Penny Stock Owned by Bill Gates

Bill Gates, founder of Microsoft (MSFT), is the richest man in the United States, with a net worth of $72 billion. All of his investments are handled by his investment vehicle, Cascade Investment LLC. Although Bill Gates owns many large blue chip stocks, he also has a penny stock in his portfolio.

Cascade owns 2,408,000 shares of Patriot Coal Corporation (PCXCQ) as of the end of the second quarter of this year, representing about 4.5% of the outstanding shares of the company. This St. Louis, Missouri based company is one of the largest coal mining companies in the US. It closed on Friday at 12 cents a share. On July 9, 2012, Patriot Coal filed for reorganization under Chapter 11 of the Bankruptcy Code.