Billionaire Bill Gates has seen a significant increase in his wealth as his largest U.S. stock investments experienced a boom in the bull market of 2023. Gates, co-founder of Microsoft, holds substantial stakes in several companies, including Republic Services, AutoNation, Ecolab, and Deere. These investments have made him the largest shareholder in those companies.
Through Cascade Investment, Gates’ investment vehicle, he owns 110 million shares of Republic Services, 9.9 million shares of AutoNation, 31.1 million shares of Ecolab, and 20 million shares of Deere. Additionally, Gates holds 5.2 million Ecolab shares and 3.9 million Deere shares through the Bill & Melinda Gates Foundation Trust. However, it is the Cascade positions alone that make him the biggest shareholder in these companies.
The four companies in which Cascade Investment holds stakes have collectively increased by $4 billion in the first half of 2023. With the exception of Deere, whose stock has slipped, the investments in Republic Services, AutoNation, and Ecolab have seen significant gains, totaling $4.5 billion.
Michael Larson, Chief Investment Officer at Cascade Asset Management, attributes these gains to the patient and fundamental approach to long-term value investing employed by Cascade. He remains optimistic about the prospects of these companies, citing their solid business models and strong management teams.
Republic Services’ stock rose by 19% to $153.17 in the first half of the year, reaching a record intraday high of $153.39 on June 30. Cascade’s position in Republic Services surged $2.7 billion to a valuation of $16.8 billion.
AutoNation’s stock experienced a 53% leap to $164.61, and Cascade’s investment in the company gained $566 million, bringing its value to $1.6 billion. AutoNation achieved a record intraday high of $166.27 on June 29.
Ecolab saw a 28% increase in stock price, reaching $186.69 in the first half of 2023 and hitting an intraday high of $187.45 on June 30. Cascade’s investment in Ecolab gained $1.3 billion, ending June with a valuation of $5.8 billion.
On the other hand, Deere’s stock slipped 5% in the first half, settling at $405.19. Cascade’s investment in Deere also experienced a decline of $466 million, reaching $8 billion. This underperformance follows a 25% rise in Deere’s stock price in 2022.
Cascade Investment’s success in the bull market of 2023 showcases Gates’ ability to make strategic and profitable investments. As one of the world’s wealthiest individuals, Gates continues to expand his wealth through wise investment choices. By analyzing the underlying business models and management teams of the companies he invests in, Gates remains confident in their long-term potential.
This article presents the recent financial gains made by Bill Gates through his major U.S. stock investments. It highlights the positive performances of Republic Services, AutoNation, and Ecolab, while also addressing the underperformance of Deere. With his patient and fundamental approach to investing, Gates has managed to capitalize on the market’s bullish trend in 2023.
