Bill Gates, the fourth richest person in the world, currently owns 242,000 acres of farmland, making him the top private farmland owner in America, according to Forbes. Ownership of Angelina Plantation Farms, which sits among three wildlife areas in Monterey with a view of Bayou Cocodrie, and other property has been a . Arable land is not just profitable. The foundation aims to support country-led inclusive agricultural transformation across sub-Saharan Africa and South Asia, according to its website. (Ruth Fremson/The New York Times) (Ruth Fremson / The New York Times via Redux Pictures), John Quarterman on his farm in Lowndes County, Ga. (Matt Odom / for NBC News), John Quarterman stands by the Withlacoochee River. Dailymail.com Reporter Land holds ample opportunities for growth and development, yet you may find that there is more land than there is competition. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'askbamland_com-leader-1','ezslot_8',107,'0','0'])};__ez_fad_position('div-gpt-ad-askbamland_com-leader-1-0'); Even if you buy the land with the purpose of selling it at a later time when the area undergoes more development, you can still use the land in the meantime. But theyre far better known for their work in tech and in trying to save the climate. In January 2021, Bill Gates became the largest owner of farmland in the United States. Now in its 15th edition, this landmark study tracks the diverse array of farmers, ranchers, forest owners, entrepreneurs, and investors who own at a minimum 243.75 square miles. The agriculture sector is important, he wrote. And in Florida, farmers grow carrots on their property. The company also took to Twitter to reject the false narrative. For Indigenous caretakers, land use isnt premised on a return of investments; its about maintaining the land for the next generation, meeting the needs of the present, and a respect for the diversity of life. The 14,000 acres in Washington is used for potatoes and in Florida the land is used for carrots. But farmer advocates say the Gateses large-scale farm purchases dont make room for smaller farmers to break into the market. Right? Farmland CNBC 2.94M subscribers Subscribe 47K 4.5M views 1 year ago #CNBC Bill Gates made. The Microsoft co-founder has reportedly purchased an $8.9 million Wyoming ranch that was once the stomping grounds of Buffalo Bill . (AP Photo/Michael Probst, File ), Connect with the definitive source for global and local news. Its a hedging strategy, said Daniel Bigelow, a professor of agricultural economics at Montana State University, who previously served as a USDA research economist. Gates and his investment team own more than 240,000 acres, as reported by Eric O'Keefe, including 2,167 acres in Michigan. The attraction that people have to investing in farmland is that it tends to be countercyclical to the stock market. In May, Bill Gates also transferred about $850 million in shares of the agricultural machinery company John Deere to his wife after the two shared publicly their plans to divorce. Why aren't they giving more? 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Another 5,500 acres was sold to Generation Land Georgia, a company that shares an address with Miami-based Optimum Agriculture, which bought Generations Farms in 2019. He is an assistant professor in the American studies department at the University of New Mexico. Cascade Investments declined to comment on its interest in acquiring so much American farmland, but a spokesperson for the firm, Charles V. Zehren said it is very supportive of sustainable farming. He pointed out that in 2020, the acreage that Bill Gates firm owns was all enrolled in a sustainability program. Much of Turner's land is used as grazing land for over 50,000 head of buffalo the largest private herd of bison in the world. Though the Gateses are major owners of American farmland, the couples holdings only represent a fraction of the 283 million acres of farmland that is owned and rented out by nonfarmers. Farmland can be an investment in several ways. The largest. The worlds richest 1% emit double the carbon of the poorest 50%, an 2020 Oxfam study found. Estate in Indian Wells, California: $12.5 Million. His first major purchase was Bell Ranch in New Mexico, a 290,100-acre plain saturated with mesas, rimrock canyons, pastures and a bell-shaped mountain. Reed family: Land area: 1.7 million acres. That was a virus I got from Ted Turner.. That's one of the many takeaways from the 2021 Land Report 100, which is compiled each year by Land Report magazine. They said farmland has been a popular investment for a long time because of its stability. One of the largest plots of land owned by a subsidiary of the Gateses investment arm in Louisiana, Angelina Plantation, was previously owned by former WorldCom CEO Bernard Ebbers, who died last year, a