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Gates Gives Deere Stock to Foundation

Vernon Schmidt ,

Last week Bill Gates gifted more than $955 million worth of Deere & Co. stock to the Bill & Melinda Gates Foundation, as part of the billionaire’s pledge to gift $20 billion to the foundation’s endowment.

The co-founder of Microsoft Corp. transferred more than 3 million shares of Deere stock to the foundation on Thursday from Cascade Investment LLC, according to Friday filings with the Securities and Exchange Commission.

Deere shares closed Thursday at $316.54, according to FactSet, which values the donation at roughly $955.3 million