Cascade Investment LLC is the private investment firm founded and solely owned by philanthropist and Microsoft co-founder Bill Gates. Cascade manages the assets of the Bill & Melinda Gates Foundation as well as the personal funds of Gates and his family. The firm quietly makes big, influential investments across industries such as finance, tourism, energy, and more. Cascade Investment’s holdings include shares of several prominent public and private companies as well as ownership of large tracts of agricultural land. Overall, Cascade reflects Gates’ strategic and value-oriented investment philosophy. The investment firm is an integral part of Gates’ broader portfolio and his vision for driving progress globally.
Bill Gates solely owns and controls Cascade Investment
Cascade Investment was established in the 1990s to manage Gates’ wealth and that of his foundation. Gates is the sole owner and thus has total control over Cascade’s investment decisions and portfolio companies. The firm operates very privately, rarely discussing its investment moves publicly. Michael Larson has been at the helm of Cascade since 1995. Larson’s strong track record has earned him Gates’ trust to manage his investments.
Cascade owns major stakes in several public companies
Some of Cascade’s more high-profile equity holdings are in well-known public companies. For instance, Cascade is the largest shareholder in Four Seasons Hotels and Resorts with a 71% stake. It also owns big positions in companies like Deere & Co., AutoNation, Canadian National Railway, and Republic Services. Cascade aims for strategic stakes that allow it to exert influence on or outright control companies.
Cascade invests heavily in alternative assets
Beyond public equities, Gates has directed Cascade to put capital to work across a diverse collection of alternative assets. The firm owns more than 100,000 acres of farmland across dozens of US states. It also invests substantially in private equity, hedge funds, venture capital funds, and real estate. These alternatives help diversify Gates’ wealth and may opportunistically generate higher returns.
Cascade’s approach aligns with Gates’ philosophy
Cascade’s patient, value-focused strategy mirrors that of its founder and owner. Gates has consistently emphasized steady long-term gains over quick profits. The firm concentrates its investments in areas like healthcare, technology, energy, and sustainability that serve Gates’ objective of driving innovation and economic growth broadly. Cascade is a key pillar within Gates’ broader portfolio, which also includes personal angel investing and philanthropic activities.
In summary, Cascade Investment is the quiet but influential investment firm solely owned and controlled by Bill Gates. Cascade manages Gates’ personal fortune as well as the endowment of his foundation by investing in public stocks, alternative assets, and private holdings in line with Gates’ philosophy. The secretive firm holds major stakes in companies across several industries and substantial farmland holdings.