Bill Gates transferred $ 1.8 billion in shares to his wife Melinda on the day they announced the divorce – fr

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Bill Gates transferred $ 1.8 billion in shares to his wife Melinda on the day they announced the divorce – fr


Bill Gates transferred $ 1.8 billion in shares to his wife Melinda the day they announced their divorce in what appears to be the first of many public transactions the couple will make as they begin to share their extraordinary assets. .

The founder of Microsoft is the fourth richest man in the world with an estimated fortune of $ 130 billion. He and Melinda have been married for 27 years and have three grown children, but announced in a joint statement Monday that they are separating.

She said in court documents that the marriage was “irretrievably broken.”

The couple’s divorce settlement has not been finalized in court, but they have agreed to some of the terms of their separation. It is likely that the pair will go private and that the only glimpses of their asset allocation will come from SEC filings on how many stocks they hold in state-owned companies.

On Monday, one of those documents revealed that Bill had given Melinda more than 14 million shares of the Canadian National Railway Company worth $ 1.5 billion. He also gave him 2.9 million shares of AutoNation.

The shares were transferred from Cascade Investment LLC, an investment company controlled by Gates. Bill hired billionaire lawyer Charlie T Munger, 97, to represent him in the divorce.

On Monday, one of those documents revealed that Bill had given Melinda more than 14 million shares of the Canadian National Railway Company worth $ 1.5 billion. He also gave him 2.9 million shares of AutoNation.

The two companies Bill ceded to Melinda this week are Canadian National Railways and AutoNation.  They're a drop in the bucket of what she's likely to receive in their $ 130 billion asset division

The two companies Bill ceded to Melinda this week are Canadian National Railways and AutoNation. They’re a drop in the bucket of what she’s likely to receive in their $ 130 billion asset division

He had known Munger from their time at Berkshire Hathaway, Warren Buffett’s holding company, where Bill served on the board for 16 years and where Munger remains vice chairman.

Munger’s expertise is not in family law but in business.

Melinda also hired a powerful group of lawyers to represent her.

What specifically motivated their divorce is unclear. Melinda has previously described Bill’s reluctance to get married in the early 1990s.

In her divorce petition, Melinda says spousal support is “not necessary” – meaning she won’t ask Bill for regular payments but will accept a settlement that will likely be negotiated privately, if he. has not already been decided.

Lawyers are shocked that there was no prenup, given that Bill already earned his first billion dollars at the age of 31 in 1987 – the same year he met Melinda. Now their myriad assets are up for grabs.

The couple met in 1987 – the same year Bill became the world’s youngest billionaire at age 31 – married in Hawaii in 1994 and have three children together: Jennifer, 25, Rory , 21, and Phoebe 18.

They also established in 2000 the world’s largest charitable foundation, the Bill and Melinda Gates Foundation, which has contributed more than $ 50 billion to causes such as polio and malaria eradication. The foundation has also been a major investor in coronavirus treatments.

In a divorce petition filed in Washington state obtained by DailyMail.com, Melinda filed for divorce from Bill on Monday, describing their marriage as `` irretrievably broken. ''

Melinda filed for divorce from Bill on Monday in Washington – King County Superior Court. In the petition (photo), she described their marriage as “irretrievably broken”

The couple are pictured with their three children in a 2019 family photo. The children - Jennifer (center), Rory (right) and Phoebe (left) are now 25, 21 and 18

The couple are pictured with their three children in a 2019 family photo. The children – Jennifer (center), Rory (right) and Phoebe (left) are now 25, 21 and 18

BILL’S LAWYER: A 97-YEAR-OLD WWII VET WHO LOST EVERYTHING IN HIS FIRST DIVORCE, THEN DEPOSITS A PONTIAC TO “DISCOURAGE THE GOLD DIGGERS”

Charlie T. Munger, the lawyer Gates hired to represent him in his divorce, is a World War II veteran, Harvard graduate, widower, divorcee, billionaire, and philanthropist.

He was born in Nebraska in 1924 and as a teenager he worked in the grocery store owned by Warren Buffett’s grandfather. His own father was a lawyer and his grandfather was a district judge.

In 1943, when he was 19, he left the University of Michigan to serve in World War II in the US Air Army Corps.

After serving in the military, he went to Harvard and also married his first wife, Nancy Huggins.

But the couple divorced in 1953. They had three children and Munger was 29 years old. He had just turned to the stock market and had lost everything to Nancy in the divorce.

He has since recounted in interviews how he settled into “terrible bachelor digs” and drove a Pontiac in the years that followed. When his daughter asked him why he was driving the car, he replied that it was to “discourage the gold diggers”.

The following year, he lost his nine-year-old son Teddy to leukemia.

In a joint statement posted to their Twitter accounts on Monday, the two said their work with the foundation would continue, but not their marriage, adding: “We don’t think we can grow as a couple in this next phase of our lives. “.

Although the couple do not have a marriage contract, it appears much of the work of dividing their estate – which includes properties in five states, a private jet, an astonishing art collection, and a fleet of luxury cars – has already been carried out, such as their divorce. the papers repeatedly refer to a “separation contract” that the two signed. The contract itself has not been made public.

The documents, obtained by DailyMail.com, came to light after the couple’s eldest daughter revealed their family was going through “difficult times.”

Jennifer Gates, 25, opened up about the divorce announcement on Instagram Monday afternoon, writing: “I’m still learning how to best support my own process and emotions and my family members right now and I am grateful for the space to do it.

The 65-year-old Microsoft founder and his 56-year-old wife announced the split on Twitter.  They both issued the same joint statement

Microsoft founder, 65, and his wife, 56, shared the news with identical statements on Twitter (pictured)

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