US billionaire Melinda Gates takes stake in Nasdaq Dubai listed Orascom Construction

Dubai: Melinda French Gates, who is getting a divorce from Microsoft’s Bill Gates, now has a stake in one of Egypt’s biggest construction companies.

Melinda French Gates, thus, directly holds 6.52 million shares in Orascom Construction, which represent 5.6 per cent of the company’s ordinary issued share capital. A transfer of shares was done on May 10, from Cascade Investment, to Melinda French Gates.

Orascom construction is listed on Nasdaq Dubai and on the Egyptian stock exchange. Melinda French Gates also has an indirect interest of 263,408 shares, representing 0.2 per cent of the ordinary issued share capital, of Orascom Construction held by Bill & Melinda Gates Foundation Trust, of which Melinda French Gates is a co-trustee.

Melinda, along with Bill, had through the years built up sizeable exposures in multiple industries, many with a sustainable focus. It was also the foundation that they set up that played a key role in the downfall of the once mighty private equity group Abraaj.