Bill Gates Firm Invests in Gabelli
Reuters | at | by Mike
Bill Gates, the chairman and co-founder of Microsoft Corp., is investing $100 million in Mario Gabelli's fund business, it said on Monday. Gabelli Asset Management Inc., which is based in Rye, New York, and oversees about $26 billion in assets, said it agreed to sell $100 million of convertible notes to Gates' private investment firm, Cascade Investment LLC. The private sale will, upon conversion, give Cascade a 6 percent ownership stake in Gabelli common stock.