Bill Gates has been charged with eternity after entering a bid to buy the world’s largest private jet operator, just a month before he published a book preaching about climate change .
The head of company Microsoft Cascade Investment entered the bidding war for Signature Aviation on Friday, working with Blackstone Group to produce a $ 4.3 billion play for the British private service company.
Cascade and Blackstone are now going head-to-head with private equity firm Carlyle, which was already in the process of initially taking over.
Gates ’Cascade already owns a 19 percent stake in Signature making it their favorite to win the bid.
But news of Gates ‘s following on the private jet company has caught the eye as the company’ s actions go against its very vocal stance on climate change.
It comes just a month before Gates puts out his much-anticipated book, ‘How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need’, in which he outlines his plans for how the world can reach greenhouse gas emissions in time to prevent climate crisis.
It also comes just months after he published a blog post giving a public speech that climate change could be ‘worse’ than coronavirus pandemic.
Bill Gates is on board a private jet at Gillette-Campbell County Airport in Gillette, Wyoming in 2010. Gates was charged with hypocrisy after he went on appeal to the largest private jet company in the world to buy, just a month before he publishes a book preaching about climate change
Signature Aviation handles 1.6 million private flights annually. And all private jet flights emit up to 40 times more carbon per passenger than regular commercial flights, according to a 2019 report by the airline Honeywell Aerospace.
Several people quickly expressed the hypocrisy in Gates’ latest business campaign on social media on Friday.
‘Bill Gates, one of the biggest climate change campaigners, has a huge investment in a company that runs small airports for mega-rich private jets,’ wrote one person.
What does climate change have to do with flying around in private jets? Ask your Bill. ‘
Gates will be releasing his book, ‘How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need’ in February, where he will outline his plans for how the world can reach greenhouse gas in time to prevent climate crisis.
Another was opposed to getting a speech from one of the richest men in the world on climate change while buying jets and jet companies.
‘We will not hear from Bill Gates about climate change please. Investing in private jet companies, ‘they tweeted.
Gates are consistent: ‘We can’t get to zero emissions simply – or even virtually – by flying and driving less.’ However, it should be difficult to call for action on climate change * and * promote private jets, ‘he tweeted another.
If Cascade wins the bid for Signature, it looks like any contract will still be in the works when Gates’ book is published on February 16th.
The book aims to educate people about the need to work towards zero-zero emissions and how individuals can help achieve this goal.
In the introduction to the book, he states that Gates has spent a decade researching the causes and effects of climate change.
In August, the billionaire philanthropist warned in a blog on his Gates Notes site ‘how terrible this pandemic is, that climate change could be worse. ‘
‘Global crisis has shocked the world. It causes an alarming number of deaths, makes people fear leaving home, and leads to economic hardship not seen in many generations. Its effects are spreading all over the world, ‘Gates wrote.
The head of Microsoft Cascade Investment entered the bidding war for Signature Aviation on Friday, working with Blackstone Group to produce a $ 4.3 billion play for the British private service company
‘Of course, I’m talking about COVID-19. But in a few decades, the same description fits another global crisis: climate change. ‘
Then, in December, the billionaire unveiled a plan he wanted for how the US can be at the forefront of the fight against climate change.
”[We] we need to change the global corporate economy – and that will, among other things, lead to a major disruption of innovation, funding and focus from the federal government. No one else has the resources to lead the research we need, ‘he said.
His plan includes a $ 25 billion increase in spending on clean energy research while striking that Americans are spending more on gasoline in one month than the government is spending on such research.
This is not the first time Gates has been caught for its double standards around the climate change agenda.
While Gates, who owns four of his own private jets, has previously said ‘I don’t think anyone is doing more’ than himself on tackling climate change, he has also admitted that his planes are ‘guilty pleasures’.
A 2019 study by Lund University in Sweden found that Gates had the largest carbon footprint of a group of 10 celebrities who were familiar with frequent private jets.
Researchers estimated that it took a whopping 59 private flights in 2017, traveling 343,000 km and emitting 1,600 tons of carbon dioxide.
In comparison, the average person produces around 10 tonnes of carbon dioxide each year.
DailyMail.com reached out to Gates Notes for comments.
Gates with Indigenous Representative Tuntiak Katan at the DA Climate Action Conference in 2019. Gates has previously said ‘I don’t think anyone is doing more’ than himself in tackling climate change .
Gates and Michael Bloomberg in 2017 for the One Planet Collection. A 2019 study by Lund University in Sweden found that Gates had the largest carbon footprint of a group of 10 celebrities known to frequent private jets
Despite the perceived hypocrisy, Blackstone and Cascade are said to be in positive talks with Signature about their proposal which includes a cash offer of 3.81 pounds per share.
The offer will be made through Brown Bidco Ltd, a new corporate which will be 70 per cent owned by Blackstone with Cascade holding the remainder.
Signature said this is Blackstone ‘s sixth recommendation, having first applied in February last year.
Cascade and Blackstone must announce that they are determined to bid or walk away by January 14th.
The claim for the airline comes as commercial airlines have partially halted in the wake of the pandemic, as borders have been closed, a travel ban has been lifted and passengers have been notified. -usual stay at home.
But while major companies have been hit hard and struggling to stay away, private jet operators have improved as affluent passengers follow travel rules and travel. go around the world.