When did Bill and Melinda Gates decide to divorce? $1.8B stock transfer on day of filing papers raises questions
Bill and Melinda Gates left the planet shocked when they announced their split after almost three decades of marriage. In the wake of the sad news that they shared via a joint statement, their eldest child Jennifer Gates has opened up about how 'challenging' all of it has been.
However, it was the revelation of a no-prenup agreement that sparked several speculations surrounding the couple's divorce. It has now come to light that Bill transferred around $2B to soon-to-be-ex-wife Melinda on the same day that she filed for divorce. Could this mean they were planning to get divorced a long time ago?
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Bill gave Melinda $2 billion in stocks
According to TMZ, Bill gave Melinda around $1.8B in stocks on the same day she filed for divorce, that is May 3. The outlet revealed that an investment firm controlled by the Microsoft co-founder transferred millions of shares in two companies to Melinda. Bill's investment firm, Cascade Investment LLC, allegedly sent Melinda over 14M shares of Canadian National Railway Co. Along with that were another 2.9M shares of AutoNation Inc, revealed the documents obtained by TMZ.
Based on April 5 stock prices, the shares are worth at least $1.8B. This includes $1.53B in Canadian National Railway shares and some $310M on AutoNation shares. According to TMZ, this could be an indication of the multi-billionaires working out their property settlements long before they announced the split to the world.
No prenup, but separation agreement signed
The couple also shocked the world when court documents revealed that unlike most power couples in the contemporary era, they did not have a prenup. Unlike the air-tight prenups most celebrity couples brag of, in Bill and Melinda's case, under Section 11 titled “Written Agreements” the divorce papers stated they have a “separation contract pursuant to RCW 26.09.070”, which detailed how the couple will split their assets and property.
However, Distractify also reported that the couple did in fact once have a prenup but it was more to do with Winblad than money. Apparently, when Bill and Melinda signed their prenup agreement, there was reportedly a clause in it that stated Bill was allowed to spend at least one weekend a year with his ex-girlfriend. Bill has partnered with Winblad on Hummer Winblad Venture Partners in 1999. They have reportedly maintained a friendship with each other and often mention each other in interviews.
What happens to the Gates Foundation?
As has been reported before, the couple signed a separation agreement ahead of the divorce filing. But these stock transfers on the same day as the filing indicate that the couple was already down the road of dividing their assets. The couple also jointly owns the Gates Foundation, and according to its financial statements, the charity has $50B in assets and has distributed around $5B in grants.
According to Vox, a Gates Foundation spokesperson said that the philanthropy was not expecting any changes to their work. Both Bill and Melinda will remain co-chairs and trustees of the foundation in their name, the spokesman said. “They will continue to work together to shape and approve foundation strategies, advocate for the foundation’s issues, and set the organization’s overall direction,” the foundation spokesman said.