2oceansvibe News | South African and international news

Sponsored by RSAWeb rss
2ov Radio
  • Home
  • About
    • Terms and Conditions
    • Seth Rotherham
  • du Cap Collection
  • Café du Cap
  • Cabine du Cap
  • Media Packs / Advertising
  • Contact
    • Contact
    • Anonymous Tips
    • Twitter
    • Facebook
Seth Rotherham
  • World Starts To Understand Scope Of Bill And Melinda Gates’ ‘Secretive’ Fortune

    14 May 2021 by Jasmine Stone in Lifestyle, Money
    Related Posts
    • Bill Gates Is Cracking Jokes About Vaccine Microchips
    • Have You Ever Seen Bill Gates' 1977 Mugshot?
    • Bill Gates Really Wishes He'd Never Met Jeffrey Epstein
    • Jeez, There’s No Love Lost Between Melinda And Bill Gates
    • Don't Worry, Bill Gates Also Had A Really Tough Year

    [imagesource: Frederic Stevens / Getty Images]

    Whatever happens in what will be a very closely watched divorce settlement, neither Bill nor Melinda Gates will ever go hungry.

    There’s a good chance the settlement will rival, if not best, the at least $35 billion that MacKenzie Scott walked away with following her divorce from Jeff Bezos.

    As of today, according to Forbes’ real-time billionaire tracker, Bill Gates is worth just shy of $128 billion, and some context is required to wrap one’s head around just how much money that really is.

    Luckily, The New York Times is here to help:

    The fortune of Bill Gates and Melinda French Gates exceeds the size of Morocco’s annual economy, combines the value of Ford, Twitter and Marriott International and is triple the endowment of Harvard…and includes assets as varied as trophy real estate, public company stocks and rare artifacts.

    There’s a big stake in the luxury Four Seasons hotel chain. There are hundreds of thousands of acres of farmland and ranch land, including Buffalo Bill’s historic Wyoming ranch. There are billions of dollars’ worth of shares in companies like AutoNation and Waste Management. There’s a beachfront mansion in Southern California. And one of Leonardo da Vinci’s notebooks.

    That’s just scraping the surface, really.

    I guess that’s what happens when every time you think about buying something, you have the financial means to do so.

    I would wreak absolute havoc.

    David Aronson, a lawyer who often represents very wealthy clients in divorce cases, has said “that amount of money and the diversity of assets that are involved in this divorce boggles the imagination,” adding that only Bezos and Scott’s divorce has ever come close.

    The difference between Bill and Bezos is that whilst the latter’s money was largely tied up in Amazon stocks, the former has been diversifying his portfolio for decades, which makes things trickier.

    Divorce filings by Melinda show that the couple has a separation agreement in place, but the details are not yet known.

    So, about that ‘secretive’ fortune:

    At the center of both the Gates fortune and the Gates Foundation endowment is a little-known entity called Cascade Investment. Based in Kirkland, Wash., and run by Michael Larson, a former bond fund manager for Putnam Investments, Cascade has overseen both the endowment and most of the personal wealth of Mr. Gates and Ms. French Gates for decades…

    Image: Getty Images

    Mr. Larson operates Cascade with an obsessive level of secrecy, going to great lengths to cloak the firm’s transactions so that they can’t easily be traced back to the Gateses. In a 1999 interview with Fortune magazine, Mr. Larson said he chose the name “Cascade” because it was a generic-sounding name in the Pacific Northwest.

    Larson, who is said to follow the Warren Buffett approach to investing (that will please Bill), has done very well over the years, “with absolute discretion”.

    That’s according to Roger McNamee, a Silicon Valley investor who was worked with him in the past.

    However much Melinda walks away with, she appears likely to follow the lead of MacKenzie Scott, and give much of it away via her various philanthropic interests.

    Reports also suggest that each of the three Gates children will inherit ‘only’ $10 million each.

    Thoughts and prayers.

    [source:nytimes]

    • ← Friday Morning Spice
    • No Fatalities In Miraculous Midair Collision – One Plane Sliced In The Middle And Other Floated To Earth →
    • Tweet
    • Tags:
    • bill and melinda gates
    • bill gates
    • melinda gates

    Latest News

    • Gang Of 10 Hits KZN Jewellery Store In Broad Daylight [Video]

      [imagesource:here] A gang of 10 carrying guns broke the windows of a jewellery shop at ...

    • Thinking Of Veneers But Scared Of The Drill? There’s New Tech For That

      [imagesource: Dental Care] Now that wearing a face mask in public indoor spaces is no l...

    • Cape’s Infamous Great White-Killing Orcas Return Amid New Research

      [imagesource: Dave Hurwitz] Researchers have spent years documenting the gradual disapp...

    • It’s School Holidays – How Does Your Child Keep Busy?

      It’s the end of term and school is out! It’s time for a well-earned break, but how ...

    • Larry Ellison’s $160 Million Superyacht Was Inspired By A Famous Samurai

      [imagesource:here] Before we check out this samurai-inspired superyacht, who is Larry E...


    • 2oceansvibe Partners

    • CONTACT US
    • GOT A HOT STORY?
    • 2oceansvibe Radio
    • 2oceansvibe Media
    • Media Pack
    • Seth Rotherham
    • Café du Cap
    • Cabine du Cap
    • Cape Town City Accommodation
    • Terms & Conditions
    • Business
    • Media
    • Entertainment
    • Tech/Sci
    • World
    • Travel
    • Lifestyle
    • Sport
    • Politics
  • Follow

    2oceansvibe.com is part of the 2oceansVibe Media Group

    DMMA Logo