Bill Gates’s firm ‘Cascade’ transfers stocks worth $1.8 billion to Melinda Gates amid divorce

Published on May 06, 2021 12:14 AM IST  |  242.2K
   
Bill Gates’s firm ‘Cascade’ transfers stocks worth $1.8 billion to Melinda Gates amid divorce
Advertisement

In the recent development in the phenomenon of Bill and Melinda Gates divorce, a report has arisen that Bill Gates’s firm Cascade which manages his financial wealth transferred a whopping amount of $1.8 billion in stock to Melinda Gates this week. Bill and Melinda never signed a prenup yet Melinda refused any spousal support from the billionaire. Bill, who is the co-founder of Microsoft now has less than 20% stake in the wealth generated from the software giant. Melinda and Bill cleared the fact that the foundation which has donated over $50 billion in the last two decades will remain intact.

Bill Gates’s Cascade Investment LLC transferred 14 million shares of Canadian National Railway Co. and north of 2.9 million shares of AutoNation Inc. on Monday to Melinda according to regulatory filings. When the market opened on Wednesday, the Canadian National Railway shares were worth about $1.53 billion, while the AutoNation shares were worth about $310.1 million. The billionaire philanthropists have filed for the divorce after developing a legacy together of a global foundation, raising three children who are adults now and 27 years of togetherness that has its roots in billions of dollars as well. 

Cascade manages a huge chunk of Bill Gates’s wealth that he earned while building Microsoft which he co-founded in 1975 and later departed from the position of chairman in 2014. Bill and Melinda together manage over $146 billion according to the Bloomberg billionaire index and there has been no declaration on the financial adjustment of this sum by either one of them.

Also Read| Bill Gates and Melinda Gates' daughter REACTS to divorce: It's been a 'challenging stretch of time' for family

Advertisement

Comments