Melinda French Gates now owns $ 5.7 billion in stock after divorce

Days after finalizing their divorce after 27 years of marriage, Bill Gates and Melinda French Gates resumed the process of separation of their public property.

On Thursday, Gates’s Cascade Investment transferred 3.3 million shares of AutoNation that are now worth around $ 387 million to French Gates, as well as 2.8 million Deere & Co shares valued at around $ 1 billion and 9, 5 million Canadian National Railway shares totaling more than $ 1 billion. , according to documents filed with the Securities and Exchange Commission.

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The latest changes come after Gates transferred more than $ 3 billion in stock, including stakes in the same three companies, in the weeks following the May 3 divorce announcement. It’s enough to make her one of the richest people in the world – the stock alone is now worth more than $ 5.7 billion, but it may only be part of the picture.

The specific details of how the former couple are splitting their huge fortune lie in the separation contract that a Washington state judge approved earlier this week. The agreement is not public, so it is not known how things are divided or how much other private assets French Gates may have received. Gates is worth about $ 150 billion, according to the Bloomberg Billionaires Index.

A spokeswoman for French Gates and a representative for Cascade did not respond to requests for comment.

‘A big mistake’

Cascade, which is run by fund manager Michael Larson, still owns significant stakes in AutoNation, Deere and Canadian National – 17%, 8.5% and 11%, respectively, according to documents filed Friday. Cascade also has stakes in several other public companies that have not transferred shares to French Gates.

This week, Gates spoke publicly about the divorce and his association with the late pedophile con artist Jeffrey Epstein, whose meetings with Gates may have caused conflict in the latter’s marriage, according to the New York Times.

“I had several dinners with him in the hope that what he said about gaining billions of philanthropy for global health through the connections he had might come up, and when it seemed like it wasn’t a real thing, that relationship ended.” Gates told CNN’s Anderson Cooper. In an interview. “It was a big mistake spending time with him, giving him the credibility of being there.”

Gates also said that he is still in contact with French Gates because they will continue to work together on his $ 65 billion foundation. Last month, the foundation said French Gates could resign from their roles there if the former couple can no longer work together. Gates said he hopes that doesn’t happen.

“Melinda has incredible strengths to bring to her,” Gates said.

© 2021 Bloomberg

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