MICROSOFT co-founder Bill Gates gave embattled security firm G4S a much needed boost yesterday by upping his stake in the company.
Gates, through his investment vehicles the Bill & Melinda Gates Foundation Trust and Cascade Investment, increased his holding to 3.23 per cent after buying 6m more shares in the FTSE 100-listed firm. The investment is now worth about £110m.
G4S has been on the back foot since it was roundly criticised for its handling of an Olympics security contract last summer, when it failed to produce enough staff to man the events.
Last month it was forced to issue a profit warning, which precipitated the departure of chief executive Nick Buckles.
It appointed chief financial officer Ashley Almanza to head the company at the start of the month.
Shares in the firm closed down 1.16 per cent last night.
Gates, who co-founded computer giant Microsoft alongside Paul Allen in 1975, has a number of investments in British firms including drinks maker Diageo and upholsterer Carpetright.