Gates and his investment team own more than 240,000 acres, as reported by Eric O'Keefe, including 2,167 acres in Michigan. The agriculture sector is important, he wrote. 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. BlackRock also suggested it was being confused for the similarly-named investment management firm Blackstone, which until recently owned Invitation Homes. 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. Bill and Melinda Gates, who recently announced they're getting divorced and are dividing their assets, are deeply invested in American agriculture. 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. 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. Some of that land, including nearly 300 acres, was sold in 2019 to the California-based Grimmway Farms, the worlds largest carrot producer. A white man owns more farmland than my entire Native nation! 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. 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 you said investment, then you are right. In 2014, Cascade Investments combined both of those companies and the land into Generations Farms, which continued to grow vegetables. buying an increasing share of the U.S. housing market. 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. 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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. Mason notes that trying to draw hard lines between ones philanthropic work and ones investments does not work. Bill Gates owns more land than all of the entire city of New Why Bill Gates Is Buying Up U.S. The largest. 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. This can potentially earn you tons of money. 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. The Microsoft co-founder faced several claims that he owned a majority of America's farmland earlier this year. Estate in Indian Wells, California: $12.5 Million. More surprising, however, was the fact that Bill and Melinda Gates own more private farmland . Gates shares 95% of the ownership with Saudi Prince Alwaleed bin Talal. America's leading landowners added hundreds of thousands of acres to their holdings last year. Since it works as an investment for him, it also includes the benefits of using land as an investment like he does. Buffalo Bill Cody's Ranch in Cody, Wyoming: Undisclosed Sale Price (Listed for $8.9 Million). Malone made the decision to put billions of his wealth into land ownership after spending a summer working on a family farm in Pennsylvania. Gates-affiliated ownership covers vast swaths of farm and timberland, estimated to be 69,071 acres in all by niche land ownership publication The Land Repor t. Across the nation, Gates'. 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. The private residential area is home to numerous A-list celebrity couples including Justin Timberlake and Jessica Biel. So why did the Land Report dub him Farmer Bill this year? 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 tech mogul, who is the. In total, Bill and Melinda Gates have acquired land in more than a dozen states. 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. Nick Estes is a citizen of the Lower Brule Sioux Tribe. And while Bill Gates frets about eating cheeseburgers in his book for the amount of greenhouse gases the meat industry produces largely for the consumption of rich countries his massive carbon footprint has little to do with his personal diet and is not forgivable by simply buying more land to sequester more carbon. Bill and Melinda have purchased numerous properties in Wellington, Florida, over the years. The Gates Rancho Santa Fe estate was purchased in 2014 because of its horse stables and proximity to a local race horse track. Bill Gates has never been a farmer. 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 14,000 acres in Washington is used for potatoes and in Florida the land is used for carrots. There are also growing trends revolving around the purchase of low acreage farmland and noncommercial farming. TRENDING: OUCH! We've received your submission. Theres a more cynical calculation. 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. One per cent of the worlds farms control 70% of the worlds farmlands, one report found. In other words, when the economy is struggling, the value of farmland generally doesnt depreciate. Gates diversified his investment portfolio through land ownership, but why? While he owns nearly half of the Four Season Holding's hotel chain through Cascade, he also has partial ownership of Charles Hotel in Cambridge, Massachusetts. In 2009, the Gates' reportedly purchased a ranch in Wyoming that once belonged to Buffalo Bill Cody. The company also took to Twitter to reject the false narrative. Small farmers and Indigenous people are more cautious with the use of land. Bill Gates was also an early investor in fake-meat companies aiming to combat the environmental harms of raising livestock by creating more convincing, plant-based alternatives. The January 11 issue of The Land Report is worth reading. This site also participates in other affiliate programs including but not limited to ShareASale, CJ, and ClickBank, and is compensated for referring traffic and business to these companies. You may also be interested in why a billionaire wants land. CNN founder Ted Turner owns 2 million acres of land largely in New Mexico, South Dakota, Nebraska, and Georgia. One of the Gates' favorite vacation homes is in the Yellowstone Club in Big Sky, Montana. For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. 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. 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. 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. 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. 4. Investors bought a record 18.4% of the homes purchased in the fourth quarter of 2021 three-quarters of which were single-family homes. The average person has nothing in common with mega-landowners like Bill Gates or Ted Turner. LITTLE ROCK, Ark. 