Bill Gates Drops In Billionaire Ranking After Stock Transfers To Melinda French Gates
Bill Gates has transferred an additional $2 billion worth of stock to ex-wife Melinda French Gates. She has now received approximately $6 billion worth of stock in transfers since the pair announced their divorce in May of this year.
Cascade Investment, Gates’ investment vehicle, transferred 3.3 million shares of automotive retail AutoNation to French Gates on Thursday. The 3.3 million shares hold a collective worth of $387 million. Gates also transferred 2.8 million shares, worth $1 billion in total, of the manufacturer Deere & Co. to his ex-wife through his investment vehicle, as well as 9.5 million shares of Canadian National Railway, also worth $1 billion.
Bill and Melinda Gates finalised their divorce last week after 27 years of marriage. Gates, who was the fourth-richest man in the world, has now dropped to fifth position. According to Forbes, the Microsoft co-founder is now worth $129.6 billion, coming in at slightly less than Facebook co-founder and CEO Mark Zuckerberg. Following their divorce, Melinda French Gates now has an estimated net worth of $5.6 billion. Collectively, their net worth had stood at $152 billion, according to the Bloomberg Billionaires Index.