BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. 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. Gates' achievement, according to the report, is that he's largest private owner of farmland in the US. Social media users are falsely claiming that Gates owns the majority of U.S. farmland. Beach House in Del Mar, California: $43 Million. The Microsoft co-founder and his former wife, Melinda, are the top farmland owners in. While land is a limited resource, there is still less competition for raw land than there is with residential and commercial real estate. And not all the renters are local. In total, Bill and Melinda Gates have acquired land in more than a dozen states. 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. In an interview with CNBC, Malone said that his biggest motivation for purchasing land was preservation and he said he hopes to buy more. In terms of agriculture and his practices Bill Gates, Microsoft billionaire, may be more than . 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. In addition, he owns 25,750 acres of transitional land and 1,234 acres of recreational land for total land holdings of 268,984 acres. Bill and Melinda Gates also cracked the Land Report's Top 100 Landowners for the first time coming in at number 49. The acquisitions are held directly, as well as through Gates' personal investment entity, Cascade Investments. We think we now know. He now owns more farmland than my entire Native American nation. 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. Kroenke is married to Ann Walkton Kroenke, an heiress to the Wal-Mart fortune. The potential is endless. But he didn't, Quarterman said. 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. 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. He said that this is where large tracts of rich farmland is used to raise livestock and grow many of the vegetables that end up in grocery aisles up and down the East Coast. 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. 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. 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. In addition, the land is audited to meet sustainability standards including soil health and water management. 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. 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 . 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 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,. Private Residence at the Yellowstone Club in Big Sky, Montana: Estimated $5-25 Million. His firms largest farmland acquisition happened in 2017, when it acquired 61 farming properties from a Canadian investment firm to the tune of $500m. As the population grows in large cities, some people will inevitably want to move to the country. 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. He also owns three hotels in Dublin, Ireland, and a fourth in Limerick. 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. Raw land is not developed. It will not tell you that Bill Gates is your neighbor. 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 . Our inventory spans mostly in the western United States. Brittany has been in the land business since 2020 when the world was starting to shut down. The Microsoft co-founder has reportedly purchased an $8.9 million Wyoming ranch that was once the stomping grounds of Buffalo Bill . They own the soil where the potatoes in McDonalds french fries grow, the carrots from the worlds largest producer and the onions that Americans saut every night for dinner. According to 2021 article from the Land Report, a magazine about land ownership, Gates owns approximately 242,000 . When fully developed the area could be home to 200,000 residents and be similar in size to the Phoenix suburb of Tempe, The Land Report said. The 14,000 acres in Washington is used for potatoes and in Florida the land is used for carrots. Mason notes that trying to draw hard lines between ones philanthropic work and ones investments does not work. Recently, an article in Land Report stated that Bill Gates owns more American farmland than anyone else. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. The six-bed Del Mar home, which boasts a ten-person jacuzzi and swimming pool overlooking the ocean, was bought by the couple in late Marchas the international coronavirus pandemic began to take hold. Bill Gates' Land Ownership. 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. Behind Gates in terms of investment in farmland are the cofounders of the Wonderful Company, Stewart and Lynda Resnick, with 190,000 acres. Gates and his wife own 269,000 acres of farmland. At this valuation, Gates likely paid close to $2 billion for the luxury-hotel business. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them,. Nick Estes is a citizen of the Lower Brule Sioux Tribe. 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.. 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). Additionally, through his personal investment firm, Cascade, Bill Gates owns approximately half of the Four Season Holdings' hotel chain. 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. His 242,000 acres of farmland stretch across 18 states from Washington to Florida,. That could spell an opportunity for young farmers hoping to get their start, but for savvy investors scrambling for more places to put their money, it also represents an opportunity. 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. Seems like there could be a lot to benefit more of their charities by selling some of this off. 