Bill Gates’ company transfers $1.8bn of equities to Melinda Gates

Bill and Melinda Gates announced on Monday they are divorcing after 27 years of marriage.

Melinda Gates, 56, serves as co-chair of the Bill and Melinda Gates Foundation and is the founder of Pivotal Ventures, an investment and incubation company that works to advance the interests of American women and families [File: Michael Short/Bloomberg]

Cascade Investment, a holding company Bill Gates created with the proceeds of Microsoft Corp. stock sales and dividends, transferred securities worth more than $1.8 billion to Melinda French Gates, a day after the pair announced their divorce after 27 years of marriage.

Melinda Gates is now the beneficial owner of 14.1 million shares of Canadian National Railway Co. worth about $1.5 billion, according to a Securities and Exchange Commission filing dated May 3. The investment firm also transferred 2.94 million shares in AutoNation Inc., worth $309 million.

Through Cascade, Gates has interests in real estate, energy and hospitality as well as stakes in dozens of public companies, including Deere & Co. and Republic Services Inc. The couple are also among the largest landowners in America.

Gates is worth $145.4 billion, according to the Bloomberg Billionaires Index.

Source: Bloomberg

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