Billionaire investor Bill Gates' portfolio now includes these two specific stocks.
Rewritten Article:
Hey there! Let's dive into a juicy piece of news about the tech tycoon, Bill Gates (66). He's got a knack for making millions, and he's recently added two fresh stocks to his portfolio. Here's the lowdown!
Bill Gates' Portfolio Picks: Two Surprising Stocks
Bill Gates is no stranger to handling capital. With his Bill & Melinda Gates Foundation, he oversees one of the biggest private foundations in the world. Although his divorcepectations, he and Melinda continue to lead the foundation together. The Bill & Melinda Gates Foundation Trust manages the foundation's assets, with external investment managers handling the duties. Every three months, Bill shares a peek into his portfolio's current status due to disclosure requirements.
The most recent disclosure, ending on June 30, offers insights into his second-quarter investments. Here's what it revealed: Two newcomers joined Bill Gates' portfolio, bringing the total to 20 stocks valued at approximately $17.68 billion.
Carvana: The Amazon for Cars
Located in Arizona, US-based Carvana specializes in online sales of pre-owned vehicles. Often referred to as "Amazon for cars," it's one of the fastest-growing secondhand car dealers in the States. The Gates foundation scooped up 520,000 shares, accounting for 0.07% of the portfolio. Analysts expect a growth of 20% in revenue, reaching $15.41 billion, for the current fiscal year. However, the stock has taken a hit, dropping around 79% since the start of this year. Over the past five years, it has surged by 230%.
Vroom: Gates' Second Preference for Used Car Sales
If Bill Gates has a type, it seems to be in online used-car retailers. Vroom is also an e-commerce platform for trading used vehicles, to which the foundation bought 2.5 million shares (0.02% of the portfolio). Despite plummeting by 95% over a five-year period, Vroom managed to spike nearly 30% in the last week. The news of Bill Gates' involvement might have fueled this surge. With a market value of $300 million, Vroom is the smaller contender next to Carvana ($5.25 billion).
Both companies have yet to secure profits, making these investments riskier. Nevertheless, Bill Gates is well-known for his long-term investment strategy. These two online car dealers could be shaping the future of America's auto industry as online transactions gain momentum, even for automobiles.
A note of caution: This article is based on general information and third-party perspectives. For accurate and up-to-date insights on Bill Gates' portfolio holdings, consult his most recent SEC filings or reliable financial reports.
- Bill Gates' latest additions to his portfolio include shares in Carvana and Vroom, bringing the total to 20 stocks worth approximately $17.68 billion.
- Analysts predict a 20% growth in Carvana's revenue for the current fiscal year, reaching $15.41 billion, despite a 79% drop since the start of this year.
- Vroom, another online used-car retailer in which Bill Gates has invested, saw a nearly 30% increase in the last week, possibly due to the news of his involvement.
- Both Carvana and Vroom, which are yet to secure profits, could be shaping the future of America's auto industry as online transactions become increasingly popular for automobiles.
