Bill Gates transferred $1.8bn (N685bn) in stock to Melinda on day of divorce news
The investment firm of Microsoft CEO, Bill Gates’ transferred $1.8 billion (estimated N685 billion naira) in stock to his wife, Melinda, the same day the couple announced their separation after 27 years of marriage, New York Post reports.
Cascade Investment, a holding company that Gates formed to manage much of his financial assets, transferred more than 14 million shares of Canadian National Railway to Melinda Gates on Monday, according to a securities filing.
The NY Post reports that on the same day, the firm transferred more than 2.9 million shares of AutoNation to Melinda Gates, a separate filing shows.
Based on Wednesday’s stock prices, the Canadian National Railway holdings are worth more than $1.5 billion and the shares of AutoNation, a Fort Lauderdale, Fla.-based company that sells cars, are valued at over $300 million.
The couple’s divorce petition, which was filed Monday in King County Superior Court in Washington state, indicated that they don’t have a prenuptial agreement to distribute their estimated $130 billion in assets.
Instead, the two have signed a separation contract for dividing their property and possessions, but the terms of that agreement have not been publicly disclosed in court documents.