Bill Gates / Cascade Investment Acquires $159.6M of Republic Services ($RSG)

Executive Summary

On September 10, 2026, a Form 4 was filed reporting significant open-market common stock purchases in Republic Services, Inc. ($RSG) by Cascade Investment, L.L.C. and William H. Gates III, who are 10% owners of the company.

Transaction Details

Across September 8 and September 9, 2026, Cascade Investment executed six purchase tranches totaling 720,804 shares for an aggregate transaction value of approximately $159.59 million:

• September 8, 2026:
  • 141,819 shares at a weighted-average price of $220.7666 ($220.40 - $221.39)
  • 249,866 shares at a weighted-average price of $221.8189 ($221.40 - $222.395)
  • 17,815 shares at a weighted-average price of $222.5564 ($222.40 - $223.12)
• September 9, 2026:
  • 32,765 shares at a weighted-average price of $220.3687 ($219.68 - $220.67)
  • 213,574 shares at a weighted-average price of $221.1262 ($220.68 - $221.67)
  • 64,965 shares at a weighted-average price of $222.3830 ($221.73 - $222.61)

Ownership Impact

Following these transactions, direct beneficial ownership by Cascade Investment / William H. Gates III stands at 116,477,634 shares, reaffirming their substantial long-term stake and high conviction in Republic Services.