Bill Gates Drops In Billionaire Ranking, After Stock Transfer To Ex-wife

Following the divorce of the co-founder of Microsoft Corporation, Bill Gates, and his wife Melinda, it has been reported that Gates had dropped in Forbes’ real time billionaire ranking.

According to reports, Gates, who was the fourth-richest man in the world, dropped to the fifth position. Forbes disclosed that he’s now worth $129.6 billion, slightly less than Facebook CEO Mark Zuckerberg.

This is coming after a fresh set of stock transfers to his ex-wife Melinda French Gates who is now worth an estimated $5.6 billion.

According to findings, about $2.4 billion worth of stocks were transferred to Melinda from Gates’ investment vehicle, Cascade Investment LLC, on Thursday.

It was earlier disclosed that the billionaire had transferred $3.2 billion worth of stocks, to Melinda in May.

Forbes reported that, “Melinda received 3.3 million shares of AutoNation AN +0.5%, worth about $392 million, according to SEC filings. She now owns 8.8% of the Florida-based car retailer.

Cascade also transferred 2.8 million shares of farm equipment maker Deere & Co. DE +0.9% now worth $1 billion and 9,5 million shares of Canadian National Railway Company, now also worth $1 billion.”

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Esther Ifeoluwa

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