month after being released from prison. When pressed during a book discussion on Reddit about why hes gobbling up so much farmland, Gates claimed, It is not connected to climate [change]. The decision, he said, came from his investment group. Cascade Investment, the firm making these acquisitions, is controlled by Gates. The farmland was purchased through a constellation of companies that all link back to the couples investment group, Cascade Investments, based in Kirkland, Washington. He now owns more farmland than my entire Native American nation. Additionally, through his personal investment firm, Cascade, Bill Gates owns approximately half of the Four Season Holdings' hotel chain. Private Residence at the Yellowstone Club in Big Sky, Montana: Estimated $5-25 Million. Bill Gates acquired six parcels of land in Pembina County. Investors bought a record 18.4% of the homes purchased in the fourth quarter of 2021 three-quarters of which were single-family homes. Gates diversified his investment portfolio through land ownership, but why? Bill Gates is now the largest private landowner in the country. Weve never been one of the big institutional buyers of single family homes, BlackRock said in response to one tweet. Bill Gates, the billionaire founder of Microsoft, has been revealed as the biggest private owner of farmland in the US, after buying up 242,000 acres in 18 states. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. Bill Gates does not own the majority of U.S. farmland. He is also the chairman and largest stakeholder of Liberty Media, possessing 28% of Discovery Communications, which was acquired by Scripps Network for $14.6billion. The acquisition, however . It may even be easier to sell smaller lots than it would be to market the entire portion of land that you invest in. The billionaire tech mogul and philanthropist has quietly amassed nearly 270,000 acres of farmland across the country, but thats still a relatively small slice of the nations nearly 900 million total farm acres. While land is a limited resource, there is still less competition for raw land than there is with residential and commercial real estate. While those companies dont explicitly name Cascade Investments as the owner in their public records, they do share the address of Cascade in Kirkland, Washington, or the address of a Cascade subsidiary, list the names of Cascade employees who registered the companies and sometimes even email addresses from the Bill and Melinda Gates Investment Group. Bill Gates, one of the most powerful billionaires in the world and co-founder of tech giant Microsoft, and wife Melinda are ending their 27-year marriage, the two tweeted in unison on Monday. Thats where the Gateses began buying land in 2013 through two limited liability corporations registered to an address in Kirkland by Derek Yurosek, then head of agriculture operations for Cascade. Malone made the decision to put billions of his wealth into land ownership after spending a summer working on a family farm in Pennsylvania. Almost 300,000 acres is a lot of land for one family or private individual to own, but it's still just a. Renewable energy company Savion has an option to buy the property for what . Real estate mogul and owner of the Los Angeles Rams, Stan Kroenke, owns 1.4 million acres of land in the United States, including a 124,000 acre ranch in Montana and additional land in Wyoming. In 2014, Cascade Investments combined both of those companies and the land into Generations Farms, which continued to grow vegetables. Small farmers and Indigenous people are more cautious with the use of land. But some farmers whose land is adjacent to that of the Gateses have expressed disappointment that despite the couples wealth, they have not done more to preserve the environment. The extensive tax avoidance by these titans of industry will always far exceed their supposed charitable donations to the public. The farmland real estate investment trust (REIT) Farmland Partners, which owns 156,500 acres in 16 US states, has seen its traded value more than double since November and is trading near an. Last year, Cascade Investment made a second major investment in Arizona by acquiring more than 2,800 acres known as Spurlock Ranch in Buckeye for $25 million, that could be built out to include 8,500 homes. So why did the Land Report, Our History Is the Future: Standing Rock Versus the Dakota Access Pipeline, and the Long Tradition of Indigenous Resistance. In 2014, he co-founded The Red Nation, an Indigenous resistance organization. The billionaire recently came under severe criticism from a fourth-generation farmer in South Georgia for his farmland ownership in the U.S. Will Harris, who owns a 152-year-old family farm named. The state's Republican Attorney General Drew Wrigley had inquired into the land sale, and on Wednesday issued a letter saying the transaction complied with an archaic anti-corporate [] While the Gates own a lot of farmland, nonfarmers own 283 million acres of farmland throughout the U.S. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'askbamland_com-medrectangle-4','ezslot_3',103,'0','0'])};__ez_fad_position('div-gpt-ad-askbamland_com-medrectangle-4-0'); This article will go into detail about how much land Bill Gates owns and why he owns so much. Murdaugh is heckled as he leaves court, Ken Bruce finishes his 30-year tenure as host of BBC Radio 2, Ukrainian soldier takes out five tanks with Javelin missiles, Family of a 10-month-old baby filmed vaping open up, Missing hiker buried under snow forces arm out to wave to helicopter, Hershey's Canada releases HER for SHE bars featuring a trans activist, Moment teenager crashes into back of lorry after 100mph police race. According to the Land Report 100 Research Team, that figure is currently more than twice that amount, which means Bill Gates, cofounder of Microsoft, has an alter ego: Farmer Bill, the guy who owns more farmland than anyone else in America. Housecall is the official blog of RISMedia, covering real estate news and information for agents, brokers and their clients. Land will likely never be a bad investment, as long as the land is healthy and properly located. There, on Gates parcels, an industrial farm grows potatoes for McDonalds french fries. In other words, when the economy is struggling, the value of farmland generally doesnt depreciate. 4 FILE - Bill Gates attends a discussion during the 'Munich Security Conference' in Munich, Germany, Friday, Feb. 18, 2022. There are also ways to generate passive income on the land without selling it because you can lease the land or sell the mineral rights, among other methods. That's basically the motivation there. Both companies were founded in 2012 with the same address as Cascade Investments in Kirkland, which later changed its mailing address to a Louisiana post office box assigned to Oak River Farms, another subsidiary of Cascade. The conservation of lands is important, he said. But they're just renting it. Quarterman guessed that may be because Bill Gates isnt the one doing the farming. An NBC News analysis also identified Gates as the largest farmland owner in the US. The Microsoft co-founder is considered the largest private owner of farmland in the country with some 269,000 acres across dozens of states, according to last years edition of the Land Report 100, an annual survey of the nations largest landowners. Stan Kroenke: Land area: 1.4 million acres. In fact, Gates is the owner of over 270,000 acres of farmland, which is worth over $700 million! Bill Gates is the largest private owner of American farmland, which is why so many people are wondering what he will use it for. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'askbamland_com-large-mobile-banner-2','ezslot_9',109,'0','0'])};__ez_fad_position('div-gpt-ad-askbamland_com-large-mobile-banner-2-0'); Raw land can be a great way to generate passive income or even spur large profits in the long term (or even short term if you know what you are doing). This is part of APs effort to address widely shared misinformation, including work with outside companies and organizations to add factual context to misleading content that is circulating online. The value depends on a lot of factors including location, type of land, acreage, supply, demand, and more. In fact, he reportedly owns more farmland than any other individual in America. That makes Invitation Homes the largest operator of single-family rental homes in the country, but still represents a tiny fraction of all such homes. Bill Gates had managed to purchase nearly 269,000 acres of land in more than 12 states in the US. And we think it will provide good inflation protection in the long run. But a Gates spokesperson said in a statement on Friday that the claim that hes bought the majority of the nations farmland is false, pointing to. The Gates Rancho Santa Fe estate was purchased in 2014 because of its horse stables and proximity to a local race horse track. Land holds ample opportunities for growth and development, yet you may find that there is more land than there is competition. But even with his big new agricultural holdings, Gates still doesn't rank in the Top 100 of private landowners overall in the U.S. - when considering owners of land of all types, not just agricultural. Seems like there could be a lot to benefit more of their charities by selling some of this off. Bill Gates is buying up the majority of American farmland and BlackRock is buying the majority of single family houses but Im supposed to believe the biggest threat to us is Elon Musk buying Twitter? read one representative tweet thats been liked or shared on the platform more than 250,000 