Bill Gates Sells $940 Million of CN Rail Stock, Cuts Stake to 9%

Bill Gates sold about $940 million of Canadian National Railway Co. shares, trimming one of the largest holdings of the investment firm that controls his $117 billion personal fortune.

Cascade Investment unloaded roughly 12% of its shares in the Montreal-based company from April 27 to May 12, leaving it with a stake of about 9% or $6.8 billion, according to a Securities and Exchange Commission filing.

Bill Gates

Photographer: Hollie Adams/Bloomberg

Cascade has been reducing its ownership of the Canadian railway since at least May 2021, when it still owned roughly 13% of the company. One of Cascade’s investment managers, Justin Howell, ...