Cascade Investment, the investment company of Microsoft founder Bill Gates, will become the largest shareholder in the Four Seasons hotel chain. Gates will buy a 23.8 percent stake in Saudi Prince Al-Waleed bin Talal for $2.21 billion.
As a result, Cascade now controls more than 70 percent of the capital of the international hotel chain. The rest of the shares will remain in the hands of Al-Waleed through his investment company Kingdom Holding. After this transaction, the global valuation of the Four Seasons is estimated at 10 billion dollars.
The American Four Seasons operates 121 luxury hotels and resorts worldwide, but also operates 46 residential residential projects at the same time. The center of gravity of activities remains in the United States. The hotel chain does not exist in Belgium.
Hotel business is not a new activity for 65-year-old Bill Gates. He has been a shareholder of Four Seasons since 1997 through Cascade Investment. He now controls it by buying additional shares that were previously owned by Prince Alwaleed.
The two businessmen have known each other for years. When Saudi Crown Prince Mohammed bin Salman accused Alwaleed of corruption, Gates publicly defended him. (Bloomberg)
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