Gates’s Cascade Investment conveyed 3.3 million shares of AutoNation Inc., now worth about $387 million to 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 Co., totaling more than $1 billion, according to filings with the Securities and Exchange Commission.
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The latest shifts come after Gates transferred more than $3 billion 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 wealthiest people, the stocks alone are now worth more than $5.7 billion, 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 unknown how they’re divvying things up, or the amount of 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 Cascade representative didn’t respond to requests for comment.
‘Huge Mistake’
Cascade, which money manager Michael Larson runs, still owns significant stakes in AutoNation, Deere and Canadian National are 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.