For now, Gatess ever-expanding farmland ownership is really just rich guy doing rich guy things, and while concerning in a late-stage capitalism sort of way, it isnt as cartoonishly nefarious as some conspiratorial corners of the internet want to believe. Through Sierra Pacific, the family owns some 2 million acres in California and Washington. 5. Oscar Cainer tells all. 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. North Dakota Farmland Purchase. The Microsoft cofounder and philanthropist Bill Gates owns 242,000 acres of farmland in the US, making him the largest private-farmland owner, an analysis by The Land Report found in January. There were 895.3 million acres of farmland in America in 2021, according to a 2022 reportfrom the Department of Agriculture. In a new report, GRAIN analyses all the food and agriculture grants the foundation has made up until 2020, and reveals that while the Foundation allegedly prioritises African farmers, the vast majority of its funding actually goes to groups in North America and Europe. His portfolio is diversified, in other words. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. Gates, the billionaire tech mogul and philanthropist whose net worth was pegged by Bloomberg at $113 billion, has quietly amassed nearly 270,000 acres of farmland across the country, according to the Associated Press. Hearst Magazine Media, Inc. All Rights Reserved. While the Gates' own a lot of farmland, nonfarmers own 283 million acres of farmland throughout the U.S. Cost and bad infrastructure have long prevented farmers from fertilising their fields, so many African countries have been losing nutrients from their soils (see map above). We may earn commission if you buy from a link. In 1994 Bill and Melinda Gates are said to have hired Michael Larson to help them diversify their property portfolio. Kroenke is married to Ann Walkton Kroenke, an heiress to the Wal-Mart fortune. He added: 'In addition, the states oldest winery, Chateau Ste. In his Reddit AMA last year, one user said, "What do you plan to do with all the farmland you have purchased? For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. The new green economy will mean new opportunities for land owners, OKeefe believes. You cant just say, Ive got $30,000 saved up and I want to buy some farmland, Sherrick notes. To effectively address climate change, we need to develop an energy infrastructure that doesnt emit greenhouse gas and is cost competitive. Sales of more than a thousand acres are blue-moon events, OKeefe noted, so this one stood out. Real estate mogul and owner of the Los Angeles Rams, Stan Kroenke, owns 1.4 million acres of land in the United States, including a 124,000 acre ranch in Montana and additional land in Wyoming. of the richest people in the country, owns less than one percent of the nations total farmland. Gates has been asked about his farmland purchases before. Bill Gates is best-known for cofounding Microsoft, but he's also a major US landowner, having bought 275,000 acres of farmland. And thats where the land purchases come in. , said his investment group was behind the purchases, and suggested it was linked to seed and biofuel development. The region west of Phoenix is booming. 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. Rising temperatures could also shrink by up to 80 per cent the areas where beans will grow. Meanwhile, American agriculture today is being transformed as farmers employ new technologies and Big Data to help them manage their crops. The comments below have not been moderated. by Harvard Universitys Joint Center for Housing Studies. The 65-year-old responded by declaring his . "Why are you buying up so much farmland, do you think this is a problem with billionaire wealth and how much you can disproportionally acquire?" Mr. In a 2020 blog post, he wrote, "The rich should pay more than they currently do, and that includes Melinda and me.". So far, only eight of 54 countries have done so.. Bill Gates helped usher in the digital revolution at Microsoft, and has spent the decades since exploring - and investing in - innovative solutions to some of the world's toughest problems . His magazine, The Land Report, tracks major land transactions and produces an annual list of the 100 biggest US landowners. Gates reportedly paid nearly $1,041,293 in property taxes in 2017, for this property. The Foundation has nearly 40 million shares of Berkshire Hathaway which has a market value of over $7 billion. But, Gates may not be the largest private-farmland owner for much longer. 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. In 2008 it launched a programme called Purchase for Progress (P4P) that targets smallholder suppliers, including those in 15 African countries. BlackRock also does not own the majority of the countrys 80 million single-family homes. People involved in the Gates financial empire stress that the familys philanthropic endeavors are kept separate from their investments and business ventures. Jumbuck Pastoral Company: 5.75 million hectares. Gates . The largest parcel, a proposed 24,800-acre development known as Belmont, might someday contain 80,000 homes, along with offices, retail, industrial and logistics facilities. They bought and later sold an additional 6,000 acres in Georgia, NBC News found. Total acreage for Bill Gates: Well over 270,000 acres. According to 2021 article from the Land Report, a magazine about land ownership, Gates owns approximately 242,000 . The Emmerson family owns and operates Sierra Pacific Industries, a company that logs usable lumber after forest fires and sells it to lumber retailers. ', Last year the couple bought an oceanfront home in Del Mar, near San Diego, California, for $43million, The six-bedroom Del Mar home boasts a ten-person jacuzzi and a swimming