Bill Gates may earn at least $313.7 million every year from this ‘boring’ business
Bill Gates has significantly increased his stake in Republic Services, a major US waste management and recycling company. Through his investment firm, Cascade Investment, Gates now owns over 38% of the company, which could yield him hundreds of millions in annual dividend income.
Why it matters
The investment highlights the financial stability and long-term profitability of essential utility-like services such as waste management.
Bill Gates has built much of his fortune through technology, but one of his major investments is in a business that many people rarely think about: waste management. According to a report by International Business Times, Bill Gates has increased his stake in Republic Services, one of the largest waste collection and recycling companies in the US. The report cites regulatory filings which show that his investment firm Cascade Investment bought another 3.06 million shares between August 28 and September 11. Gates now owns about 117.05 million shares, or more than 38% of the company’s outstanding common stock. Based on Republic Services’ latest dividend, that stake could generate about $313.7 million a year in dividend income if the payout and shareholding remain unchanged.Bill Gates has built a large stake in Republic ServicesGates has been increasing his holding in Republic Services through Cascade Investment, his private investment company.
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