The Microsoft co-founder has reportedly purchased an $8.9 million Wyoming ranch that was once the stomping grounds of Buffalo Bill . Farmer Bill. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. He also owns three hotels in Dublin, Ireland, and a fourth in Limerick. Bill Gates does not own the majority of U.S. farmland. Bill Gates owns more private farmland in the US than anyone else, an analysis by The Land Report found. The Associated Press reports that last week, billionaire Microsoft founder Bill Gates was cleared to purchase 2,100 acres of rural North Dakota farmland. Bill Gates top private farmland owner in US. 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. 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. Investors bought a record 18.4% of the homes purchased in the fourth quarter of 2021 three-quarters of which were single-family homes, according to real estate firm RedFin. That means Gates, whose net worth is estimated at some $134 billion according to Forbes annual ranking of the richest people in the country, owns less than one percent of the nations total farmland. Single-family homes are priced between $5-25 million. There is only a certain amount of land available on earth. Since then, weve sold to dozens of people from ATV weekend warriors to camping enthusiasts to retired truck drivers. It makes no sense.. the latest American Housing Survey by the Census Bureau. The worlds richest 1% emit double the carbon of the poorest 50%, an 2020 Oxfam study found. The Emmerson family owns and operates Sierra Pacific Industries, a company that logs usable lumber after forest fires and sells it to lumber retailers. The billionaire Microsoft co-founder has become the largest owner of farmland in the. And the firm said its very supportive of sustainable farming. Gates shares 95% of the ownership with Saudi Prince Alwaleed bin Talal. Thats why lands still managed by Indigenous peoples worldwide protect and sustain 80% of the worlds biodiversity, practices anathema to industrial agriculture. Hes the landlord, or rather, the companies owned by his investment firm are the landlords. 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., ill Gates has never been a farmer. 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. Someone else is building that equity on their back, said Johnathan Hladik, the policy director at the Center for Rural Affairs, who is also a farmer in Nebraska. These land holdings are separate from their previous investments in companies that support large-scale farming like Monsanto and the tractor manufacturer John Deere. The attraction that people have to investing in farmland is that it tends to be countercyclical to the stock market. They said farmland has been a popular investment for a long time because of its stability. That's basically the motivation there. 07:04 GMT 16 Jan 2021. The land is owned both directly and indirectly by Cascade Investment, the Seattle-area firm that Gates the worlds third-richest man with a net worth of $132 billion, according to Bloomberg set up to manage his massive fortune, according to The Land Report. You can read more about us, here. One of the Gates' favorite vacation homes is in the Yellowstone Club in Big Sky, Montana. According to The Land Report, the Microsoft co-founder owns farmland across 18 states, with the largest holdings being in Louisiana (69,071 acres), Arkansas (47,927 acres) and Nebraska (20,588. He owns significantly more farmland than Minnesota's Offutt family and California's Resnick family, which each own 190,000 acres and rank second equal on the list. It also offers proven return rates. They bought and later sold an additional 6,000 acres in Georgia, NBC News found. Through his subsidiary Mt. The billionaire knows best mentality detracts from the deep-seated realities of colonialism and white supremacy, and it ignores those who actually know best how to use and live with the land. Buffalo Bill Cody's Ranch in Cody, Wyoming: Undisclosed Sale Price (Listed for $8.9 Million). Bill Gates now owns more farmland than anyone else in the United States, as the tech tycoon has quietly purchased 242,000 acres of farmland in several states across the country. But he didn't, Quarterman said. . The sale was notable because it added to Gates' farmland holdings which includes large tracts of land in Illinois, Iowa, Louisiana, California, and about a dozen other states. The Gates Foundation said in a statement that its agriculture efforts do not extend to farming in the U.S. ', Cascade did not elaborate on the agricultural land purchases other than to say that the company is 'very supportive of sustainable farming.'. John Malone is the largest private landowner in the United States. The 13,573-square-foot home has six bedrooms, 11 bedrooms and more luxury features than you can count. Here is an overview of all of the property the couple owned together at the time of their divorce: Bill and Melinda dont publicly discuss this topic often, but they are the top owners of farmland in the U.S. With some 242,000 acres, the estimated value of their farmland is in the billions. Bill Gates has invested in various high-profile commercial properties through his personal investment company, Cascade. Bill Gates uses farmland as investment vehicle, owning 269,000 acres of land. And we think it will provide good inflation protection in the long run. What expertise in climate science or agriculture Gates possesses beyond being filthy rich is anyones guess. If you own a good amount of land, then you have the possibility of subdividing it into multiple lots that can generate separate income streams. retail, office buildings, hotels and apartment complexes, rather than single-family homes, but he declined to provide a breakdown. This will always be true, no matter where the land is. In terms of agriculture and his practices Bill Gates, Microsoft billionaire, may be more than . 