Gates divorce spurs changes to $50B foundation | Business and Economy News
There are signs that change is coming to one of the world’s most powerful philanthropic organisations.
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There are signs that change is coming to one of the world’s most powerful philanthropic organisations.
Article content When Bill Gates and Melinda French Gates announced their surprise split after 27 years of marriage, they said there would be no changes to their US$50 billion foundation. Now, about three weeks later, after revelations that Melinda considered divorce years earlier partly because of Bill’s ties to Jeffrey Epstein, and amid reports of his dubious behaviour at Microsoft Corp., there are signs change is coming to one of the world’s most powerful philanthropic organizations. We apologize, but this video has failed to load. Try refreshing your browser. Gates divorce forces $50-...
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 es...
Details of the split have already started to emerge. Cascade Investment, a holding company Bill created with his Microsoft winnings, transferred securities worth more than $1.8 billion to Melinda French Gates, according to US regulatory filings dated May 3. The shift comprised about $1.5 billion of Canadian National Railway Co. shares and more than $300 million of AutoNation stock. Cascade holds securities valued at more than $50 billion, including stakes in Republic Services, Deere & Co. and Ecolab. How their wealth is ultimately divvied up is set to shake up the uppermost ranks of the world...
May 3, 2021 Bill and Melinda Gates, two of the most influential philanthropists in the world, said on Monday that they were divorcing after 27 years of marriage. The couple have together emerged as leading figures in the global fight against Covid-19, and their separation is likely to send shock waves through the worlds of philanthropy, public health and business. “After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” the two said in a statement posted on Twitter. “We have raised three incredible children and built a foundat...