Days after finalising their divorce following 27 years of marriage, Bill Gates and Melinda French Gates resumed the process of splitting up their public assets.
On Thursday, Mr Gates’s Cascade Investment conveyed 3.3 million shares of AutoNation, now worth about $387 million, to Ms French Gates, as well as 2.8 million shares of Deere & Co. valued at about $1 billion and 9.5 million shares of Canadian National Railway totalling in excess of $1bn, according to filings with the Securities and Exchange Commission.
The latest shifts come after Mr Gates transferred more than $3bn worth of shares, including stakes in the same three companies, in the weeks following their May 3 divorce announcement. It’s enough to make her one of the world’s richest people - the stocks alone are now worth more than $5.7bn, but it may only be part of the picture.
The specific details of how the ex-couple is splitting their enormous fortune reside in the separation contract that a judge in Washington State approved earlier this week.
The agreement isn’t public, so it’s not known how they’re divvying things up or the amount of other private assets French Gates may have received. Gates is worth about $150bn, according to the Bloomberg Billionaires Index.
A spokeswoman for French Gates and a Cascade representative didn’t respond to requests for comment.
Cascade, which is run by money manager Michael Larson, still owns significant stakes in AutoNation, Deere and Canadian National - 17 per cent, 8.5 per cent and 11 per cent, respectively, according to Friday’s filings. Cascade also holds stakes in several other public companies that haven’t transferred shares to French Gates.
This week Mr Gates spoke publicly about the divorce and his association with late paedophile con man Jeffrey Epstein, whose meetings with Mr Gates may have caused strife in the latter’s marriage, according to the New York Times.
“I had several dinners with him hoping that what he said about getting billions of philanthropy for global health through contacts that he had might emerge, and when it looked like it wasn’t a real thing that relationship ended,” Mr Gates told CNN’s Anderson Cooper in an interview. “It was a huge mistake to spend time with him, to give him the credibility of being there.”
Mr Gates also said that he is still in contact with French Gates because they will continue to work together at their $65bn foundation. Last month, the foundation said Ms French Gates might step down from her roles there if the ex-couple can no longer work together. Mr Gates said he hopes that doesn’t happen.
“Melinda has incredible strengths that she brings,” Mr Gates said.
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
2018 ICC World Twenty20 Asian Western Regional Qualifier
Saturday results
Qatar beat Kuwait by 26 runs
Bahrain beat Maldives by six wickets
UAE beat Saudi Arabia by seven wickets
Monday fixtures
Maldives v Qatar
Saudi Arabia v Kuwait
Bahrain v UAE
* The top three teams progress to the Asia Qualifier
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
MATCH RESULT
Al Jazira 3 Persepolis 2
Jazira: Mabkhout (52'), Romarinho (77'), Al Hammadi (90' 6)
Persepolis: Alipour (42'), Mensha (84')
Info
What: 11th edition of the Mubadala World Tennis Championship
When: December 27-29, 2018
Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams
Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823
UAE currency: the story behind the money in your pockets
Results
6.30pm: Al Maktoum Challenge Round-2 Group 1 (PA) US$75,000 (Dirt) 1,900m
Winner: Ziyadd, Richard Mullen (jockey), Jean de Roualle (trainer).
7.05pm: Al Rashidiya Group 2 (TB) $250,000 (Turf) 1,800m
Winner: Barney Roy, William Buick, Charlie Appleby.
7.40pm: Meydan Cup Listed Handicap (TB) $175,000 (T) 2,810m
Winner: Secret Advisor, Tadhg O’Shea, Charlie Appleby.
8.15pm: Handicap (TB) $175,000 (D) 1,600m
Winner: Plata O Plomo, Carlos Lopez, Susanne Berneklint.
8.50pm: Handicap (TB) $135,000 (T) 1,600m
Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass.
9.25pm: Al Shindagha Sprint Group 3 (TB) $200,000 (D) 1,200m
Winner: Gladiator King, Mickael Barzalona, Satish Seemar.
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Results:
Women:
1. Rhiannan Iffland (AUS) 322.95 points
2. Lysanne Richard (CAN) 285.75
3. Ellie Smart (USA) 277.70
Men:
1. Gary Hunt (GBR) 431.55
2. Constantin Popovici (ROU) 424.65
3. Oleksiy Prygorov (UKR) 392.30
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Pearls on a Branch: Oral Tales
Najlaa Khoury, Archipelago Books
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
HWJN
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ENGLAND SQUAD
Joe Root (captain), Dom Sibley, Rory Burns, Dan Lawrence, Ben Stokes, Ollie Pope, Ben Foakes (wicketkeeper), Moeen Ali, Olly Stone, Chris Woakes, Jack Leach, Stuart Broad
Killing of Qassem Suleimani
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Cherry
Directed by: Joe and Anthony Russo
Starring: Tom Holland, Ciara Bravo
1/5
