Allegations of financial misconduct against Michael Larson, who manages the foundation’s money as well as a portion of Bill and Melinda’s personal wealth, should prompt a closer look.
Is it finally time to investigate the Gates Foundation?
Following weeks of allegations that Bill Gates has acted inappropriately toward female employees, The New York Times last week reported that the Gates Foundation’s money manager also stands accused of sexual misconduct—as well as bullying and racism.
The allegations against Michael Larson, which he denies, are both long-standing and long known to both Bill Gates and Melinda French Gates, according to the Times, and they contribute to a widening institutional crisis around the Gates Foundation, whose leadership is characterized as negligent, dysfunctional, and abusive.
But buried in the Times story is also an allegation of financial misconduct that governance and tax experts say should trigger official investigations into the foundation, and prompt us to rethink governance rules over billionaire philanthropy.