Bill Gates Accumulates More Republic Services Shares

Date: September 29, 2012

Source: News Room

Billionaire Bill Gates, though his investment company Cascade Investment LLC continues to build upon his ownership of Republic Services, of which he now owns 21 percent of the stock. As recently as last month Cascade picked up 1.7 million shares of additional shares for about $46.3 million. Since July 31, Cascade added 5.3 million shares representing an investment of about $151.4 million.

Cascade is headed by Michael Larson who is a director at several of the companies he has invested in on behalf of Gates, including Republic Services, AutoNation, Group Televisa and Ecolab. He and Gates appear to believe in the longer term prospects of Republic which has generally enjoyed relative stability, and strong cash flow. They may see its existing portfolio of landfills as being undervalued by the investment community who may be overlooking the future value of a diminishing resource as it becomes increasingly difficult to site and build new landfills.