times. In May, Microsoft co-founder Bill Gates and his wife Melinda Gates revealed in a Twitter statement their decision to end their marriage after 27 years. Lets take a look at some of the reasons that land, particularly raw land, can be a good investment for Bill Gates or anybody else, including you. There are more than 85 million single-family homes in the country, and only around 15 million of those are rentals, according to the latest American Housing Survey by the Census Bureau. In total, Gates owns approximately 242,000 acres of farmland with assets totaling more than $690m. The relationship to land who owns it, who works it and who cares for it reflects obscene levels of inequality and legacies of colonialism and white supremacy in the United States, and also the world. Malone continued, the forestry part of it in the Northeast is a pretty good business, with very low return on capital, but very stable and leverageable. They add it will take those with large parcels of land, like the Gateses U.S. farmland holdings, to do it. The private residential area is home to numerous A-list celebrity couples including Justin Timberlake and Jessica Biel. This is part of APs effort to address widely shared misinformation, including work with outside companies and organizations to add factual context to misleading content that is circulating online. TRENDING: OUCH! As more and more land gets developed, if you own land that is in the path of the plan, you could have buyers offering you big money to take hold of the property. For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. Beach House in Del Mar, California: $43 Million. A 2018 purchase of 14,500 acres of prime eastern Washington farmland - which is traditional. According to 2021 article from the Land Report, a magazine about land ownership, Gates owns approximately 242,000 . As of 2020, industry reports show he owned about 0.027% of U.S. farmland. LITTLE ROCK, Ark. The Microsoft co-founder faced several claims that he owned a majority of America's farmland earlier this year. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. Buffalo Bill Cody's Ranch in Cody, Wyoming: Undisclosed Sale Price (Listed for $8.9 Million). from February that showed there were more than 895 million total acres of farmland in the country last year. The firm is a shareholder in Dallas-based Invitation Homes, which owns nearly 80,000 single-family rentals nationwide. Starting in 2012, Gates investment firm began buying family farms in South Georgia. There is a certain irony, of course, about Gates, 65, becoming the USA's biggest private owner of farmland, which American publication the Land Report recently declared him to be. Many people wonder why Bill Gates would make these moves with his investment portfolio. (Google Maps), Image: The building housing the offices of Cascade Investment in Kirkland, Wash., on May 22, 2021. Gates' achievement, according to the report, is that he's largest private owner of farmland in the US. Bill Gates top private farmland owner in US. The tech mogul, who is the. In north Louisiana, the Gateses investment firm owns about 70,000 acres of land through at least three other shell companies. The 66,000-square-foot home overlooks Lake Washington and, although there is no exact estimate of the homes value currently, it had a total assessed value of $147.5 million on 2009 property tax documents. 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In Georgia and Florida, NBC News independently confirmed through research of property records that the Gateses investment firm owns more than 7,000 acres through two limited liability companies, Lakeland Sands and Lakeland Sands Florida, LLC. I mean, it is unlikely that one of the richest people in the world would invest in something that wasnt a good investment, right? In total, Bill and Melinda Gates have acquired land in more than a dozen states. Hes the landlord, or rather, the companies owned by his investment firm are the landlords. When Bill Gates, or whatever other investment arm owns the land, a farmer still needs to farm it. At this valuation, Gates likely paid close to $2 billion for the luxury-hotel business. