Who doesn’t know who Bill Gates is? Children maybe. But believe it or not, most hardworking employee, aspiring businessmen and even bums know him particularly for being the richest man in the United States and one of the richest of the rich all over the world.
According to his Forbes profile which is updated real time, Bill Gates’ net worth of an astounding $79.6 billion as of June 2, 2015 and he gets richer every single day.
This 59-year-old Washington-man made himself rich despite being a college dropout from Harvard University after he founded Microsoft.
William Henry Gates III, born on October 28, 1955, is the founder of one of the world’s largest computer software companies. He has also been crowned the Richest Person In Every State of the U.S. by Forbes not only once or twice, but multiple times. He also topped the Forbes 400 list and had been deemed the 7th Most Powerful People in the world in 2014.
But how did he achieve all this wealth and power?
Julie Bort, a correspondent from Business Insider, revealed that Gates was able to maintain his wealth because of a single person you may probably have never heard of. His name is Michael Larson.
More than two decades ago, Gates hired Larson when the Microsoft founder’s net worth was just at $5 billion. After getting Larson on board, Gates immediately earned more than he could ever have from his profits from Microsoft alone.
You see, Larson is the person in charge of running Cascade Investment LLC, Gates’ investment company. But unlike Gates, Larson is a notoriously secretive person and doesn’t enjoy the limelight.
While Gates manages his own tech-related investments, Larson puts his money on different companies, diversifies it and brings more income to Gates rapidly growing wealth. Among the companies where Larson puts Gates’ money include AutoNation Inc., Canadian National Railway Co., and Republic Services Inc.
Because of this, Gates became confident enough to sell out and even give away some of his shares in Microsoft particularly to the Bill & Melinda Gates Foundation back in November.
Aside from that, Gates is also donating a hefty $38 billion to his foundation regularly. Instead of making him less rich, this move actually makes him richer, because of Larson.
Because of this, Larson had been nicknamed as “the Gateskeeper” during a gala organized to celebrate Gates partnership with him.
During that event, Gates even emphasized that he has “complete trust and faith” in the man that he gives Larson full control over his investments.
Gates’ faith in Larson, according to the Journal, is well-placed simply because he is good at what he does. He has different strategies that keep the name of Gates and Cascade from being used by other companies while maintaining a good investment relationship with them.
Reports also revealed that Larson is frugal and wise when it comes to his boss’s money, allowing Gates and his wife to move freely without thinking about the implications on their wealth.
“Melinda and I are free to pursue our vision of a healthier and better-educated world because of what Michael has done,” Gates told the guests. After that, the couple pledged to donate 95% of their wealth to their charitable foundation.