NEW YORK - Even billionaire Bill Gates may be feeling the pinch these days.
The value of Gates' investments fell by $3 billion, or almost 20 percent, in the fourth quarter as the worst financial crisis in decades and a deepening recession hammered stock prices.
The investments of the Bill & Melinda Gates Foundation fell 19 percent to $9.07 billion, while those of Cascade Investment LLC, Gates' investment firm, fell 18 percent to $4.02 billion, according to regulatory filings on Tuesday.
The foundation increased its stake in McDonald's Corp
The foundation increased its stake in Coca Cola Co
It shed stakes in troubled financial companies American International Group
The foundation took a one-million-share stake in Coca Cola Enterprises Inc
Cascade took a 7.95 million-share stake in Eastman Kodak Co
(Reporting by Juan Lagorio, editing by John Wallace)