This means that there is not much to maintain on it unless you want to add your own buildings or other property. In emails, BlackRock spokesman Christopher Beattie told The Associated Press that the firm. The 13,573-square-foot home has six bedrooms, 11 bedrooms and more luxury features than you can count. Land holds ample opportunities for growth and development, yet you may find that there is more land than there is competition. It can be sold as a property (or multiple properties), it can be used to produce things that people buy, or it can be rented out, like much of the farmland in the United States. When Quarterman first heard about Gates firm buying land in the area, he began digging through local property records, linking addresses and business records from registered owners to Kirkland-based companies, until he was able to piece together that the companies buying multiple tracts of land in the Suwannee River Basin were all a shell of a shell of a shell company investing for Bill Gates. NBC News independently confirmed that there were, in fact, shell companies tracing back to Gates firm that purchased 6,021 acres across four counties in Georgia. Thanks for contacting us. His 242,000 acres of farmland stretch across 18 states from Washington to Florida,. 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. The Gates Rancho Santa Fe estate was purchased in 2014 because of its horse stables and proximity to a local race horse track. 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. This can potentially earn you tons of money. A 2018 purchase of 14,500 acres of prime eastern Washington farmland which is traditional Yakama territory for $171m helped him get that title. 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." | Chuck Collins, Original reporting and incisive analysis, direct from the Guardian every morning, Land is power, land is wealth, and, more importantly, land is about race and class. In 2010 the Gates Foundation Trust invested about $23 million in Monsanto, the genetically modified seed and chemical company, though it sold its shares the next year following outcry from environmental groups. About 40 percent of farmland is owned by seniors 65 or older, according to 2014 estimates by the U.S. Department of Agriculture, meaning more farmland is expected to come on the market soon. *According to figures compiled by The Land Report in 2019. Bill Gates top private farmland owner in US. 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. Nor does he put in the back-breaking labor humble people do to grow our food and who get far less praise for it. The project is in its early . For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. 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). It also is a shareholder in the plant-based protein companies Beyond Meat and Impossible Foods as well as the farming equipment manufacturer John Deere. In 2014, he reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. Bill Gates is now the largest private landowner in the country. 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. There, on Gates parcels, an industrial farm grows potatoes for McDonalds french fries. 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. 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. 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. Public records suggest Cascade Investments has bought its farmland through a web of at least 22 limited liability shell companies across the country. 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. Gates and his investment team own more than 240,000 acres, as reported by O'Keefe, including 2,167 acres in Michigan. This could allow you to sell or lease the individual lots of land on the property. Bill Gates' $13.5 million investment in 2,100 sprawling acres of North Dakota land has raised questions as the purchase coincided with a controversial Chinese company buying 370 acres of. The company also took to Twitter to reject the false narrative. The worlds richest 1% emit double the carbon of the poorest 50%, an 2020 Oxfam study found. Bill Gates now owns the most farmland of anyone in the United States, according to a recent report from The Land Report . Bill Gates has secured legal approval for his North Dakota farmland purchase But the deal drew scrutiny under a 1932 anti-corporate farm ownership law Now state AG says the deal is legal, because . Malone made his fortune as a media tycoon, building the company Tele-Communications, Inc, or TCI, and acting as its CEO before selling it to AT&T for $50 billion in 1999. 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. 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. One of those farms, Stanley Farms, specialized in Vidalia onions, and another, Coggins Farms, focused on growing carrots. Bill Gates currently owns over 268,000 acres of American farmland spread out over 19 states. In fact, he owns some of the land that produces potatoes used to make McDondalds french fries. MINOT, N.D. North Dakotans like to pride themselves on being pro-property rights. One per cent of the worlds farms control 70% of the worlds farmlands, one report found. Through his subsidiary Mt. Bill Gates uses farmland as investment vehicle, owning 269,000 acres of land. The Associated Press reports that last week, billionaire Microsoft founder Bill Gates was cleared to purchase 2,100 acres of rural North Dakota farmland. 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. He now owns more farmland than my entire Native American nation. (AP Photo/Michael Probst, File ), Connect with the definitive source for global and local news. We are no longer accepting comments on this article. Gates portfolio comprises about 242,000 acres of farmland and nearly 27,000 acres of other land across 19 states, according to The Land Report, a magazine for land investors that tracks the nations biggest landowners. 