Cascade Investment

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Cascade Investment, L.L.C.
TypePrivate
IndustryInvestments
Conglomerate
Founded1995; 26 years ago (1995)
FounderBill Gates
Headquarters
Kirkland, Washington
,
United States
Key people
Bill Gates (Chairman)
Michael Larson (CIO)
Total assetsUS$70 billion (2021)
OwnerBill Gates
Number of employees
100[1]
Subsidiaries
  • Front Range Investment Holdings LLC
  • Cottonwood Management LLC
  • Lakeland Sands Florida, LLC
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Cascade Investment, L.L.C. is an American holding company and private investment firm headquartered in Kirkland, Washington, United States. It is controlled by Bill Gates, and managed by Michael Larson.[2] More than half of Gates' fortune is held in assets outside his holding of Microsoft shares.[3] Cascade is the successor company to Dominion Income Management, the former investment vehicle for Gates' holdings, which was managed by convicted felon Andrew Evans.[4]

Larson controls as Chief Investment Officer, and as such manages Gates' personal wealth through Cascade, "as well as handling the Bill & Melinda Gates Foundation Trust endowment."[5] Cascade "does not like to call itself" a family office and Bill and Melinda Gates Investments "does not label itself as a family office."[5] Larson accrued over the twenty years from 1995 an 11% compound annual return,[5] and as of 2014 had 100 employees working under his direction.[1]

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.[6]

Notable investments[]

Company Ticker Sector Ownership %
Four Seasons Hotels and Resorts Private Hospitality 47%[5][7]
Ecolab NYSE: ECL Conglomerate 25%[8]
Canadian National Railway
Rail transport 14.2%[9]
FEMSA
Beverage and Retail [5]
Berkshire Hathaway
Conglomerate 4%[5]
Strategic Hotels & Resorts Private Hospitality 9.8%[5][10]
Republic Services NYSE: RSG Waste management 34.1%[11]
Deere & Company NYSE: DE Agricultural, construction, forestry, outdoor power and turf maintenance equipment. OEM diesel and natural gas engine manufacturer. 10.06%[12]
Bunzl LSE: BNZL Distribution and Outsourcing 6%[5]
Carpetright Private Retail 3%[5]
Diageo
Beverages 1.56%[13]
AutoNation NYSE: AN Car dealership 14%[2][14][15]
Microsoft Nasdaq: MSFT Software and Hardware conglomerate 3.6%[2]
Beyond Meat Nasdaq: BYND Food [2][16]
Ritz-Carlton in San Francisco Private Hospitality [1]
TerraPower Private Nuclear power [2]
Transformco Private Retail and real estate Debt interest[17]
Vroom Nasdaq: VRM Car dealership [18]
StorageMart Private Self-storage [19]

References[]

  1. ^ a b c Bort, Julie (September 20, 2014). "Meet Bill Gates' Investment Manager". Slate. Retrieved April 3, 2021.
  2. ^ a b c d e Das, Anupreeta; Karmin, Craig (September 19, 2014). "This Man's Job: Make Bill Gates Richer". The Wall Street Journal. Retrieved April 3, 2021.
  3. ^ Miller, Matthew (March 5, 2008). "Gates No Longer World's Richest Man". Forbes. Retrieved April 3, 2021.
  4. ^ Torres, Craig (March 7, 1993). "Convicted Felons Handle Gates Fortune". The Seattle Times. Retrieved April 3, 2021.
  5. ^ a b c d e f g h i Warwick-Ching, Lucy (October 21, 2015). "Cascade Investment, Bill Gates' wealth manager". Financial Times. Retrieved April 3, 2021.
  6. ^ "Bill Gates uses farmland as an investment outlet buying up potato, carrot and onion farms". NBC News.
  7. ^ "Four Seasons Hotels agrees to bid from Gates and Alwaleed". The New York Times. February 12, 2007. Retrieved April 3, 2021.
  8. ^ Stych, Ed (May 7, 2012). "Bill Gates' stake in Ecolab could get bigger". American City Business Journals. Retrieved April 3, 2021.
  9. ^ "Canadian National Railway Company | SC 13G". U.S. Securities and Exchange Commission. December 31, 2019. Retrieved April 3, 2021.
  10. ^ Gallun, Alby (August 10, 2015). "Could Bill Gates be the next owner of Strategic Hotels?". Crain's Chicago Business. Retrieved April 3, 2021.
  11. ^ "Republic Services, Inc. | DEF 14A". U.S. Securities and Exchange Commission. March 24, 2020. Retrieved April 3, 2021.
  12. ^ "Deere & Company | DEF 14A". U.S. Securities and Exchange Commission. January 8, 2021. Retrieved April 3, 2021.
  13. ^ "See how @DiageoGB scores on #water stewardship in face of #climatechange in new @Ceresnews analysis". Feeding Ourselves Thirsty. Retrieved 2021-04-13.
  14. ^ Bort, Julie (Mar 20, 2019). "Bill Gates is $9.5 billion richer than he was a year ago, worth over $100 billion, but not just from Microsoft". Business Insider. Retrieved April 3, 2021.
  15. ^ "Cascade Investment – Portfolio Holdings". Fintel.io. Retrieved April 3, 2021.
  16. ^ Gunther, Marc (October 3, 2013). "The Bill Gates-backed company that's reinventing meat". Fortune. Retrieved April 3, 2021.
  17. ^ Zumbach, Lauren (June 4, 2018). "Sears gets more time to repay lenders, including funds tied to CEO Edward Lampert and Bill Gates". Chicago Tribune. Retrieved April 3, 2021.
  18. ^ "Vroom, Inc. | S-1". U.S. Securities and Exchange Commission. May 18, 2020. Retrieved April 3, 2021.
  19. ^ Herald, C. R. E. (October 14, 2020). "Bill Gates' Cascade Investment, GIC buy stakes in StorageMart". CRE Herald. Retrieved April 3, 2021.

External links[]


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