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Bill Gates Drops In Billionaire Ranking After Stock Transfers To Ex-Wife

Posted by Thandiubani on Wed 11th Aug, 2021 -

Gates who was the fourth-richest man in the world dropped after transferring stock to his wife.

Bill and Melinda Gates
Bill and Melinda Gates
Bill Gates is no longer the fourth richest man in the world.
The co-founder of Microsoft Corporation, Bill Gates, dropped in Forbes’ real time billionaire ranking after transfering stock to his wife following their divorce.
Gates who was the fourth-richest man in the world dropped to the fifth position. According to Forbes, he’s now worth $129.6 billion, slightly less than Facebook CEO Mark Zuckerberg.
This was after a fresh set of stock transfers to his ex-wife Melinda French Gates who is now worth an estimated $5.6 billion.
Nearly $2.4 billion worth of stocks were on Thursday transferred to Melinda from Gates’ investment vehicle, Cascade Investment LLC.
The billionaire had transferred $3.2 billion worth of stocks to Melinda in May.

“Melinda received 3.3 million shares of AutoNation AN +0.5%, worth about $392 million, according to SEC filings. She now owns 8.8% of the Florida-based car retailer. Cascade also transferred 2.8 million shares of farm equipment maker Deere & Co. DE +0.9% now worth $1 billion and 9,5 million shares of Canadian National Railway Company, now also worth $1 billion,” Forbes reported.
Melinda will likely receive shares from her ex-husband’s other investments; the ultimate amount she will get from him is yet to be determined.

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