pool overlooking the ocean, Gates, pictured last June during a concert for COVID-19 relief, purchased the San Diego property just as the pandemic took hold in March, In 2017, Gates reportedly bought a significant stake in 24,800 acres of land outside Phoenix, Arizona, which he planned to turn into a 'smart city' with 200,000 residents. Gates' interest in farmland is still strong. In fact, he reportedly owns more farmland than any other individual in America. His environmental bent also extends to farming. New Scientist went to press before the meeting finished. I have invested in these farms to make them more productive and create more jobs. We've received your submission. Larson sees to it that Gates wealth is sensibly, even conservatively, invested. Three-quarters of them live in South Asia and sub-Saharan Africa. ; That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for . AGRAs methods are one way to do so. By clicking Sign up, you agree to receive marketing emails from Insider For now, though, all that smart city talk is more than a little premature. It has become a marquee brand in one of the hottest sectors of the food business. ", Gates responded at the time, "My investment team bought the farmland. "In terms of the very rich I think they should pay a lot more in taxes and they should give away their wealth over time. And Eastern Washington has some of the richest, most expensive farmland in the country. Since it works as an investment for him, it also includes the benefits of using land as an . Stay up to date with what you want to know. Gates responded: "I own less than 1/4000 of the farmland in the US. The group is called Leading Harvest, and the Gates-linked Cottonwood Ag is one of its founding members. Banda attributes her success to the fertiliser and nitrogen-fixing bacteria she has been applying, which have put extra pep into her crops and enriched the soil. Making farming a business is the way to push African agriculture, says Robert Guei of the FAO in Rome, Italy. The threat of climate change means smallholders must keep adapting if they are to survive and prosper, says Guei. En cliquant sur Refuser tout, vous refusez tous les cookies non essentiels et technologies similaires, mais Yahoo continuera utiliser les cookies essentiels et des technologies similaires. The company is the largest producer of wool in Australia. Posted by Triple Net Matt July 4, 2022 Posted in commercial real estate Tags: bill gates, commercial broker, commercial real estate, net lease, nnn, STNL. 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. buying an increasing share of the U.S. housing market. P4P aims to link the smallholder farmers explicitly into the process. They supplement that with any animal manure they have, and compost made from the remains of their previous crops. What does a technology pioneer want with agriculture? 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. Last year, Gates vowed to give away "virtually all" of his fortune to the philanthropic foundation he runs with French Gates. Bill Gates' Mega House - $154 Million. It isless than .1% of all US farmland because the ownership is so diverse. The booming population of Africa looms over his foundation's latest global survey. The company also took to Twitter to reject the false narrative. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. A primary proponent of this view is the Cornell Alliance for Science (CAS), founded in 2014 to "depolarize the charged debate" around genetically modified (GM) seeds. The area off Interstate 10, called Belmont, has space for 80,000 homes as well as more than 4,000 acres for schools, offices, and stores; and 3,400 acres of open space. Bill Gates and conspiracy theories go together like peanut butter and jelly. Learn more about fact-checking at AP. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. In emails, BlackRock spokesman Christopher Beattie told The Associated Press that the firm. BlackRock also suggested it was being confused for the similarly-named investment management firm Blackstone, which until recently owned Invitation Homes. Gates owns over 242,000 . Bill and Melinda Gates, pictured at The Elysee Palace in 2017 where they received the award of Commander of the Legion of Honor, are now the biggest owners of farmland in the US, a new report revealed, The tech billionaire has quietly bought up 242,000 acres of farmland in 18 states - and 268,984 of multi-use land in 19 states in total, making him the biggest agricultural landowner in the US, though far short of the biggest overall landowner in the country, In 2018, a 'Louisiana investor', later revealed to be Gates, paid $171 million for a large swath of farmland in the Horse Heaven Hill, making it one of the largest real estate transactions in recent memory, In 2014, Gates reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. Now, its latest report says the scheme is achieving its aims. More surprising, however, was the fact that Bill and Melinda Gates own more private farmland . Working closely with the World Health . 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 McDonald's. And in Florida, farmers grow carrots on their property. One other use for the farmland Gates has acquired is to grow crops for biofuels. Some experts have pointed to Gatess well-known sustainability and green tech initiatives as a possible reason, but during an earlier Reddit AMA in 2021, Gates said, my investment group chose to do this. Founding members richest, most expensive farmland in America in 2021, according to 2021 article from land. Mean new opportunities for land owners, OKeefe noted, so this one stood out 1994... The Gates & # x27 ; Mega House - $ 154 million that doesnt emit greenhouse gas and is competitive! 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