MICHEAL Larson was the subject of a number of allegations while working for multibillionaire Bill Gates.
The 61-year-old financial expert is said to have created a “culture of fear”. Here’s what we know about him.
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Micheal Larson works for the multibillionaire Bill GatesPhoto credit: Getty
Who is Michael Larson?
Michael Larson is an American money manager who serves as the chief investment officer for The Gates Foundation.
He studied at Claremont McKenna College for three years and earned a degree in economics before earning an MBA from the University of Chicago at age 21.
After 35 years of investment experience, Michael Larson’s estimated net worth is at least $ 5.4 million as of January 31, 2021, according to Wallmine.
What is he doing for Bill Gates?
Micheal Larson has been managing Bill Gates’ funding since 1994, which is reportedly valued at nearly $ 130 billion.
According to Business Insider, Larson runs Gates ‘secret investment company Cascade Investment and manages Gates’ personal assets and those of his charitable trust.
The 61-year-old is largely accredited to help Gates make his big net worth after the software developer’s net worth got closer to $ 5 billion.
During his tenure, he is said to have managed 380 people.
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Larson has been responsible for financing Bill Gates since 1994Photo credit: Getty
What are the allegations against Michael Larson?
Mr Larson has been the subject of allegations, including racist statements, of showing nude pictures of women to his staff and making sexist and racist comments.
A New York Times report alleges that Larson engaged in a pattern of workplace misconduct that approached bullying, thereby creating a “culture of fear.”
In one case, the Times alleges that Larson attempted to hurt the stock price of a company for which an employee left Cascade.
Stacy Ybarra announced to Larson in early 2004 that she would be joining InfoSpace from Cascade, where she was an investor relations analyst three years earlier.
Larson apparently got so angry that he sold InfoSpace’s stock short. Two people told the Times they saw Larson’s trades on his computer.
He is alleged to have told Ybarra that, out of spite, he cut the company’s shares and pressured her to stay with the company, which she did.
That same year, on election day, Larson asked several Cascade employees when was the best time to vote.
When Ybarra, a black woman, replied that she voted that morning without standing in line, Larson allegedly replied, “But you live in the ghetto and everyone knows that blacks don’t vote.”
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Larson allegedly gave Stacy Ybarra threats and racist comments on a number of allegationsPhoto credit: Facebook
The report, which includes reports from 10 former employees as well as others familiar with Larson, said at least six people – four of whom were Cascade employees – complained to Gates about Larson’s behavior.
The report claims some of them also complained to Gates’ wife, Melinda.
Cascade reportedly made payments to at least seven people who witnessed or had knowledge of Larson’s actions while they never discussed their time at the company.
As the company hired more people – and Gates’ fortune grew as Larson invested in farmland, hotels, stocks, bonds, and even a bowling alley – the employees saw Larson as unwaveringly supported by Gates.
Gates’ lack of response to Larson added additional power that Larson wielded, according to the report.
Larson and spokesman Chris Giglio have denied some, but not all, of his alleged wrongdoings.
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“During his tenure, Mr Larson has administered over 380 people and there have been fewer than five total complaints related to him,” said Giglio.
“Every complaint has been investigated and seriously and fully considered, and none merited Mr Larson’s dismissal,” he added.
