Bill Gates drops in billionaire ranking after stock transfers to ex-wife..
The co-founder of Microsoft Corporation, Bill Gates, has dropped in Forbes’ real time billionaire ranking.
Gates who was the fourth-richest man in the world dropped to the fifth position. According to Forbes, he’s now worth $129.6 billion, slightly less than Facebook CEO Mark Zuckerberg.
This was after a fresh set of stock transfers to his ex-wife Melinda French Gates who is now worth an estimated $5.6 billion.
Nearly $2.4 billion worth of stocks were on Thursday transferred to Melinda from Gates’ investment vehicle, Cascade Investment LLC.
The billionaire had transferred $3.2 billion worth of stocks to Melinda in May.
“Melinda received 3.3 million shares of AutoNation AN +0.5%, worth about $392 million, according to SEC filings. She now owns 8.8% of the Florida-based car retailer. Cascade also transferred 2.8 million shares of farm equipment maker Deere & Co. DE +0.9% now worth $1 billion and 9,5 million shares of Canadian National Railway Company, now also worth $1 billion,” Forbes reported.
Melinda will likely receive shares from her ex-husband’s other investments; the ultimate amount she will get from him is yet to be determined.
Meta-owned social media apps, including Facebook and Instagram, could be banned in the UK and in Europe as a whole. Mark Zuckerberg has...
Amb. Tosin Sanusi has been appointed as the International Cooperation Attache to the Deputy Minister for Manpower Planning and...
To become powerful, you must have immense influence among the people. Forbes published a list of the prominent individuals...