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. As the population grows in large cities, some people will inevitably want to move to the country. Gates and his investment team own more than 240,000 acres, as reported by O'Keefe, including 2,167 acres in Michigan. He also purchased the 800-acre Bridlewood Farms in Florida. It will not tell you that Bill Gates is your neighbor. 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. MINOT, N.D. North Dakotans like to pride themselves on being pro-property rights. For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. Is this simply a diversification of Gates' massive tech investment portfolio? You may also be interested in why a billionaire wants land. We've received your submission. 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 firm is a shareholder in Dallas-based Invitation Homes, which owns nearly 80,000 single-family rentals nationwide. This means that you can find good deals that may be just the thing you are looking for. Weve never been one of the big institutional buyers of single family homes, BlackRock, single-family rentals nationwide. Thanks for contacting us. So if now the best farmers can do if you want to stay in farming is rent this land, you're not going to get the benefits that come with land ownership.. 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 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. Do whatever you want to with the land as the value increases. Farmland can be an investment in several ways. 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. Listen to article. An NBC News analysis also identified Gates as the largest farmland owner in the US. Quarterman guessed that may be because Bill Gates isnt the one doing the farming. Leading Harvest requires farmland owners to work to continuously improve soil health, biodiversity, and water, air and crop quality on their farms as well as contribute positively to local communities, comply with regulations, and provide a safe and respectful working environment for employees, Zehren said. In north Louisiana, the Gateses investment firm owns about 70,000 acres of land through at least three other shell companies. He never did anything that different from before he got here and what other farmers were doing nearby.". They add it will take those with large parcels of land, like the Gateses U.S. farmland holdings, to do it. In 2014, he co-founded The Red Nation, an Indigenous resistance organization. These shell companies have made it difficult to find out where and how much farmland the Gateses own even for local farmers, like John S. Quarterman, a farmer and landowner who grows okra, corn, squash and other vegetables in Lowndes County on the southern edge of Georgia. In fact, he owns some of the land that produces potatoes used to make McDondalds french fries. The Gates Rancho Santa Fe estate was purchased in 2014 because of its horse stables and proximity to a local race horse track. Data gathered by The Land Report and NBC News show that their land holdings range from 70,000 acres in north Louisiana, where their farmland grows soybeans, corn, cotton and rice, to 20,000 acres in Nebraska, where farmers grow soybeans. Wonderful Company cofounders Stewart and Lynda Resnick (net worth: $7.1 billion) ranked number three . As more and more land becomes developed, less and less raw land is available, which potentially increases the value as demand remains the same or even increases. 4. The gun and the whip may not accompany land acquisitions this time around. This way, the land will remain productive and healthy, while also becoming a money-driving investment. But Gates, known for his philanthropic work solving some of the worlds most pressing public health and climate problems, has suggested that he does not treat his American farmland investments as part of his broader plans to save the planet. The value depends on a lot of factors including location, type of land, acreage, supply, demand, and more. In total, Malone owns roughly 2.2million acres of land and has a net worth of around $9.22billion, earning him the nickname the Cable Cowboy.. In emails, BlackRock spokesman Christopher Beattie told The Associated Press that the firm. A MAP has revealed which billionaire owns the largest amount of land in the US - youll be shocked to know that it isnt Bill Gates. (Google Maps), Image: The building housing the offices of Cascade Investment in Kirkland, Wash., on May 22, 2021. Learn more about fact-checking at AP. of the richest people in the country, owns less than one percent of the nations total farmland. The title for largest landholdings overall goes to US businessman John Malone, chairman of Liberty Media, who owns 2.2million acres. These billionaires have nothing to offer us in terms of saving the planet unless