Bill Gates Main Shareholder for CN Railway

By Bizclik Editor


Microsoft’s Bill Gates has become Canadian National Railway’s biggest shareholder. As of February 25th, Gates is in control of over 10.04 per cent of CN shares worth $3.2 billion.

Announced in a circular distributed before CN Railway’s annual shareholders meeting, Gates' share value was determined through CN’s Monday morning trading price of $69.75 on the Toronto Stock Exchange. Overall, CN Railway’s stock market capitalization is valued at $32 billion.

Gates holds 46.07 million CN Railway shares, an amount he has been building since 2006. Starting at a 5.8 per cent stake, Gates' current stake totals around 10.04 per cent of CN stock. Gates' shares are owned and/or controlled through Cascade Investment and as a co-trustee of the Bill and Melinda Gates Foundation Trust.

“The only person who beneficially owns, or exercises control or direction over, directly or indirectly, shares carrying 10 per cent or more of the voting rights attached to any class of shares of the company is Mr. William H. Gates III,” said CN in a company circular.

SEE RELATED STORIES FROM THE WDM CONTENT NETWORK: Click here to read the latest edition of Business Review Canada

CN will release its first-quarter 2011 financial results this Tuesday.

CN Railway’s annual shareholder meeting will be held on Wednesday, April 27th 2011, at 10 AM in Toronto. The shareholder meeting’s goal is to receive consolidated financial statements for 2010, elect directors, appoint auditors, approve resolutions and transact other business for CN Railways. Shareholders that attend will have a chance to vote on each issue and outcomes will be determined by majority of votes cast.

Featured Articles

Microsoft, McDonald’s latest firms to run civil rights audit

Microsoft and McDonald’s join Amazon, Citi, JPMorgan and others in conducting civil rights audits, as investor pressure to achieve racial equity mounts

Deep dive: Investment in carbon capture rises as CO2 spikes

Investment in carbon removal solutions and startups is heating up as fast as the planet, with Temasek and CEMEX Ventures the latest VCs to launch funds

Dialight envisions a safe industrial world with LED lights

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, cyber, 5G, cloud speakers at TECH LIVE LONDON

Technology & AI

Eight big announcements made at Davos 2022, from ESG to tech


Hear Vodafone Business cyber chief Kawalec at Cyber LIVE

Leadership & Strategy