Bill Gates Transfers $2.4 Billion Worth of Stock to Melinda Amid Divorce
The couple are also expected to divide their assets according to a separation contract they agreed upon.
In the wake of their pending divorce, Bill Gates has transferred $2.4 billion worth of stocks to Melinda, according to SEC filings.
The filings show that, through his holding company Cascade Investment, Gates transferred a 4.7% stake of Mexican soft-drink bottler Coca-Cola Femsa, a 6.7% stake of Mexican broadcasting network Televisa, a 1.9% stake of Canada National Railway and a 3.7% stake of U.S. automotive retailer AutoNation to Melinda.
According to Business Insider, Melinda's stakes in Coca-Cola Femsa and Televisa now place her among the top shareholders of two of Mexico's largest companies. Cascade still has a 12.3% stake of Canada National Railway and 19.2% stake of AutoNation.
Earlier this week, TMZ reported that the Gates would divide their assets according to a separation contract as the two had not signed a prenuptial agreement. According to the divorce filings, the two have agreed to divide their real estate property, personal property, debts and liabilities.
"This marriage is irretrievably broken," Melinda wrote in her request for a divorce. "We ask the court to dissolve our marriage and find that our marital community ended on the date stated in our separation contract."
The two, who share three children together, announced their divorce on Monday, following 27 years of marriage.
"After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage," a statement from the couple read. "Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives. We continue to share a belief in that mission and will continue our work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives. We ask for space and privacy for our family as we begin to navigate this new life."
The Gates' divorce comes two years following another high-profile divorce between Amazon's Jeff Bezos and MacKenzie Scott. As a result of their separation, Scott became the third wealthiest woman in the world at the time, with a net worth of $35 billion.
Justin Chan is a news writer at Entrepreneur.com. Previously, he was a trending news editor at Verizon Media, where he covered entrepreneurship, lifestyle, pop culture, and tech. He was also an assistant web editor at Architectural Record, where he wrote on architecture, travel, and design. Chan has additionally written for Forbes, Reader's Digest, Time Out New York, HuffPost, Complex, and Mic. He is a 2013 graduate of Columbia Journalism School, where he studied magazine journalism. Follow him on Twitter at @jchan1109.