Bill Gates Gives $5 Billion of Canadian National Stock to Foundation
22 Julio 2022 - 11:42AM
Noticias Dow Jones
By Colin Kellaher
Bill Gates has given more than $5 billion worth of Canadian
National Railway Co. stock to the Bill & Melinda Gates
Foundation as part of the Microsoft Corp. co-founder's recent
pledge to give another $20 billion to the foundation's
endowment.
The foundation said it received a gift of more than 44.5 million
Canadian National shares, and that it now owns more than 54.8
million shares, making it the largest shareholder in Canada's
biggest railway with a 7.9% stake.
Based on Friday's price of $116.62 for U.S.-listed shares of
Canadian National, the donation is worth nearly $5.2 billion.
Prior to the gift, Mr. Gates's Cascade Investment LLC was
Canadian National's top shareholder, owning more than 54 million
shares, or a 7.8% stake, as of May 24, according to data from
FactSet.
The Gates foundation, led by Mr. Gates and his ex-wife, Melinda
French Gates, earlier this month pledged to increase its annual
payout by 50% over pre-pandemic levels, to $9 billion a year by
2026.
The $20 billion gift from Mr. Gates brings the foundation's
endowment to around $70 billion. In addition to contributions
topping $39 billion from Bill and Melinda Gates, the foundation has
received more than $35 billion from billionaire Warren Buffett.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 22, 2022 12:27 ET (16:27 GMT)
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