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. While the Gateses are best known for their philanthropic work tackling large-scale societal problems, like funding the coronavirus vaccine and controlling malaria via the Bill and Melinda Gates Foundation, they have also invested in some companies rethinking food production and have endorsed the use of genetically modified seeds as one way to increase farming productivity and feed more people globally. 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. While most people do not have the ability to buy hundreds of thousands of acres of farmland like Bill Gates, anybody can look at land as an investment opportunity to take advantage of. Its uncertain why Gates has invested in so much farmland or how his tracts are currently being used. The acquisition, however . Weve answered hundreds of questions from people regarding the buying and use of land. They add it will take those with large parcels of land, like the Gateses U.S. farmland holdings, to do it. The 229-acre property was once home to Jenny Craig, founder of the Jenny Craig nutrition company, and was purchased by the Gates with hopes that it would one day be where their daughter Jennifer could train for her equestrian career. *According to figures compiled by The Land Report in 2019. Bill Gates investment company, Cascade Investments, has invested in hundreds of thousands of acres of farmland in the last 10 years. 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 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. It also offers proven return rates. 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. Bill Gates uses farmland as investment vehicle, owning 269,000 acres of land. 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. 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. Now Bill Gates appears to have acquired a slice of their tiny city, and locals near. These land holdings are separate from their previous investments in companies that support large-scale farming like Monsanto and the tractor manufacturer John Deere. . After all, few can out-bid Bill Gates. Bill Gates is in the money flow business, and farmland, as well as other land, can generate a lot of money. ', 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.'. The map shows a 242,000 acre square situated over New York. Gates' purchase averaged $12,000 per acre. from February that showed there were more than 895 million total acres of farmland in the country last year. The couple also snapped up an oceanfront home in San Diego County, California, last year, for a record making $43 million. Bill Gates: America's Top Farmland Owner | The Land Report. BlackRock, meanwhile, is also not the owner of the majority of single family houses in the country. Malone's 2.2 million acres are largely located in Maine, New Mexico, Colorado, and Wyoming and include profitable cattle ranches. In enrolling in Leading Harvest, Cascade has implemented new initiatives on its farmland holdings ranging from adding additional pollinator habitat in Nebraska to planting wildlife-friendly trees on dry pivot corners in Florida to hosting grain bin safety rescue training for the local community in Louisiana to converting numerous diesel power units to electric to reduce carbon output, to name a few, Zheren said. There, on Gates parcels, an industrial farm grows potatoes for McDonalds french fries. If you said investment, then you are right. 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. Through Sierra Pacific, the family owns some 2 million acres in California and Washington. In emails, BlackRock spokesman Christopher Beattie told The Associated Press that the firm primarily invests in retail, office buildings, hotels and apartment complexes, rather than single-family homes, but he declined to provide a breakdown. You may have heard that Bill Gates owns a lot of land, but you may not know how much. This way, the land will remain productive and healthy, while also becoming a money-driving investment. NBC News also found that another 6,500 acres in north Florida are owned by yet another company, Suwannee River Terra, which was also started with an address in Kirkland and an email address from the Bill and Melinda Gates Investment Firm, which is now registered to the current chief counsel of Oak River Farms with a mailing address in Kansas, according to property records. 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. TRENDING: OUCH! Land can produce food, fuel, and manufacturing materials as well as provide environmental services, residential spaces, and more. 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. Why should striking rail and postal workers get a big pay rise while our pay packets remain stagnant or worse? And in Florida, farmers grow carrots on their property. Today, Bill Gates owns 242,000 acres of farmland in 19 states. 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. He is an assistant professor in the American studies department at the University of New Mexico. Malone made the decision to put billions of his wealth into land ownership after spending a summer working on a family farm in Pennsylvania. A Grimmway Farms employee moves a water pipe at one of their carrot farms in the Antelope Valley near Lancaster, Calif., in 2004. BlackRock also does not own the majority of the countrys 80 million single-family homes. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. The Emmerson family owns and operates Sierra Pacific Industries, a company that logs usable lumber after forest fires and sells it to lumber retailers. His land ownership spans across 19 states. The firm is a shareholder in Dallas-based Invitation Homes, which owns nearly 80,000 single-family rentals nationwide. He never did anything that different from before he got here and what other farmers were doing nearby.". The project is in its early . 