Bill Gates sells shares of Canadian National for about $940 million

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Microsoft founder, billionaire Bill Gates has sold shares in North America's largest railway network, Canadian National Railway, for about $940 million, BLOOMBERG reports.

  Cascade Investment sold approximately 12% of its shares in Canadian National Railway from April 27 to May 12, reducing the stake to 9% or $6.8 billion, according to a statement from the Securities and Exchange Commission.

Cascade also owns a $14.1 billion stake in Republic Services, as well as $9.7 billion in Deere & Co. Cascade is considered the largest shareholder in Microsoft, worth $26.9 billion.

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A financial instrument used to raise capital. The main types of securities: shares (gives the owner the right of ownership), bonds (debt security) and their derivatives. More