Gates' achievement, according to the report, is that he's largest private owner of farmland in the US. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. Last year, Bill and Melinda purchased a sprawling beachfront 6-bedroom, 4-bath home in Del Mar, Californiaoutside of San Diegofor $43 million. Why aren't they giving more? than 85 million single-family homes in the country, and only around 15 million of those are rentals, Of those rentals, less than a third are owned by non-individual investors, according to. The billionaire couple, in less than a decade, have accumulated more than 269,000 acres of farmland across 18 states, more than the entire acreage of New York City. 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. The billionaire Microsoft co-founder has become the largest owner of farmland in the United States by quietly buying up massive plots across the county, a new report says. Malone's 2.2 million acres are largely located in Maine, New Mexico, Colorado, and Wyoming and include profitable cattle ranches. Bill Gates was quietly becoming the biggest private owner of farmland in the United States. The Microsoft co-founder acquired 14,500 acres of the fertile land in 2018, helping to make him the largest private farmland owner in the US, with total holdings of almost 250,000 acres,. 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 is best known for revolutionizing personal computing, but lately he's gotten back to the land. The private residential area is home to numerous A-list celebrity couples including Justin Timberlake and Jessica Biel. His firms largest farmland acquisition happened in 2017, when it acquired 61 farming properties from a Canadian investment firm to the tune of $500m. 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. Malone also has 25% shares in Liberty Global, the largest international cable company with just under 30million subscribers, and owns 8% of the Atlanta Braves baseball team. The tech mogul, who is the fourth richest person in the world with a net worth of $121billion, according to Forbes, has quietly built up a massive agriculture portfolio. The potential is endless. One of the Gates' favorite vacation homes is in the Yellowstone Club in Big Sky, Montana. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them, BlackRock tweeted. That program ensures agriculture on the land is audited to meet standards, like soil health and water management, created by the nonprofit Leading Harvest, which counts one of the subsidiaries of Gates investment firm as a partner. My investment group chose to do this, Bill Gates said on Reddit in March when asked about his farmland purchases while promoting his latest book, How to Avoid A Climate Disaster. It is not connected to climate. He did acknowledge that more productive farming techniques can help reduce deforestation in other parts of the world. BlackRock, meanwhile, is also not the owner of the majority of single family houses in the country. And we think it will provide good inflation protection in the long run. Published: 18:36 ET, Dec 8 2022 Updated: 10:03 ET, Dec 9 2022 A MAP has revealed which billionaire owns the largest amount of land in the US - you'll be shocked to know that it isn't Bill Gates. 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. 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' Land Ownership. In Washington, the Gateses own more than 14,000 acres of farmland that includes potato fields so massive that they are visible from space and some of which are processed into french fries for McDonalds. Bill Gates had managed to purchase nearly 269,000 acres of land in more than 12 states in the US. 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. That is a big chunk of land. (Google Maps), Image: The building housing the offices of Cascade Investment in Kirkland, Wash., on May 22, 2021. Bill Gates may no longer be the worlds richest man, but he can claim a new title: Americas farmland king. But theyre far better known for their work in tech and in trying to save the climate. Lots of articles on this are full of "4D chess" speculations about climate change blah blah, but the real reason for this seems to be very simple: "just to collect rent." With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. As of 2020, industry reports show he owned about 0.027% of U.S. farmland. These billionaires have nothing to offer us in terms of saving the planet unless its our land back. BlackRock also does not own the majority of the countrys 80 million single-family homes. Can you imagine having that much property? He is an assistant professor in the American studies department at the University of New Mexico. He hoped Gates would have invested in different farming techniques that could help turn around the ecological damages from big agriculture. 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 Case for Bill Gates: Microsoft Corp co-founder is largely considered the biggest private owner of farmland in the U.S. with nearly 270,000 acres. 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. The extensive tax avoidance by these titans of industry will always far exceed their supposed charitable donations to the public. Purchased fromMadeleine Pickens, the former wife of Texas billionaire T. Boone Pickens, the property deal is one of the largest ever recorded in the area,The Wall Street Journalreported. While Gates is Americas biggest farmland owner, hes far from being the nations largest landowner in general. 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. The Gates family currently [] And not all the renters are local. 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. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. In terms of agriculture and his practices Bill Gates, Microsoft billionaire, may be more than . Michelle, has two of its largest vineyards in that AVA: Canoe Ridge Vineyard and Columbia Crest Vineyard. 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. 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. The agriculture sector is important, he wrote. In emails, BlackRock spokesman Christopher Beattie told The Associated Press that the firm. In addition, the land is audited to meet sustainability standards including soil health and water management. 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. 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.. Renewable energy company Savion has an option to buy the property for what . In 2014, he reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. Some of that land, including nearly 300 acres, was sold in 2019 to the California-based Grimmway Farms, the worlds largest carrot producer. Bill 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. According to landreport.com, the Gates family has a total of 242,000 in farmland acreage in the United States. Properties up for grabs include a $123million mansion with a trampoline room and a $43million oceanfront mansion with a ten-person jacuzzi. Its uncertain why Gates has invested in so much farmland or how his tracts are currently being used. The 13,573-square-foot home has six bedrooms, 11 bedrooms and more luxury features than you can count. 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.. Land can produce food, fuel, and manufacturing materials as well as provide environmental services, residential spaces, and more. BlackRock also suggested it was being confused for the similarly-named investment management firm Blackstone, which until recently owned Invitation Homes. 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. Much of Turner's land is used as grazing land for over 50,000 head of buffalo . (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. Nick Estes is a citizen of the Lower Brule Sioux Tribe. But, As of February 2021, Gates has made headlines across the wor. . He backed Impossible Foods, which relies on genetically modified soybeans, and also held shares of Beyond Meat through the Bill and Melinda Gates Foundation Trust, though SEC filings show those shares were sold in 2019. If you are unsure where to start, you can also check country tax sales. 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. Malone made the decision to put billions of his wealth into land ownership after spending a summer working on a family farm in Pennsylvania. These states include: Arizona - 25,750 acres; Arkansas - 47,927 acres 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. He added: 'In addition, the states oldest winery, Chateau Ste. 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. Weve never been one of the big institutional buyers of single family homes, BlackRock, single-family rentals nationwide. askBAMLand.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon. It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions.. 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. Gates achievement, according to the report, is that hes largest private owner of farmland in the US. Housecall is the official blog of RISMedia, covering real estate news and information for agents, brokers and their clients. It also offers proven return rates. A Grimmway Farms employee moves a water pipe at one of their carrot farms in the Antelope Valley near Lancaster, Calif., in 2004. In fact it is so big that it is a little hard to conceptualize. Farmland can be an investment in several ways. A 2018 purchase of 14,500 acres of prime eastern Washington farmland - which is traditional. He is the author of the book Our History Is the Future: Standing Rock Versus the Dakota Access Pipeline, and the Long Tradition of Indigenous Resistance (Verso, 2019), In a pandemic, billionaires are richer than ever. Reed family: Land area: 1.7 million acres. Land is power, land is wealth, and, more importantly, land is about race and class. Along the Columbia River border between Washington and Oregon, the Gateses purchased 100 Circles Farm, a 14,500-acre plot of land, for $171 million in 2018, according to property and business records. ', In 2008, The Bill & Melinda Gates Foundation announced $306 million in grants designed to boost the yields and incomes of millions of small farmers in Africa as well as 'other parts of the developing world so they can lift themselves and their families out of hunger and poverty.'.
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