We have written enough about the divorce of Bill Gates from his long-time wife, Melinda...
We can freely say that they both achieved a lot in life in order to be defined by the end of their marriage. Today, we are talking about his new achievement. Bill Gates' company, Cascade Investment LLC, bought about 50% of Saudi Arabian Prince Alwaleed bin Talal’s shares in Four Seasons Hotels and Resorts. Gates' ownership rose from 47.5% to 71.25%. As we find out, Gates and Alwaleed have been cooperating for a long time and are partners in numerous humanitarian endeavours.
The luxury Four Seasons chain now owns 121 hotels and resorts, 46 residential estates and has more than 50 projects currently under development. With the Cascade company and their purchase of half of the prince's share, the value of the hotel chain reached an incredible 10 billion dollars. Through his investment fund, Kingdom Holding Co., Prince Alwaleed will continue to manage the rest of his stake, according to the leaders of the hotel chain. The wealthy prince also has a stake in a number of other companies, such as Citigroup Inc and Lyft Inc, and over the past ten years, his investment company has been slowly selling off its stake in hotels.
Whether the prince has a new strategy to increase his fortune remains to be seen.