Cascade Investment
Cascade Investment, L.L.C. is an American holding company and private investment firm headquartered in Kirkland, Washington, United States. [2] It is controlled by Bill Gates, and managed by Michael Larson.[3] More than half of Gates's fortune is held in assets outside his holding of Microsoft shares.[4] Cascade is the successor company to Dominion Income Management, the former investment vehicle for Gates's holdings, which was managed by convicted felon Andrew Evans.[5]
Company type
1995
US$70 billion (2021)
Bill Gates
100[1]
- Front Range Investment Holdings LLC
- Cottonwood Management LLC
- Lakeland Sands Florida, LLC
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.[6] Larson accrued over the twenty years from 1995 an 11% compound annual return,[6] and as of 2014 had 100 employees working under his direction.[1] In 2021, Cascade drew attention due to allegations of toxic work environment caused by Larson.[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.[8]
Cascade has managed Gates' stake in Canadian National Railway since 2013.[9] This constituted one of the investment firm's largest holdings.[10] In 2022, the company sold $940 million worth of stocks, whittling Gates' stake down to 1.4 percent.[9]