Monday
March 18
2019

Viewpoint: Bill McGlashan’s firing exposes hypocrisy in impact investing

By Felix Salmon

In a big week for hypocrisy, the leader of the pack was surely Bill McGlashan, the CEO of the world’s largest impact investing fund.

McGlashan, who was once described by the New York Times as resembling “a Buddhist monk,” led a multibillion-dollar investing vehicle designed (among other things) to “expand access to educational attainment.” Simultaneously, he was allegedly spending $250,000 of his own money to bribe his son’s way into a selective university.

McGlashan was fired on Thursday, an action he claimed to be “perplexed” by. (It seems that McGlashan just can’t avoid lying: There’s no way he didn’t know why his bosses wanted to fire him rather than allowing him to resign.)

Source: Axios (link opens in a new window)

Categories
Investing
Tags
higher education, impact investing, impact investors, social impact