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Earlier this week, Bill Gates and Melinda French Gates announced their divorce. On that same day, Melinda Gates became a billionaire.
Cascade Investment, Bill Gate’s investment vehicle, transferred nearly $2.4 billion in securities to Melinda Gates on Monday. The next day his net worth dropped slightly, from $130.4 billion to $128.1 billion, according to Forbes. However, Bill Gates maintained his status as the fourth richest person in the world.
He falls behind Jeff Bezos ($177 billion), Elon Musk ($157 billion) and Bernard Arnault and family ($150 billion).
Melinda Gates received 2.94 million shares of AutoNation and 14.1 million shares of Canadian National Railway Co., according to Forbes. AutoNation is worth $309 million and Canadian National Railway Co. is worth an estimated $1.5 billion.
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.
Provided by Dow Jones
By Theo Francis and Matt Grossman Bill Gates transferred stakes in a Coca-Cola bottler, Mexican broadcaster and other companies worth nearly $2.4 billion to Melinda Gates, as two of the world s richest people began dividing their wealth after f iling for divorce. The transfers were made on Monday, the same day the billionaire philanthropists revealed on Twitter that they were ending their marriage of 27 years. The stock transfers were disclosed in securities filings on Tuesday and Wednesday. Ms. Gates is now one of the largest shareholders in two Mexican companies: bottler Coca-Cola Femsa SAB and Grupo Televisa SA, a cable company and broadcaster, according to disclosures filed with the Securities and Exchange Commission.
May 6, 2021 2 min read
In the wake of their pending divorce, Bill Gates has transferred $2.4 billion worth of stocks to Melinda, according to SEC filings.
The filings show that, through his holding company Cascade Investment, Gates transferred a 4.7% stake of Mexican soft-drink bottler Coca-Cola Femsa, a 6.7% stake of Mexican broadcasting network Televisa, a 1.9% stake of Canada National Railway and a 3.7% stake of U.S. automotive retailer AutoNation to Melinda.
According to
Business Insider, Melinda s stakes in Coca-Cola Femsa and Televisa now place her among the top shareholders of two of Mexico s largest companies. Cascade still has a 12.3% stake of Canada National Railway and 19.2% stake of AutoNation.