The man responsible for managing the vast majority of billionaire Bill Gates’ fortune has been the subject of claims including racist remarks, showing nude pictures of women to his staff and making sexist comments, the New York Times has reported.

In an extensive investigation the newspaper said that Michael Larson, who runs Cascade Investments, had created a “culture of fear” where the employee abuses had occurred. Cascade’s sole function is to manage the fortune of Gates and Melinda French Gates, who have turned their wealth into a powerhouse of global philanthropy but are now divorcing.