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Bill Gates Trims Largest Holding in Canadian National Railway Co
Billionaire and Philanthropist Diversifies Investment Portfolio
Acquisition of 548 Million Shares in 2019 Boosted Portfolio Value
Renowned entrepreneur and philanthropist Bill Gates has made a significant shift in his investment strategy by selling a large portion of his shares in Canadian National Railway Co. (CN).
Gates' investment firm, Cascade Investment, has trimmed its holdings of CN shares by approximately 940 million, reducing its stake to 14.12% as of 2019. This sale represents a significant reduction in Gates' largest single shareholder position.
Key Facts:
- Gates sold approximately 940 million CN shares.
- Cascade Investment's holdings in CN have been reduced to 14.12%.
- Gates acquired 548 million CN shares in 2019, worth $608 billion.
Gates' decision to sell a portion of his CN shares reflects a broader diversification strategy that has seen him invest in a range of industries, including healthcare, energy, and technology.
The sale of CN shares follows Microsoft's announcement of a $68.7 billion investment in OpenAI, the creator of the popular ChatGPT chatbot, demonstrating Gates' continued interest in emerging technologies.
Sources:
- CBC News: Bill Gates sells off stake in CN Rail
- The Globe and Mail: Bill Gates sells majority of his stake in CN Rail
- BNN Bloomberg: Bill Gates buys $548M in Canadian National shares