.”

Courtney Wade, a spokeswoman for French Gates, also said: “Melinda unequivocally condemns disrespectful and inappropriate conduct in the workplace.

“She was unaware of most of these allegations, given her lack of ownership of and control over BMGI.”

However, in regard to what the future holds for Bill and Melinda Gates in this regard, ConsumerConnect had reported French Gates and Gates said they are continuing their work at the Bill and Melinda Gates Foundation.

French Gates recently tweeted: “We continue to share a belief in that mission and will continue our work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives.”

Her divorce petition said the couple’s marriage was “irretrievably broken”, but also indicated that the pair had inked a “separation contract” that ironed out several potential points of contention.

But then, the couple were not able to avoid feverish press scrutiny, including on Gates’ behaviour and his links to the disgraced financier Jeffrey Epstein.

Kindly Share This Story