Billionaires
5 Billionaire-Backed Hospitality Investments In 2021 Here are five hospitality investments backed by billionaires in 2021. Net worths are as of February 8, 2022. Last year, the hospitality sector remained resilient in the face of the ongoing pandemic—according to JLL’s Global Hotel Investment Outlook 2022 report—as investment transaction volumes in the global lodging industry skyrocketed by 131% to $66.8 billion in 2021 from a slump in 2020. Of the overall transaction, JLL revealed that $32.5 billion worth of hotel assets were acquired by private equity investors. Unsurprisingly, the ultra-rich made sure they got a piece of the pie.
Bill Gates Property: Four Seasons Hotels and Resorts
Deal value: $2.2 billion Net worth: $132.6 billion Gates’ investment vehicle, Cascade Investments, is now the largest shareholder of luxury hotel chain Four Seasons Hotels and Resorts after it agreed in September 2021 to purchase half of the stake held by Kingdom Holding Company (KHC), the Tadawul-listed investment firm chaired by Saudi Prince Alwaleed Bin Talal. The deal, which boosted Gates’ ownership from 47.5% to 71.25% and trimmed KHC’s stockholding to just 23.75%, was completed in January 2022 in an all-cash transaction worth $2.21 billion, valuing Four Seasons at a $10 billion enterprise value. Gates’ high-profile divorce to Melinda French Gates saw the billionaire philanthropist transfer some of his Cascade stocks worth $2.4 billion in August 2021 to his ex-wife as part of their asset settlement.
Larry Ellison Property: Hyatt Regency Lake Tahoe Resort Deal value: $345 million Net worth: $110.7 billion Through Ellison’s investment firm, Lawrence Investments, the Oracle cofounder bought Hyatt Regency Lake Tahoe Resort, Spa and Casino in September 2021 for $345 million, according to a transaction recorded in the U.S. state of Nevada’s Washoe County and confirmed by Forbes. The tech billionaire is known for pouring his wealth into several properties, including his current residence in the Hawaiian island of Lanai, in which he owns 98% bought for $300 million in 2012. In April 2021, Ellison also added an $80 million mansion in North Palm Beach, Florida into his real estate collection, which Forbes calculates to be worth above $1 billion.
F O R B E S M I D D L E E A S T.C O M
MARCH 2022
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