Tags: Bill Gates | Microsoft | Four Seasons Hotel | Prince Alwaleed bin Talal

Bill Gates' Cascade Investment to Take Control of Four Seasons Hotels

Bill Gates
Bill Gates is doling out $2.1 billion to buy out a Saudi Prince's share in the Four Seasons Hotel. (AP)

Wednesday, 08 September 2021 10:03 AM EDT

Bill Gates' Cascade Investment LLC will take control of Four Seasons Hotels and Resorts by buying about half of Saudi Arabian Prince Alwaleed bin Talal's stake in the company for $2.21 billion, the hotel operator said on Wednesday.

Cascade will buy 23.8% of Prince Alwaleed's stake to own 71.3% of Four Seasons, valuing the hotel chain at $10 billion on an enterprise basis.

Prince Alwaleed, through investment vehicle Kingdom Holding Co., will continue to own the remaining stake, Four Seasons said.

The billionaire prince is one of Saudi Arabia's top businessmen and is known for his bets on Citigroup and other top western companies. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D'Silva)

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Bill Gates' Cascade Investment LLC will take control of Four Seasons Hotels and Resorts by buying about half of Saudi Arabian Prince Alwaleed bin Talal's stake in the company for $2.21 billion, the hotel operator said on Wednesday.
Bill Gates, Microsoft, Four Seasons Hotel, Prince Alwaleed bin Talal
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2021-03-08
Wednesday, 08 September 2021 10:03 AM
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