Bill Gates sells entire stake in G4S

Beleaguered security company G4S has lost one of its most important shareholders with Bill Gates, co-founder of Microsoft and one of the world’s richest men, selling his entire stake in the business for a modest profit.

Mr Gates created a stir a year ago when it emerged that Cascade Investment, the firm that manages assets of the Bill and Melinda Gates Foundation Trust, held 3.2pc of the business.

Cascade is estimated to have paid £110m for the holding as G4S wrestled with a series of crises. The security group’s woes culminated with it being banned from Government contracts after being accused of overcharging for tagging offenders, some of whom were found to be back in prison, overseas or dead.

Mr Gates is no stranger to British companies, investing in businesses as diverse as Carpetright, Diageo and JJB Sports. His G4S holding was seen as a vote of confidence in the group which operates in 125 countries and has embarked on structural and management changes to restore its credibility.

Last month the Gates shareholding was under 3pc but the Gates Foundation has told Reuters it no longer held any interest in G4S.

Last week G4S faced more criticism about its operations at its annual meeting when its security guards ejected protestors raising questions about Israeli prison contracts and security in occupied Palestinian territories.

Mr Gates, estimated to have net worth of $78.1bn (£46.48bn), is capable of buying G4S, capitalised at £3.8bn, 13 times over.

In another measurement of his purchasing power Redfin, the online real estate site estimates he could buy Boston’s entire housing stock of 114,212 homes and still have more than $1bn in his pocket.

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