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Bill Gates’ Gates Foundation Trust, valued at nearly $50 billion, has been a net seller of Microsoft stock since late 2023, even as the company’s valuation has surged to nearly 13 times sales—its highest price-to-sales ratio in over 20 years. This comes amidst a broader market trend where the S&P 500 is trading above 30 times earnings, double its historical average, largely fueled by the AI sector, expected to grow at 30% annually through 2033.
Despite the significant selling, Gates does not manage day-to-day operations of the trust; an external team at Cascade Investments oversees portfolio transactions. While the trust notably increased its Microsoft shares by nearly 40 million in 2022, it has since been reducing its holdings every quarter.
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