its our land back. A survey of the Gateses farmland holdings shows that a broad range of the vegetables that Americans eat can be traced back to his land and that some of this land has also been owned by other billionaires. He added: 'In addition, the states oldest winery, Chateau Ste. Bill and Melindas main residenceand by far their most impressive homeis a massive compound in Medina, Washington nicknamed 'Xanadu 2.0' in a reference to, Undisclosed Sale Price (Listed for $8.9 Million). Although the Bill & Melinda Gates Foundation is not directly connected with Cascade or its investments, it also has a farmland initiative: Gates Ag One, established in the Greater St. Louis area, with a mission to help 'smallholder farmers adapt to climate change and make food production in low- and middle-income countries more productive, resilient, and sustainable. 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. , an annual survey of the nations largest landowners. The United States is defined by the excesses of its ruling class. TRENDING: OUCH! A 2018 purchase of 14,500 acres of prime eastern Washington farmland - which is traditional. America's leading landowners added hundreds of thousands of acres to their holdings last year. The comments below have not been moderated, By - Bill and Melinda Gates are taking on the new title of the biggest farmland owners in the United States, with a good chunk of that ownership being in Arkansas. 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. But Zehren of Cascade noted that the firm has been working in Florida and elsewhere to promote ecologically conscious agriculture and that it plans to continue to evaluate its farmland portfolio to improve its overall sustainability. According to landreport.com, the Gates family has a total of 242,000 in farmland acreage in the United States. 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. The 65-year-old's largest holdings include 69,071 acres in Louisiana, 47,927 acres in Arkansas,25,750 acres in Arizona, 20,588 acres in Nebraska and16,097 in Washington state. Those animals, which are sacred to my people and were nearly hunted to extinction by settlers, are preserved today on nearly 200,000 acres of Turners ranchland within the boundaries of the 1868 Fort Laramie Treaty territory in the western half of what is now the state of South Dakota, land that was once guaranteed by the US government to be a permanent home for Lakota people. He's one of the richest men in the world and the largest individual owner of farmland in the country. Gates achievement, according to the report, is that hes largest private owner of farmland in the US. Lemmon Holdings, the billionaire spent $80 million to purchase. 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 . Since then, it has been revealed that the two never signed a prenuptial agreement, instead opting for a separation agreement. The process of splitting the couples assets will be a mammoth task. In total, Bill and Melinda Gates have acquired land in more than a dozen states. Private Residence at the Yellowstone Club in Big Sky, Montana: Estimated $5-25 Million. While he owns a significant amount, it is a relatively small slice of the nations nearly 900 million total farm acres. Since it works as an investment for him, it also includes the benefits of using land as an investment like he does. Renewable energy company Savion has an option to buy the property for what is being called Oak Run Solar Project, according to Madison County property records. We think we now know. It is unclear why Gates, better known as a self-confessed computing 'nerd', has invested in farmland so heavily, and details of the land are scarce,as revealed in The Land Report. By , said his investment group was behind the purchases, and suggested it was linked to seed and biofuel development. Renewable energy company Savion has an option to buy the property for what . In six years that number has more than doubled. Farmland CNBC 2.94M subscribers Subscribe 47K 4.5M views 1 year ago #CNBC Bill Gates made. The outlet reported this week that Gates, 65, owns 268,984 acres of. 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. Bill Gates may be trading his pocket protector for cowboy boots. 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. Xanadu 2.0 in Medina, Washington: Estimated $140-170 Million, Source: Steve Ringman / The Seattle Times. BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. Why should striking rail and postal workers get a big pay rise while our pay packets remain stagnant or worse? According to 2021 article from the Land Report, a magazine about land ownership, Gates owns approximately 242,000 . 