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Bill Gates has increased his overall investment in Canadian National Railway Co. to 12% for a combined value of roughly $4.7-billion.

Cascade Investment LLC, a Kirkland, Wash., investment company owned and controlled by the billionaire Microsoft founder, said Tuesday it had acquired an additional 13,670 common shares in CN for $1.25-million. The additional shares brings Cascade’s overall stake the country’s largest railway to 10% of its outstanding shares, or roughly 43 million shares.

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Separately, the Bill & Melinda Gates Foundation Trust, which is also controlled by Mr. Gates, holds a 1.98% interest in the railway, or roughly 8.6 million of its outstanding shares.

As a result, Mr. Gates is deemed to have a beneficial ownership of and/or control or direction of roughly 11.98% of CN, or 51.7 million of its outstanding shares, for a combined value of roughly $4.7-billion based on Tuesday’s close of $90.36 a share on the Toronto Stock exchange.

This not only makes Mr. Gates CN’s largest shareholder, but brings him closer to the 15% ownership cap placed on the railroad for any one investor stemming from its privatization in 1995.

Mr. Gates has been building his position in the railway since 2006.