Bill Gates' Investment Firm Will Control Four Seasons After $2.21 Billion Deal The deal will close in January of 2022, pending regulatory approvals.

By Entrepreneur Staff

entrepreneur daily
Michael Cohen | Getty Images

Bill Gates' Cascade Investment, LLC. has been a long-standing shareholder in Four Seasons Hotels and Resorts, but has now entered into a definitive agreement to acquire a controlling interest in the company.

The deal will close in January of 2022, pending regulatory approvals.

Four Seasons made the announcement Wednesday, noting the $2.21 billion, all-cash deal will increase Cascade's existing 47.5% stake to 71.25%. Cascade purchased half of the existing 47.5% stake owned by Saudi Arabian Prince Alwaleed bin Talal's Kingdom Holding Company, valuing Four Seasons at a $10 billion enterprise value.

Related: Bill Gates' money manager allegedly made sexual and racist comments about his female partners

Isadore Sharp, the Four Seasons founder and chairman, will retain his 5% stake.

"As we mark our 60th anniversary and look back on the profound impact that Four Seasons has had on luxury hospitality we also look forward with tremendous excitement and confidence in the future of the industry. The unwavering support and partnership of our shareholders has and continues to be critical as we capitalize on growing opportunities to serve luxury consumers worldwide," said company CEO John Davison on Wednesday.

He called the deal "another key moment" in the company's "storied history."

In its own announcement, Kingdom Holding Company said it would use the proceeds from its sale "for future investments and repayment of part of its outstanding loans."

Entrepreneur Staff

Entrepreneur Staff


Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Related Topics

Growing a Business

The Owners of This Texas Farmers Market Took a Big Gamble. Here's How It Paid Off Bigger Than They Dreamed.

A Texas farmers market educates customers about the importance of shopping local for a healthy lifestyle and an even healthier small business community.

Social Media

How To Start a Youtube Channel: Step-by-Step Guide

YouTube can be a valuable way to grow your audience. If you're ready to create content, read more about starting a business YouTube Channel.

Business News

A Billion Dollar Startup Is Trying To Resurrect A Woolly Mammoth — And You Can Watch It Happen

Filmmakers will go behind the scenes of billion-dollar startup Colossal Biosciences, which uses genetic engineering for de-extinction projects.

Business News

A 29-Year-Old CEO Quit Microsoft To Build His Startup — And Just Scored A Deal on Shark Tank

Aabesh De tapped into a niche need during the pandemic and founded Flora, a houseplant care startup.

Business News

Woman Allegedly Fired for 'Theft' After Eating a Sandwich That Was Leftover From a Meeting

Gabriela Rodriguez worked as a cleaner at Devonshires Solicitors in London for two years.