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. Farmland can be an investment in several ways. In Nebraska where he owns 20,000 acres, it is used for soybeans. 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. 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). In six years that number has more than doubled. Starting in 2012, Gates investment firm began buying family farms in South Georgia. That means Gates, whose net worth is estimated at some $134 billion. 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. Much of Turner's land is used as grazing land for over 50,000 head of buffalo . Right? That doesnt mean that every piece of land is a good investment, but a significant amount of land will offer a high return on investment. There, on Gates parcels, an industrial farm grows potatoes for McDonalds french fries. Listen to article. 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.. 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. 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. 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. In fact, he reportedly owns more farmland than any other individual in America. But he didn't, Quarterman said. 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. The project is in its early . 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. He is an assistant professor in the American studies department at the University of New Mexico. Private Residence at the Yellowstone Club in Big Sky, Montana: Estimated $5-25 Million. This is where a country sells land when the owner becomes delinquent on their property taxes. 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. Housecall is the official blog of RISMedia, covering real estate news and information for agents, brokers and their clients. The trend worries young farmers who cannot compete with the likes of Bill Gates when buying land, according to Holly Rippon-Butler, a farmer in upstate New York and the land campaigns director at the National Young Farmers Coalition. "The agriculture sector is important. This can be an affordable way to get started with your raw land investments. MINOT, N.D. North Dakotans like to pride themselves on being pro-property rights. 07:04 GMT 16 Jan 2021. Members of the Stanley family now work for Generations. That's basically the motivation there. Bill Gates: America's Top Farmland Owner | The Land Report. 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. It is possible to make high double digit returns on land that you bought for an affordable price only a few years prior. According to landreport.com, the Gates family has a total of 242,000 in farmland acreage in the United States. 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 a U.S. Department of Agriculture report from February that showed there were more than 895 million total acres of farmland in the country last year. 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. And not all the renters are local. Here is the . Someone else is owning that asset, whether it's rented equipment or land. 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. 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. This map shows that area as a rectangle that can be dragged. 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. What Is The Banking Process To Buy Raw Land, Price Of Agricultural Land In The Philippines. 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. 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. In Nebraska where he owns 20,000 acres, it is used for soybeans. Agriculture is also a key focus area for the Bill & Melinda Gates Foundation, the massive charity run by Gates and his wife. The billionaire Microsoft co-founder has become the largest owner of farmland in the. 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. Of those rentals, less than a third are owned by non-individual investors, according to a 2022 report by Harvard Universitys Joint Center for Housing Studies. He never did anything that different from before he got here and what other farmers were doing nearby.". (Stephen Osman / Los Angeles Times via AP file), The buildings of the 100 Circles Farm are at the center of this satellite image. Bill Gates may no longer be the worlds richest man, but he can claim a new title: Americas farmland king. Investment firms are making the argument farmlands will meet carbon-neutral targets for sustainable investment portfolios while anticipating an increase of agricultural productivity and revenue. Behind Gates in terms of investment in farmland are the cofounders of the Wonderful Company, Stewart and Lynda Resnick, with 190,000 acres. 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. Although the price that the Gates paid for this property was never made public, theres a $300,000 initiation fee, and more than $37,000 in annual feesand you still have to purchase a home within the community. 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. According to 2021 article from the Land Report, a magazine about land ownership, Gates owns approximately 242,000 . Several Properties in Wellington, Florida: $27.2 Million (Total). | Photo by Wikimedia Commons . Bill and Melinda Gates, who recently announced theyre getting divorced and are dividing their assets, are deeply invested in American agriculture. 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. Microsoft co-founder Bill Gates finally revealed the reasons behind his massive purchase of farmland: seed science and biofuel development. So what is this guy planning? 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. That is a big chunk of land. You may also be interested in why a billionaire wants land.