DIVIDING ASSETS

Melinda French Gates Became a Billionaire a Day After Announcing Divorce

A holding company used by Bill Gates transferred $1.8 billion worth of shares, a day after the couple announced they were splitting.

Melinda Gates received over $1.8 billion worth of stocks a day after she and Bill Gates announced their divorce, Bloomberg reports. Cascade Investment, a holding company used by Bill Gates, transferred 14.1 million shares of Canadian National Railway Co. and 2.94 million shares in AutoNation Inc. to Melinda Gates earlier this week. Forbes reports that the transfer is believed to be part of the couple’s divorce settlement. According to their divorce filing, the pair will have their assets divvied up by a Washington state judge per a separation contract they signed before filing for divorce. After the transfer, Bill Gates’ net worth fell from $130.4 billion to $128.6 billion, but he is still the fourth richest person in the world, according to Forbes.