Bill Gates takes over Four Seasons for 2,210 million. The founder of Microsoft takes control with 71.25% of the prestigious chain.
The billionaire and one of the richest people in the world, Bill Gates, has bought a majority stake in the Four Seasons hotel chain for 2.21 billion dollars (1.87 billion euros) through Cascade Investment, the company that manages the fortune of the founder of Microsoft.
The company reached an agreement with Kingdom Holdings Company (KHC), the investment company headed by Saudi billionaire prince Alwaleed bin Talal, to take over half the stake. Gates, who already controlled 47.5%, now has 71.25% of the prestigious Canadian chain.
Therefore, the Saudi prince and businessman Al-Walid ben Talal will retain 23.75% of the shares in the company once the transaction is concluded, scheduled for the beginning of the year 2022. The remaining 5% continues to correspond to the founder and president of the hotel chain, Isadore Sharp.
As the hotel company announced in a statement last Wednesday, the agreement “marks a turning point in the evolution of the Four Seasons,” while celebrating Cascade’s commitment to provide the Four Seasons with “resources to accelerate growth and expand. its strategic objectives “.
Four Seasons, created in 1960, has grown over time into a luxury hotel chain that currently has 121 hotels and hotel complexes, in addition to 46 residential properties in 47 countries, complemented by a portfolio of more than 50 projects in various stages of development.