Bill Gates, $ 2.2 billion in cash. You buy the Four Season Hotels
Bill Gates is the new majority shareholder of the Four Season luxury hotels. The Microsoft founder increased his stake in the company from 47.5% to 71.25%, paying $ 2.2 billion in cash. The entrepreneur’s investment company – according to Repubblica – has in fact reached an agreement to buy a share from Saudi prince Alwaleed bin Talal, in what is a bet on the recovery of luxury hotels after the pandemic.
While Alwaleed bin Talal maintains stakes in many companies such as Citigroup Inc (CN) and Lyft Inc (LYFT.O), his investment firm Kingdom Holding has sold its stakes in hotels over the past 10 years. Four Seasons manages 121 properties and has over 50 projects in the pipeline. In addition to Alwaleed, the founder of the hotel chain, the ninety-year-old Isadore Sharp, remains with 5% of the property. The deal is expected to close in January after regulatory approvals and other closing conditions.