Bill Gates transfers nearly $6bn to Melinda on divorce

Co-founder of Microsoft Corporation and business magnate, Bill Gates transferred more than $2 billion worth of stock to now ex- wife, Melinda French Gates, since the couple’s Thursday official divorce.

Bill and Melinda Gates

This included shares in AutoNation and Canadian National Railway, according to confirmed reports.

French Gates has now received about $6 billion worth of stock in transfers since the couple’s May initial divorce announcement.

This takes total transfers from Gates to French Gates since the couple announced their divorce in May to about $6 billion.

Cascade Investment, Gates’ investment vehicle, transferred 3.3 million shares, collectively worth $387 million, of the automotive retailer AutoNation to French Gates, a SEC filing showed.

The Microsoft co-founder also transferred 2.8 million shares worth a total of $1 billion of the manufacturer Deere & Co. to French Gates through Cascade Investment, per a SEC filing cited by Bloomberg.

The same day, Cascade Investment transferred 9.5 million shares, valued at more than $1 billion total, of Canadian National Railway to French Gates.

Insider contacted Cascade Investment and a Gates representative for comment on the transfers, but did not immediately receive a response.

Gates and wife, Melinda officially divorced last week.

Four days after they announced their intention to divorce, in May, Gates transferred $3 billion worth of stock from Cascade Investment to French Gates, including 2.9 million shares of AutoNation, 14.1 million shares of Canadian National Railway, and 293.5 million shares of the media company Grupo Televisa.

Two weeks later, Gates conveyed $850 million worth of Deere & Co. shares to French Gates, according to a SEC filing, this was 7% of Gates’ stake in the company.

Gates and French Gates’ collective net worth is about $152 billion, according to the Bloomberg Billionaires Index.

Gates on Wednesday told CNN that he and French Gates would try to keep working together on their foundation after their divorce.

Courtesy, Businessinsider

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