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Beach House in Del Mar, California: $43 Million. The LandReport, a magazine that provides news and insight on America's landowners, recently estimated that Microsoft founder Bill Gates is the largest farmland owner in the U.S., owning about 242,000 acres. Financial titans like Prudential and Hancock have divisions specifically for investors looking to make money on farmland portfolios. He also owns three hotels in Dublin, Ireland, and a fourth in Limerick. 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 [] With the Washington state acreage and other additions to his portfolio, The Land Report estimates that Gates now owns at least 242,000 acres of American farmland. 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). The land we all live on should not be the sole property of a few. 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. CNN founder Ted Turner owns 2 million acres of land largely in New Mexico, South Dakota, Nebraska, and Georgia. 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. We think we now know. However, his largest land holdings are in Louisiana (69,071 acres), Arkansas (47,927 acres), Nebraska (20,588 acres . LITTLE ROCK, Ark. 5. While land is a limited resource, there is still less competition for raw land than there is with residential and commercial real estate. The agriculture sector is important, he wrote. When Bill Gates, or whatever other investment arm owns the land, a farmer still needs to farm it. You may have heard that Bill Gates owns a lot of land, but you may not know how much. 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. Dr. Alan Busacca, professor emeritus at Washington State University, told Land Report at the time that the fertile land in the area was used for growing 'apples, cherries, carrots, dryland and irrigated wheat, and row and field crops'. In 2009, the Gates' reportedly purchased a ranch in Wyoming that once belonged to Buffalo Bill Cody. Bill Gates may no longer be the world's richest man, but he can claim a new title: America's farmland king. The comments below have not been moderated, By
Bill Gates may no longer be the worlds richest man, but he can claim a new title: Americas farmland king. Social media users are falsely claiming that Gates owns the majority of U.S. farmland. 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. 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. The value depends on a lot of factors including location, type of land, acreage, supply, demand, and more. Raw land is not developed. The Microsoft co-founder faced several claims that he owned a majority of America's farmland earlier this year. In fact, Gates is the owner of over 270,000 acres of farmland, which is worth over $700 million! Through our professional experience in land acquisition, we have found that people buy and sell land for many different reasons and have learned that it can be an investment for profit, vacation, or any opportunity that suits your needs and desires. 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 . Listen to article. The extensive tax avoidance by these titans of industry will always far exceed their supposed charitable donations to the public. Not only that, but it fits in with Gates values as a philanthropist because he can keep the farmland healthy for future generations. That makes Invitation Homes the, largest operator of single-family rental homes in the country, but still represents, BlackRock also suggested it was being confused for the similarly-named i. nvestment management firm Blackstone, which until recently owned Invitation Homes. 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. Mansion in Rancho Santa Fe, California: $18 Million. Malone's 2.2 million acres are largely located in Maine, New Mexico, Colorado, and Wyoming and include profitable cattle ranches. 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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. One of the Gates' favorite vacation homes is in the Yellowstone Club in Big Sky, Montana. 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. That kind of hard work isnt what made him rich. Members of the Stanley family now work for Generations. Quarterman guessed that may be because Bill Gates isnt the one doing the farming. That's basically the motivation there. Weve never been one of the big institutional buyers of single family homes, BlackRock, single-family rentals nationwide. This means that you can find good deals that may be just the thing you are looking for. Land holds ample opportunities for growth and development, yet you may find that there is more land than there is competition. Except, it seems, when it comes to a private individual selling some land to iconic billionaire Bill Gates. Gates owns almost 9,000 acres in Ohio, just over 9,000 acres in Indiana, nearly 18,000 in Illinois, but only 552 acres in Iowa. 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. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. They accounted for almost 1% of the agricultural land in the United States. If you are unsure where to start, you can also check country tax sales. You may have heard that Bill Gates owns a lot of land, but you may not know how much. If youre looking at what this means for farmers on the ground looking to access land, theres significant competition from nonfarmers, and that really affects young farmers because it means that the price that theyre trying to compete with on the marketplace is driven and determined by people who are not dependent on a farming income, Rippon-Butler said. 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,.