Gates now owns 10% of CN
Written by jrood
Cascade Investment, LLC., whose sole member is Microsoft founder Bill Gates, acquired 35,784 Common Shares of Canadian National Railway Company. With this purchase, Cascade now holds 37,392,378 shares, representing approximately 8.14 percent of the outstanding shares. In addition, Bill & Melinda Gates Foundation Trust, a charitable trust for which Gates serves as a co-trustee, owns 8,563,437 shares CN representing 1.86 percent. Gates is deemed to have beneficial ownership of and/or control or direction over 45,955,815 of the shares, representing approximately 10 percent of the outstanding shares. Gates spent $8 million through his investment agency to increase his stake in the rail giant, Gates' firm said in a statement, reports the Toronto Sun. He first bought into CN in 2000 and has gradually increased his stake in the company since then.