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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. Media billionaire Ted Turner has also invested in 2 million acres of land (much of it rangeland and prairie, rather than cropland) and earned the distinction of being the largest private owner of buffalo herds that roam the 200,000 acres of his private ranch, The Guardian reported. Bruere said some states such as Iowa enforce foreign ownership restrictions to prohibit foreign ownership or limit . In an interview with CNBC, Malone said that his biggest motivation for purchasing land was preservation and he said he hopes to buy more. Microsoft co-founder Bill Gates finally revealed the reasons behind his massive purchase of farmland: seed science and biofuel development. This means that you can find good deals that may be just the thing you are looking for. In 1994 Bill and Melinda Gates are said to have hired Michael Larson to help them diversify their property portfolio. Tuesday, the office of the Attorney General sent out a letter asking the Red River Trust to confirm how the company plans to use the land . CNN founder Ted Turner owns 2 million acres of land largely in New Mexico, South Dakota, Nebraska, and Georgia. Weve never been one of the big institutional buyers of single family homes, BlackRock said in response to one tweet. Bill and Melindas main residenceand by far their most impressive homeis a massive compound in Medina, Washington nicknamed 'Xanadu 2.0' in a reference to Citizen Kane. The potential is endless. In fact, he reportedly owns more farmland than any other individual in America. 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Although the sale price has never been made public, the 492-acre home was listed for $8.9 millionand we cant imagine Bill and Melinda doing much haggling. That title goes to John Malone, the former CEO of Tele-Communications Inc, which was purchased by AT&T Inc in 1999 for more than $50billion. These purchases are also a direct result of their daughters equestrian career hopes because of Wellingtons close proximity to the Palm Beach International Equestrian Center. Land holds ample opportunities for growth and development, yet you may find that there is more land than there is competition. More surprising, however, was the fact that Bill and Melinda Gates own more private farmland . According to Forbes, the worlds billionaires saw their wealth swell by $1.9tn in 2020, while more than 22 million US workers (mostly women) lost their jobs. A 2014 Wall Street Journal profile of Larson, Cascade's chief investment officer, hinted at the beginning of that portfolio, after the piece noted that the firm owns 'at least 100,000 acres of farmland in California, Illinois, Iowa, Louisiana and other states or an area seven times bigger than Manhattan.'. Bill Gates currently owns over 268,000 acres of American farmland spread out over 19 states. If you are unsure where to start, you can also check country tax sales. A hint at Gates huge farm holdings emerged in a 2014 Wall Street Journal profile of Michael Larson, the money manager who serves as Cascades chief investment officer. (Stephen Osman / Los Angeles Times via AP file), The buildings of the 100 Circles Farm are at the center of this satellite image. The map shows a 242,000 acre square situated over New York. In other words, when the economy is struggling, the value of farmland generally doesnt depreciate. You just have to keep it relatively clean, mow it, and pay property taxes. His largest holding is in Louisiana (69,071 acres), followed by Arkansas (47,927 acres) and Arizona (25,750 acres). 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. When Bill Gates, or whatever other investment arm owns the land, a farmer still needs to farm it. by Harvard Universitys Joint Center for Housing Studies. Seems like there could be a lot to benefit more of their charities by selling some of this off. Malone owns several ranching and real estate businesses predominantly in Maine, New Mexico, Colorado and Wyoming. BlackRock also does not own the majority of the countrys 80 million single-family homes. While Gates owns nearly 270,000 acres of farmland across the US, he isnt the largest landowner in the country. Except, it seems, when it comes to a private individual selling some land to iconic billionaire Bill Gates. 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. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. Which is where the Bill Gates' Land Ownership interactive map comes in. Gates' achievement, according to the report, is that he's largest private owner of farmland in the US. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them, BlackRock tweeted. According to the Tri-City Herald, 14,500 acres of Eastern Washington farmland was recently sold to the couple for almost $171 millionthats nearly $12,000 an acre. Gates is now America's largest private farmland owner, with hundreds of thousands of acres spanning across 19 U.S. states, according to the Land Report. But billionaire class assertions that they are philosopher kings and climate-conscious investors who know better than the original caretakers are little more than ruses for what amounts to a 21st century land grab with big payouts in a for-profit economy seeking green solutions. 4 At this valuation, Gates likely paid close to $2 billion for the luxury-hotel business. You can also fill out the contact form below if you are interested in buying or selling land. Much of Turner's land is used as grazing land for over 50,000 head of buffalo . According to O'Keefe, Gates isn't the only one making moves on the farmland market, especially as farm real estate values nationwide increased 7% from 2020 to $3,390 per acre. LITTLE ROCK, Ark. So why did the Land Report dub him Farmer Bill this year? While private companies and corporations are increasing . CLAIM: Microsoft co-founder Bill Gates owns the majority of Americas farmland and the investment firm BlackRock holds the majority of single family houses in the country.