Bill Gates Transfers Stocks Worth $2.4 Billion to Melinda
Microsoft Founder, Bill Gates, has transferred stocks worth $2.4 billion to Melinda gates in the wake of their pending divorce, Securities Exchange Commission filling shows.
The transfers were made on Monday, the same day the billionaire philanthropists revealed on Twitter that they were ending their marriage of 27 years.
It was noted that the stock transfers were disclosed in securities filings on Tuesday and Wednesday.
The filings show that, through his holding company Cascade Investment, Gates transferred a 4.7% stake of Mexican soft-drink bottler Coca-Cola Femsa, a 6.7% stake of Mexican broadcasting network Televisa, a 1.9% stake of Canada National Railway and a 3.7% stake of U.S. automotive retailer AutoNation to Melinda.
According to Business Insider, Melinda’s stakes in Coca-Cola Femsa and Televisa now place her among the top shareholders of two of Mexico’s largest companies. Cascade still has a 12.3% stake of Canada National Railway and 19.2% stake of AutoNation.
Earlier this week, TMZ reported that the Gates would divide their assets according to a separation contract as the two had not signed a prenuptial agreement.
According to the divorce filings, the two have agreed to divide their real estate property, personal property, debts and liabilities.
“This marriage is irretrievably broken,” Melinda wrote in her request for a divorce. “We ask the court to dissolve our marriage and find that our marital community ended on the date stated in our separation contract.”
The two, who share three children together, announced their divorce on Monday, following 27 years of marriage.
“After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” a statement from the couple read.
“Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives.
“We continue to share a belief in that mission and will continue our work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives. We ask for space and privacy for our family as we begin to navigate this new life.”
The Gates’ divorce comes two years following another high-profile divorce between Amazon’s Jeff Bezos and MacKenzie Scott.
As a result of their separation, Scott became the third wealthiest woman in the world at the time, with a net worth of $35 billion.
Mr. Gates also transferred to his wife some of his holdings in Canadian National Railway Co. and AutoNation Inc., the biggest owner of U.S. car dealerships, according to other SEC filings.
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The railway stake, about 1.9% of the company, was valued at $1.55 billion at Wednesday’s closing price; the AutoNation shares, about 3.7% of the company, were worth about $307 million.
Bill Gates Transfers Stocks Worth $2.4 Billion to Melinda
