Cascade Investment
Also known as Cascade Investment, L.L.C.
Office managing Bill Gates's personal fortune under Michael Larson; holds public stakes, farmland and private assets, including a 71.25% controlling stake in Four Seasons Hotels.
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Private investment office managing Bill Gates's personal fortune, run by Michael Larson. Not other firms named Cascade Investments or Cascade Capital, and not Boise Cascade.
Family & background
- FAMILY
- Gates
- WEALTH ORIGIN
- Technology (Microsoft co-founder Bill Gates)
- HEADQUARTERS
- United States
Investment approach
- STAGES
- Buyout
- ROUTES
- Companies (own capital)
Overview
Cascade Investment, L.L.C. is the private investment office that manages Bill Gates's personal fortune; it is run by Michael Larson, whom Bill and Melinda Gates hired in 1994 to diversify their personal assets, and Fox Business reports that it also manages the Gates Foundation endowment. Holdings named in the press include a stake in AutoNation, the Charles Hotel in Cambridge, Massachusetts and upward of 100,000 acres of farmland. In February 2021 Cascade joined Blackstone and Global Infrastructure Partners in a consortium for the $4.73 billion take-private of Signature Aviation. Its private holdings include Four Seasons Hotels and Resorts: in September 2021 a Cascade affiliate agreed to buy half of the 47.5% stake held by an affiliate of Kingdom Holding for $2.21 billion, raising Cascade's ownership from 47.5% to 71.25% at a $10 billion enterprise value. In August 2026, 24/7 Wall St. reported from Form 4 filings that Cascade was still adding to its roughly 10% stake in Republic Services, where Larson sits on the board.
Holdings & investments (3)
- Signature AviationNOTABLE
- The Charles Hotel (Cambridge, MA)Real Estate & PropTech
People
- Michael LarsonChief Investment Officer (identified as "business manager" in 2026 Form 4 filings) · source
Frequently asked questions
Cascade Investment is a single family office based in the United States.
Cascade Investment invests on behalf of the Gates family (Technology (Microsoft co-founder Bill Gates)).
Cascade Investment invests its own capital into companies.
Cascade Investment invests at Buyout stage.
Key people at Cascade Investment include Michael Larson (Chief Investment Officer (identified as "business manager" in 2026 Form 4 filings)).
Cascade Investment's holdings and investments include Four Seasons Hotels and Resorts, Signature Aviation and The Charles Hotel (Cambridge, MA).
The most recent publicly reported investment by Cascade Investment is Four Seasons Hotels and Resorts (Controlling stake acquisition (47.5% to 71.25%)), announced in Sep 2021.