 "Bill Gates' holding company transfers $1.8 bn of equities to Melinda Gates")
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.
Cascade 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.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app