Thursday, September 09, 2021
Majority in Four Seasons
Gates’ investment fund takes over hotel chain
Ex-Microsoft boss Bill Gates’ investment company will control the luxury hotel chain Four Seasons Hotels and Ressorts. The company takes over around half of the shares of the Saudi Prince Alwalid bin Talal in the chain.
The investment fund of Microsoft founder Bill Gates takes over the majority in the luxury hotel chain Four Seasons. Cascade Investment is buying half of the shares in the Saudi Kingdom Holding Company in Four Seasons Hotels and Resorts for $ 2.21 billion, the hotel chain announced. This increases Cascade Investment’s share from 47.5 percent to 71.25 percent.
The hotel chain is valued at ten billion dollars in the deal. The Kingdom Holding Company of the Saudi Prince Al-Walid bin Talal will in future still hold 23.75 percent of the shares, and Four Seasons founder Isadore Sharp will hold five percent as before.
The investment fund Cascade Investment invests the assets of Bill Gates, the fourth richest person in the world with 133 billion dollars according to the business magazine “Forbes”. The Microsoft founder has invested in numerous companies through the fund. Four Seasons was founded in 1960 and now operates 121 hotels and resorts. Cascade has held stakes in Four Seasons since 1997.
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