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Billionaire Bill Gates ups stake in AutoNation, parent of AutoWay dealerships

Billionaire Bill Gates apparently loves Fort Lauderdale's AutoNation, the country's biggest auto retailer and the parent of the AutoWay brand dealerships in the Tampa Bay area. Gates upped his stake in the company several times in recent weeks and now owns an estimated quarter-billion dollars worth of the stock. That's a big commitment by any investor, though obviously less of one for someone like Microsoft co-founder Gates, whose fortune Forbes magazine pegs at $54 billion. Last week, AutoNation said its new vehicle sales increased 15 percent in October compared with the previous year, a bigger jump than the industry overall.

Billionaire Bill Gates ups stake in AutoNation, parent of AutoWay dealerships 11/11/10 [Last modified: Thursday, November 11, 2010 6:55pm]
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