Fascinating profile of Michael Larson, the head of Cascade Investment LLC — aka, the secretive fund that invests most of Bill Gates’ wealth. A couple fun tidbits from Anupreeta Das & Craig Karmin’s reporting:
The firm owns at least 100,000 acres of farmland in California, Illinois, Iowa, Louisiana and other states—or an area seven times bigger than Manhattan.
Cascade employees are expected to be frugal. Even though Mr. Gates owns nearly half of the Four Seasons Holding Inc. luxury-hotel chain through Cascade, the investment firm’s executives stay at less-expensive hotels, even when traveling on Four Seasons business.
They also own the Charles Hotel in Cambridge, Massachusetts, the Ritz-Carlton in San Francisco, and a 490-acre ranch in Wyoming once owned by William F. “Buffalo Bill” Cody.
I wonder if the value of being frugal was instilled into the employees by Gates or by Cascade.