Bill Gates Gives $955 Million Worth of Deere & Co. Shares to Foundation
23 July 2022 - 8:08AM
Dow Jones News
By Kathryn Hardison
Bill Gates has gifted more than $955 million worth of Deere
& Co. stock to the Bill & Melinda Gates Foundation, another
donation made this week as part of the billionaire's pledge to gift
$20 billion to the foundation's endowment.
The co-founder of Microsoft Corp. transferred more than 3
million shares of Deere stock to the foundation on Thursday from
Cascade Investment LLC, according to Friday filings with the
Securities and Exchange Commission.
Deere shares closed Thursday at $316.54, according to FactSet,
which values the donation at roughly $955.3 million. Shares fell
1.4% to $312.26 at market close on Friday.
The foundation said Friday that Mr. Gates also gifted more than
$5 billion worth of Canadian National Railway Co. stock.
Led by Mr. Gates and his ex-wife, Melinda French Gates, the
foundation earlier this month pledged to increase its annual payout
by 50% over pre-pandemic levels, to $9 billion a year by 2026.
Mr. Gate's $20 billion pledge brings the foundation's endowment
to around $70 billion.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
July 22, 2022 17:53 ET (21:53 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Deere (NYSE:DE)
Historical Stock Chart
From Apr 2024 to May 2024
Deere (NYSE:DE)
Historical Stock Chart
From May 2023 to May 2024