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'askbamland_com-medrectangle-3','ezslot_2',102,'0','0'])};__ez_fad_position('div-gpt-ad-askbamland_com-medrectangle-3-0'); Bill Gates is one of the largest farmland owners in the United States. Gates' achievement, according to the report, is that he's largest private owner of farmland in the US. It makes no sense.. Farmland can be an investment in several ways. Kroenke is married to Ann Walkton Kroenke, an heiress to the Wal-Mart fortune. Gates and his investment team own more than 240,000 acres, as reported by O'Keefe, including 2,167 acres in Michigan. He also owns three hotels in Dublin, Ireland, and a fourth in Limerick. While private companies and corporations are increasing . 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. 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. 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. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'askbamland_com-box-4','ezslot_4',104,'0','0'])};__ez_fad_position('div-gpt-ad-askbamland_com-box-4-0'); Well, why would you think that a billionaire would want to own land? There . 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. One of the Gates favorite vacation homes is in the Yellowstone Club in Big Sky, Montana. Since 2017 he reportedly holds a significant stake in 24,800 acres of land on the west side of Phoenix. 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 [] You can also fill out the contact form below if you are interested in buying or selling land. 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. In fact it is so big that it is a little hard to conceptualize. 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 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. 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. Seems like there could be a lot to benefit more of their charities by selling some of this off. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. 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, Gates owns approximately 242,000 acres of farmland with assets totaling more than $690m. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. 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. Bill Gates currently owns over 268,000 acres of American farmland spread out over 19 states. 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. This could allow you to sell or lease the individual lots of land on the property. His 242,000 acres of farmland stretch across 18 states from Washington to Florida,. A few years ago, Bill Gates has announced plans to build a smart city outside of Buckeye in Arizona. The price makes this one of the most expensive home sales in this part of California ever. 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 . Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them, BlackRock tweeted. Through his subsidiary Mt. Recently, an article in Land Report stated that Bill Gates owns more American farmland than anyone else. But they're just renting it. 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. That land is now largely rented out to various farmers. It can be used for residential development, commercial projects, industrial zoning, public or semi-public use, agriculture, or right of way (a way for others to access a different piece of land or portion of the land). It also allows you to keep a portion of the land for personal use so you do not have to give up your weekend home or relaxation property. Weve never been one of the big institutional buyers of single family homes, BlackRock, single-family rentals nationwide. 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. (Google Maps), Image: The building housing the offices of Cascade Investment in Kirkland, Wash., on May 22, 2021. They add it will take those with large parcels of land, like the Gateses U.S. farmland holdings, to do it. Bill Gates' Land Ownership. ', 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 potential is endless. 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. Bill Gates top private farmland owner in US. His land ownership spans across 19 states. In 2014, he reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. Weve been trained by experience, land acquisition courses, and hundreds of hours meeting with county assessors and clerks, zoning officials, realtors, and land investors. Quarterman guessed that may be because Bill Gates isnt the one doing the farming. Properties up for grabs include a $123million mansion with a trampoline room and a $43million oceanfront mansion with a ten-person jacuzzi. 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. He owns 2m acres and has the worlds largest privately owned buffalo herd. Thanks for contacting us. The Associated Press reports that last week, billionaire Microsoft founder Bill Gates was cleared to purchase 2,100 acres of rural North Dakota farmland. Like other investment opportunities, you can find land for sale online. 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. This means that you can find good deals that may be just the thing you are looking for. Farmers just aren't owning the assets anymore. You may have heard that Bill Gates owns a lot of land, but you may not know how much. He owns 242,000 acres, which is equivalent to the area of Fannin County GA. You may have heard that Bill Gates owns a lot of land, but you may not know how much. 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. Gates' purchase averaged $12,000 per acre. 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. In fact, Gates is the owner of over 270,000 acres of farmland, which is worth over $700 million! Not only that, but it fits in with Gates values as a philanthropist because he can keep the farmland healthy for future generations. And Bill Gates new book How to Avoid a Climate Disaster positions himself as a thought leader in how to stop putting greenhouse gases into the atmosphere and how to fund what he has called elsewhere a global green revolution to help poor farmers mitigate climate change. 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. False. The Gates Foundation said in a statement that its agriculture efforts do not extend to farming in the U.S. 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.

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