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. Thanks for contacting us. While he owns a significant amount, it is a relatively small slice of the nations nearly 900 million total farm acres. 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 media mogul Ted Turner epitomizes such disparities. . We loved familys outdoor adventures so much we started a land business just to help others buy their own land. of the richest people in the country, owns less than one percent of the nations total farmland. The private residential area is home to numerous A-list celebrity couples including Justin Timberlake and Jessica Biel. He hoped Gates would have invested in different farming techniques that could help turn around the ecological damages from big agriculture. 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. It also offers proven return rates. The price makes this one of the most expensive home sales in this part of California ever. Since 2017 he reportedly holds a significant stake in 24,800 acres of land on the west side of Phoenix. That kind of hard work isnt what made him rich. . 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. It will not tell you that Bill Gates is your neighbor. 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. Bill Gates may no longer be the world's richest man, but he can claim a new title: America's farmland king. Farmland can be an investment in several ways. 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. Right? As of 2020, industry reports show he owned about 0.027% of U.S. farmland. Listen to article. In this country, enslaved Black labor first built US wealth atop stolen Native land. If you are unsure where to start, you can also check country tax sales. 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. 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. Lets take a look at some of the reasons that land, particularly raw land, can be a good investment for Bill Gates or anybody else, including you. Social media users are falsely claiming that Gates owns the majority of U.S. farmland. That is a big chunk of land. 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 option expires Oct. 31, 2024. Agriculture is also a key focus area for the Bill & Melinda Gates Foundation, the massive charity run by Gates and his wife. In every state where the Gateses own land, a tangled web of locally registered limited liability companies follow. CNN founder Ted Turner owns 2 million acres of land largely in New Mexico, South Dakota, Nebraska, and Georgia. Kroenke is married to Ann Walkton Kroenke, an heiress to the Wal-Mart fortune. 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. In fact, he reportedly owns more farmland than any other individual in America. Gates achievement, according to the report, is that hes largest private owner of farmland in the US. But why do a handful of people own so much land? We know that one of the best ways to sequester carbon is through the soil. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. Microsoft co-founder Bill Gates finally revealed the reasons behind his massive purchase of farmland: seed science and biofuel development. 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. 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 1862 Homestead Act opened up 270m acres of Indigenous territory which amounts to 10% of US land for white settlement. The project is in its early . 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. The land that Bill Gates owns is used to grow soybeans, corn, cotton, and rice over 70,000 acres in northern Louisiana. 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 14,000 acres in Washington is used for potatoes and in Florida the land is used for carrots. AP'S ASSESSMENT: False. One per cent of the worlds farms control 70% of the worlds farmlands, one report found. The foundation aims to support country-led inclusive agricultural transformation across sub-Saharan Africa and South Asia, according to its website. 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. In total, Gates owns approximately 242,000 acres of farmland with assets totaling more than $690m. 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. 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. 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. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them, BlackRock tweeted. The 13,573-square-foot home has six bedrooms, 11 bedrooms and more luxury features than you can count. 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. Malone's 2.2 million acres are largely located in Maine, New Mexico, Colorado, and Wyoming and include profitable cattle ranches. 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. A Grimmway Farms employee moves a water pipe at one of their carrot farms in the Antelope Valley near Lancaster, Calif., in 2004. Bill and Melinda Gates also cracked the Land Report's Top 100 Landowners for the first time coming in at number 49. 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. , updated It was the highest priced land sale in the US that year. Bill Gates does not own the majority of U.S. farmland. So why did the Land Report, Our History Is the Future: Standing Rock Versus the Dakota Access Pipeline, and the Long Tradition of Indigenous Resistance. 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. Much of Turner's land is used as grazing land for over 50,000 head of buffalo the largest private herd of bison in the world. The sale was notable because it added to Gates' farmland holdings which includes large tracts of land in Illinois, Iowa, Louisiana, California, and about a dozen other states. Almost 300,000 acres is a lot of land for one family or private individual to own, but it's still just a. The Gates family currently [] 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. He also reportedly owns about 16,000 acres in his home state of Washington, including a 14,500-acre tract in the Horse Heaven Hills region that was purchased for nearly $171 million. BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. After all, few can out-bid Bill Gates. It may even be easier to sell smaller lots than it would be to market the entire portion of land that you invest in. Which is where the Bill Gates' Land Ownership interactive map comes in. Members of the Stanley family now work for Generations. 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. Beach House in Del Mar, California: $43 Million. He also owns three hotels in Dublin, Ireland, and a fourth in Limerick. Gates diversified his investment portfolio through land ownership, but why? Land holds ample opportunities for growth and development, yet you may find that there is more land than there is competition. He owns 2m acres and has the worlds largest privately owned buffalo herd. The opportunities are virtually endless. Last year, Bill and Melinda purchased a sprawling beachfront 6-bedroom, 4-bath home in Del Mar, Californiaoutside of San Diegofor $43 million. According to 2021 article from the Land Report, a magazine about land ownership, Gates owns approximately 242,000 . But those working on projects with both investors and farmers to create ecologically sustainable farming methods and support diverse and disadvantaged farming communities say rethinking agriculture and working to avert a climate crisis go hand in hand. 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). Small farmers and Indigenous people are more cautious with the use of land. Mansion in Rancho Santa Fe, California: $18 Million. The acquisitions are held directly, as well as through Gates' personal investment entity, Cascade Investments. But billionaire class assertions that they are philosopher kings and climate-conscious investors who know better than the original caretakers are little more than ruses for what amounts to a 21st century land grab with big payouts in a for-profit economy seeking green solutions. 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., ill Gates has never been a farmer. In terms of agriculture and his practices Bill Gates, Microsoft billionaire, may be more than . 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. 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.

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