Bill Gates sheds biofuels stake
Whatever you think about Microsoft founder Bill Gates (Greenbang largely thinks how weird it is that one of the world’s richest men should have a voice curiously reminiscent of Kermit the Frog. She also thinks a lot about whether Gates has a wig or not), William H Gates has never had any problem making money. Or rubbish software, but that’s another discussion.
Late last week, Gates investment’ company Cascade Investment decided to ditch its stake in biofuels company Pacific Ethanol.
According to Reuters, the jumper-wearing millionaire has cut his stake in the company from 17 percent to 11.8 percent, while the Sacramento Bee, Gates has got rid of over two million shares in the company since April.
The Bee has had a chat with Neil Koehler, CEO of Pacific Ethanol, who said Gates is “well on his way” to cutting his original stake in the company in half.
The paper also says this:
Koehler said he wasn’t particularly bothered by Gates’ stock sales, saying, “That’s the great thing about markets; people are free to buy and sell.” He noted that he and other company insiders recently purchased $5 million in Pacific Ethanol shares in a private stock sale.
