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File photo: Philanthropist Melinda Gates attends an international conference on health in developing countries, in Oslo, Norway.
WASHINGTON: Cascade Investment, the holding company created by Bill Gates, transferred stock in two of Mexico’s largest companies to Melinda French Gates, bringing the total amount she’s received in the past few days to more than $2 billion.
Cascade moved stock worth more than $500 million in Coca-Cola Femsa and Grupo Televisa to her control, according to regulatory filings dated May 3, the same day the Gateses announced they were ending their 27-year marriage. Cascade shifted about $1.8 billion of shares in Canadian National Railway Co. and AutoNation Inc. this week to French Gates, Bloomberg reported Tuesday.
It could also have ramifications for one of the most important philanthropic organisations on the planet.
The Bill & Melinda Gates Foundation has given away more than $50bn to support health care, education, gender equality and efforts to combat climate change.
Cascade transferred a stake worth about $120m in Coca-Cola Femsa and a holding valued at about $386m in Grupo Televisa to Ms Gates, according to Bloomberg calculations based on the filings.
Mr Gates, the 65-year-old co-founder of Microsoft, is worth $144.2bn, according to the Bloomberg Billionaires Index. Ms Gates, 56, is a former Microsoft manager who has gained international prominence co-running the foundation, and more recently for starting Pivotal Ventures, an investment and incubation company to advance “social progress” in the US.