Business & Tech

Longtime Gates Wealth Manager Had 2017 Harassment Complaint: NYT

A report details a rift in the marriage arose from the handling of a sexual harassment complaint against their Kirkland-based money manager.

Bill Gates speaks during the Lin-Manuel Miranda In conversation with Bill & Melinda Gates panel at Hunter College on February 13, 2018, in New York City.
Bill Gates speaks during the Lin-Manuel Miranda In conversation with Bill & Melinda Gates panel at Hunter College on February 13, 2018, in New York City. (John Lamparski/Getty Images)

KIRKLAND, WA โ€” A lengthy report in the New York Times on Sunday, detailing allegations of inappropriate workplace advances by Bill Gates, revealed a previously unknown sexual harassment claim against the Gateses longtime wealth manager.

According to the Times, Michael Larson has managed the Bill and Melinda Gates' gargantuan investment portfolio for decades, under a firm named Cascade Investment, based in Kirkland. The holding company's investments have included sizable stakes in Four Seasons Hotel and Resorts and Republic Services, a waste management company.

The Times reports Larson was accused of sexually harassing the owner of a neighboring bike shop in 2017, who then reached out to the Gateses for help resolving the situation instead of legal action. According to the Times, Melinda Gates pressed for an external investigation into Larson's behavior and Cascade's office culture, but he was ultimately reinstated and the matter resolved with a quiet settlement agreement.

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Related: Bill Gates Keeps Leadership Roles Despite Allegations


The newspaper reported Larson remains the financial manager, and his spokesperson did not comment on the story. The case was the latest in a growing number of newly revealed rifts leading up to the Gateses divorce announcement this month, including reports that Melinda Gates sought to end the marriage over Bill Gates' social relationship with convicted sex offender Jeffrey Epstein.

Find out what's happening in Kirklandfor free with the latest updates from Patch.

The Gateses divorce proceedings officially began Friday, and it remains to be seen how one of the world's wealthiest couples will divide their assets.

Read more in the New York Times.

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