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'askbamland_com-large-leaderboard-2','ezslot_5',106,'0','0'])};__ez_fad_position('div-gpt-ad-askbamland_com-large-leaderboard-2-0'); While farmland, and land in general, will undergo economic factors and changes to demand, it is very likely to increase in value as the years roll by. The third richest man on the planet doesnt have a green thumb. retail, office buildings, hotels and apartment complexes, rather than single-family homes, but he declined to provide a breakdown. BlackRock also suggested it was being confused for the similarly-named investment management firm Blackstone, which until recently owned Invitation Homes. THE FACTS: As Elon Musks bid to purchase Twitter has grabbed headlines in recent days, some prominent voices have taken to social media to claim that some other significant acquisitions by deep-pocketed individuals and corporations have largely flown under the radar. As more and more land gets developed, if you own land that is in the path of the plan, you could have buyers offering you big money to take hold of the property. The Gates family currently [] Bill Gates owns a lot of American farmland, but not the majority By PHILIP MARCELO May 2, 2022 CLAIM: Microsoft co-founder Bill Gates owns the majority of America's farmland and the investment firm BlackRock holds the majority of single family houses in the country. , updated His largest holding is in Louisiana (69,071 acres), followed by Arkansas (47,927 acres) and Arizona (25,750 acres). Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. The Microsoft co-founder and his former wife, Melinda, are the top farmland owners in. Bill Gates owns more private farmland in the US than anyone else, an analysis by The Land Report found. Bruere said some states such as Iowa enforce foreign ownership restrictions to prohibit foreign ownership or limit . One answer might surprise you: While trying to track down who recently purchased 14,500 acres of choice farmland in Washington state's Columbia River Basin, researchers at The Land Report discovered the new owner was Microsoft co-founder Bill Gates. Is this simply a diversification of Gates' massive tech investment portfolio? One of those farms, Stanley Farms, specialized in Vidalia onions, and another, Coggins Farms, focused on growing carrots. The biggest shift in recent years from small to big farms was in the US. The report on US Land Ownership ("Land Ownership Report" / 1-21-22) indicates that Bill Gates, the founder of Microsoft and holder of 45% of its shares, is the main owner of North American land, owner of an area of more than 250,000 acres (101,171.4 hectares) deployed throughout the immense US territory, the fourth in the world in order of . Public records suggest Cascade Investments has bought its farmland through a web of at least 22 limited liability shell companies across the country. What expertise in climate science or agriculture Gates possesses beyond being filthy rich is anyones guess. (Matt Odom / for NBC News), Image: John Quarterman (Matt Odom / for NBC News), Image: Philanthropist and co-founder of Microsoft, Bill Gates and his wife Melinda listen to the speech by French President Francois Hollande, prior to being awarded Commanders of the Legion of Honor at the Elysee Palace in Paris (Kamil Zihnioglu / Pool via Reuters), American businessman and philanthropist (born 1955). Since then, weve sold to dozens of people from ATV weekend warriors to camping enthusiasts to retired truck drivers. The billionaire recently came under severe criticism from a fourth-generation farmer in South Georgia for his farmland ownership in the U.S. Will Harris, who owns a 152-year-old family farm named. A 2018 purchase of 14,500 acres of prime eastern Washington farmland which is traditional Yakama territory for $171m helped him get that title. The Microsoft co-founder is considered the largest private owner of farmland in the country with some 269,000 acres across dozens of states, according to last years edition of. Gates shares ownership with Saudi Prince Alwaleed bin Talalthe two purchased the chain in 2007 for $3.8 billion. Bill Gates has never been a farmer. 2023 NYP Holdings, Inc. All Rights Reserved, BillGatesbuys nearly $1B Heineken stake despite not being a big beer drinker, Bill Gates daughter living in $51M NYC home as she welcomes first baby, Elites want to use AI to censor political opponents, Bill Gates claims his private jet habit not part of the climate problem. CNN founder Ted Turner owns 2 million acres of land largely in New Mexico, South Dakota, Nebraska, and Georgia. Its uncertain why Gates has invested in so much farmland or how his tracts are currently being used. It is possible to make high double digit returns on land that you bought for an affordable price only a few years prior. You can email us at contact@askbamland.com. According to the Land Report in 2021, the Gateses had 242,000 acres of farmland, 1,234 acres or recreational land, and 25,750 acres of land that was in transition from farmland to residential and . The biggest chunks of Gates holdings are in Louisiana and Arkansas, where he owns 69,071 acres and 47,927 acres, respectively, the outlets research found. Quarterman also serves as the Suwannee Riverkeeper and advocates for conservation of the intricate network of springs and rivers in the region, where water from the swamps of Georgia flow into Florida before they release into the Gulf of Mexico.

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