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. 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. But theyre far better known for their work in tech and in trying to save the climate. Bill Gates has never been a farmer. 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. 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. For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. Can You Build A Wedding Venue On Residential Land? Bill and Melinda have diversified their portfolioworth more than $130 billionfor years, and one of their favorite investments is real estate. 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. Not only that, but it fits in with Gates values as a philanthropist because he can keep the farmland healthy for future generations. Since 2017 he reportedly holds a significant stake in 24,800 acres of land on the west side of Phoenix. Bill Gates' 20,000 acres in Nebraska help make him the top farmland owner in the U.S. Christopher Burbach Jan 24, 2021 Updated May 17, 2022 0 1 of 10 This cropland west of Malmo, Nebraska, is. 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. We've received your submission. 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. Xanadu 2.0 in Medina, Washington: Estimated $140-170 Million, Source: Steve Ringman / The Seattle Times. Starting in 2012, Gates investment firm began buying family farms in South Georgia. 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. 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.. 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. Almost 300,000 acres is a lot of land for one family or private individual to own, but it's still just a. Adjusted for inflation, average farm real estate values have generally risen since 1993, growing from less than $1,500 an acre in the mid-90s to over $3,000 an acre in 2020, according to the USDA. A 6,300-acre farm owned by Bill Gates in Madison County could become the site of one of the nation's largest solar farms. 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.'. 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. There . The average person has nothing in common with mega-landowners like Bill Gates or Ted Turner. The principal danger of private farmland owners like Bill Gates is not their professed support of sustainable agriculture often found in philanthropic work its the monopolistic role they play in determining our food systems and land use patterns. 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. 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. Financial titans like Prudential and Hancock have divisions specifically for investors looking to make money on farmland portfolios. That was a virus I got from Ted Turner.. 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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. Except, it seems, when it comes to a private individual selling some land to iconic billionaire Bill Gates. That's basically the motivation there. Renewable energy company Savion has an option to buy the property for what . 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. AP'S ASSESSMENT: False. Apparently Bill Gates now owns almost 242,000 acres of land in the United States. The billionaire media mogul Ted Turner epitomizes such disparities. Bill Gates now owns almost 242,000 acres of the continguous USA. 5. Cascade did not immediately respond to a phone message Friday, and the company declined to comment to The Land Report other than to say that Cascade is very supportive of sustainable farming, the outlet said. APS ASSESSMENT: False. Learn more about fact-checking at AP. In fact, he owns some of the land that produces potatoes used to make McDondalds french fries. The billionaire Microsoft co-founder has become the largest owner of farmland in the. America's leading landowners added hundreds of thousands of acres to their holdings last year. You may also be interested in why a billionaire wants land. Land will likely never be a bad investment, as long as the land is healthy and properly located. False. The title for largest landholdings overall goes to US businessman John Malone, chairman of Liberty Media, who owns 2.2million acres. 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. Small farmers and Indigenous people are more cautious with the use of land. Public records suggest Cascade Investments has bought its farmland through a web of at least 22 limited liability shell companies across the country. This can be an affordable way to get started with your raw land investments. While private companies and corporations are increasing . But that could soon change. If they purchased the rest of their farmland for similar prices, that would put the value of their 242,000 acres at almost $3 billion. Bill Gates currently owns over 268,000 acres of American farmland spread out over 19 states. 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. What expertise in climate science or agriculture Gates possesses beyond being filthy rich is anyones guess. 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. These billionaires have nothing to offer us in terms of saving the planet unless its our land back. The land that Bill Gates owns is used to grow soybeans, corn, cotton, and rice over 70,000 acres in northern Louisiana. He owns 242,000 acres, which is equivalent to the area of Fannin County GA. The land that Gates owns is located in several states and consists primarily of commercial farmland. The comments below have not been moderated, By 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..
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