ProPublica report examines Gates's Republic Services stake and landfills
Published November 12, 2026 · Updated November 12, 2026 · 3 sources
ProPublica reports Bill Gates holds a large Republic Services stake while its landfills fall short of his climate principles. Market data for RSG and WM.
The exposed companies and what ATLAS says about each
Price change between the last close before the event and the latest available close. It is a coincidence in time, not a cause-and-effect relationship.
America's second-largest landfill operator, named in the ProPublica report on climate pollution and landfill practices. · Industrials
Republic Services is America's second-largest landfill operator and is named in the ProPublica report on climate pollution and landfill practices. Its share price closed at $247.62 on November 10 and $248.03 on November 11, up 0.17% between the two closes, a coincidence in time with the report. Its dividend yield is 1.03%.
Price between closes
$247.62 → $248.03Close of November 10 and November 11
Fair value (ATLAS)
$224.13Fair range: $142.66 to $324.97The price ($248.03) is 10.7% above that figure.
Chance of a rise in 1 month
53%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $239.41 and $258.86; 9 in 10, between $223.40 and $277.42.
Major U.S. waste and landfill operator, a direct competitor to Republic Services in the same landfill market. · Industrials
Waste Management is a major U.S. waste and landfill operator and a direct competitor to Republic Services; it is included for its activity in the sector, not because the event affects it. Its share price closed at $237.38 on November 10 and at $237.38 on November 11, down 0.00% between the two closes. Its dividend yield is 1.54%.
Price between closes
$237.38 → $237.38Close of November 10 and November 11
Fair value (ATLAS)
$281.66Fair range: $204.42 to $471.45The price ($237.38) is 15.7% below that figure.
Chance of a rise in 1 month
52%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $227.72 and $248.96; 9 in 10, between $210.41 and $269.44.
S&P 500 between the same closes (November 10 and November 11): 7,520.93 → 7,646.63 points, +1.67%.
What happened
ProPublica reported that Bill Gates owns a dominant stake in Republic Services, America's second-largest landfill operator, and has not made the company live up to his own climate principles [2]. Republic Services shares rose 0.17% between the November 10 and November 11 closes, a period in which the S&P 500 rose 1.67%.
ProPublica said Bill Gates has quietly accumulated a $29 billion stake in Republic Services, which it describes as America's No. 2 landfill operator. The outlet said he has failed to make the company live up to his own climate principles [2].
According to ProPublica, EPA inspectors have repeatedly found methane, a highly potent greenhouse gas, escaping from Republic landfills at levels above federal limits. It also reported that Republic has lobbied against regulations that could make the waste industry cleaner, including keeping organic garbage out of landfills [2].
A headline from Newser describes Gates's landfill investments as clashing with his climate crusade [3]. Separately, a local report from San Antonio announced a Free Landfill Day on Saturday, Nov. 14, from 8 a.m. to 1 p.m. at two landfill locations, which is unrelated to the ProPublica report [1].
What ATLAS data show
ATLAS model estimates put Republic Services' fair value at $224.13, within a range of $142.66 to $324.97. The latest price is 10.66% above that estimate. For Waste Management, the model estimate is $281.66, within a range of $204.42 to $471.45, and the price is 15.72% below it. These are model estimates, not promises, and they do not indicate what any share price will do.
Two prices moving between closes at the same time as a news report is a coincidence in time, not proof that one caused the other. The figures come from closing prices and may change.
What you get with ATLAS
Fair value of each company, with its range, against today's price.
Chance of a rise in 1 month and the normal price range, from a calibrated model.
Earnings: next date, estimated EPS and surprise history.
Dividends and alerts by email when a company reports.
Closing prices, fair value, probabilities, earnings and dividends: ATLAS own data as of November 12, 2026. How we calculate fair value.
Information, not advice. This content is informational and is not an investment recommendation or an offer to buy or sell securities. ATLAS estimates come from statistical models using public data, can be wrong, and past performance does not guarantee future results. Disclaimer
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