Microsoft tycoon Bill Gates has taken a stake in JJB Sports with an increased share holding in the Bill and Melinda Gates Foundation – an organisation created to “help all people lead healthy, productive lives”.
According to Retail Week, on Tuesday, the foundation upped its holding from 7,072,405 shares to 7,872,405, meaning a 3.14 per cent share is now owned.
The foundation’s funds are invested by Michael Larson.
“Bill and Melinda have directed Michael and his team to diversify the endowment across a broad range of investment vehicles, which means the endowment will, over time, include holdings in all major sectors of the global economy," states the foundation’s website.
“We often receive questions about why a specific investment was made. Because we want to maintain a focus on the programmatic work, we do not comment on individual investment holdings.”