Bill & Melinda Gates Foundation sold all its shares of Apple and Twitter

Photo: EPA Microsoft Co-founder and philanthropist Bill Gates (L) and his wife Melinda Gates (R), Co-Chair of the Bill and Melinda Gates Foundation

Weeks before Bill and Melinda Gates announced their divorce in early May, the foundation bearing their names sold off hundreds of millions of dollars' worth of stock in Apple and Twitter, Business Insider reported.

Securities and Exchange Commission filings from the Bill & Melinda Gates Foundation, first reported by Barron's on Sunday, revealed that the foundation's trust had sold its entire stakes in Apple and Twitter as of the end of March.

Bill and Melinda reportedly don't have a prenuptial agreement and are relying on a "separation contract" to divide assets. A prenuptial agreement establishes a contractual agreement in the event of a divorce, but a separation contract is less formal - it's a legal agreement that stipulates each party's rights and obligations, like child support and custody, that doesn't involve a court.

The Gateses' divorce filing said their marriage was "irretrievably broken" and asked that their assets be split according to the separation contract. Altogether, since the divorce announcement, about $4bn in stock has been already transferred from Bill to Melinda. Bill is one of the world's richest people, with a net worth estimated at about $146bn.

Similar articles

  • Renault returns to profit despite chip shortage

    Renault returns to profit despite chip shortage

    French carmaker Renault announced it was optimistic about 2021 financial results and further noted it even expected to close a full-year with profits despite the acute semiconductor chip shortages that pressured the whole automotive industry. Renault reported first-half net profit of 354 million euros after suffering a loss of nearly 7.3 billion euros a year earlier amid long industry-wide production shutdowns during the pandemic, Reuters elaborated.

    33
  • Air France cuts losses to €248m on less travel restrictions

    Air France cuts losses to €248m on less travel restrictions

    The lifting of travel bans and restrictions related to pandemic helped Air France - KLM to reduce its losses in the middle of 2021. As most European nations eased travel restrictions the transport sector is finding solid ground to spur its recovery, Reuters elaborated. The French-Dutch carrier announced positive second quarter results which proved smaller losses and raising cash from operations.

    29