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Melinda Gates now among largest CN shareholders after marital split stock transfer

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Date: 2021-05-05 23:48:45

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As Bill and Melinda Gates prepare to go their separate ways, the billionaire founder of Microsoft Corp. has transferred more than 14 million shares of Canadian National Railway Co. to his wife of 27 years, putting her among CN’s top 10 shareholders.

The two per cent stake in the company was worth more than $1.8 billion on Wednesday afternoon, based on CN’s share price of $134.95.

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Melinda Gates now among largest CN shareholders after marital split stock transfer Back to video

Bill Gates, who has been accumulating shares in CN since at least 2006 through his private investment vehicle Cascade, was already the largest single shareholder of the railway company, and he continues to hold a 12.3 per cent stake following the May 3 transfer of 14,086,339 common shares to Melinda in what regulatory filings described as “a private transaction, for no consideration.”

Gates and his soon-to-be ex-wife are the beneficial owners of an additional 13,907,283 shares of CN, about two per cent of the company, which is held by the Bill & Melinda Foundation Trust. They are listed as co-trustees of the foundation.

Original Source: https://financialpost.com/news/melinda-gates-now-among-largest-cn-shareholders-after-marital-split-stock-transfer