A little more than a month after Microsoft co-founder Bill Gates and Melinda French Gates officially divorced, Bill went on a buying spree and acquired controlling interest in the Four Seasons luxury hotel group.
The tech billionaire who is now a single man and was once known as a "hard-partying womanizer who recruited local strippers to attend naked pool parties" cemented controlling interest in the Four Seasons for $2.21 billion after he bought a 24% stake from longtime business partner Alwaleed bin Talal. Gates increased his stake to 71.25% from 47.5%.
The deal is subjected to regulatory approvals and other closing conditions but is expected to close in early 1Q22.
Gates, 65, has also stepped down from Microsoft's board to spend more time on "philanthropic activities."
Buying the controlling interest of a luxury hotel chain for the super-wealthy doesn't sound like philanthropy work to us.
Cascade or Gates has yet to release an official statement on the acquisition. However, one would suspect after the government restricted travel during the pandemic, which battered the lodging industry, valuations for hotels may seem appealing.
Gates will now be free to roam the world on his private jet (wonder how he will offset that in carbon credits), visiting more than 100 hotels and resorts in 47 countries without Melinda.