Land holds ample opportunities for growth and development, yet you may find that there is more land than there is competition. The Microsoft co-founder and his former wife, Melinda, are the top farmland owners in. Since 2017 he reportedly holds a significant stake in 24,800 acres of land on the west side of Phoenix. Here is the . 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. 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 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. Nick Estes is a citizen of the Lower Brule Sioux Tribe. Malone owns several ranching and real estate businesses predominantly in Maine, New Mexico, Colorado and Wyoming. 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. But theyre far better known for their work in tech and in trying to save the climate. Malone made the decision to put billions of his wealth into land ownership after spending a summer working on a family farm in Pennsylvania. There . 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.. The Microsoft co-founder faced several claims that he owned a majority of Americas farmland earlier this year. 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. 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. In total he owns 268,984 acres of land of all types in 19 states, including a suburb up for development - as a so-called 'smart city' - outside Phoenix, Arizona. 4 It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions.. I mean, it is unlikely that one of the richest people in the world would invest in something that wasnt a good investment, right? There, on Gates parcels, an industrial farm grows potatoes for McDonalds french fries. After all, few can out-bid Bill Gates. Bill Gates may no longer be the world's richest man, but he can claim a new title: America's farmland king. Bill and Melinda have purchased numerous properties in Wellington, Florida, over the years. 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. If you said investment, then you are right. They bought and later sold an additional 6,000 acres in Georgia, NBC News found. Through his subsidiary Mt. Land will likely never be a bad investment, as long as the land is healthy and properly located. 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. So why did the Land Report dub him Farmer Bill this year? Bill Gates has secured legal approval for the controversial purchase of thousands of acres of prime North Dakota farmland, after the deal drew fury from the state's residents. 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. 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. His firms largest farmland acquisition happened in 2017, when it acquired 61 farming properties from a Canadian investment firm to the tune of $500m. Bill and Melinda Gates, who recently announced they're getting divorced and are dividing their assets, are deeply invested in American agriculture. Land holds ample opportunities for growth and development, yet you may find that there is more land than there is competition. This means that there is not much to maintain on it unless you want to add your own buildings or other property. 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. Gates' purchase averaged $12,000 per acre. . 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. The private residential area is home to numerous A-list celebrity couples including Justin Timberlake and Jessica Biel. 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. Weve answered hundreds of questions from people regarding the buying and use of land. 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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. The farmland was purchased through a constellation of companies that all link back to the couples investment group, Cascade Investments, based in Kirkland, Washington. So what is this guy planning? Our inventory spans mostly in the western United States. Except, it seems, when it comes to a private individual selling some land to iconic billionaire Bill Gates. 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. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. In total, Bill and Melinda Gates have acquired land in more than a dozen states. Almost 300,000 acres is a lot of land for one family or private individual to own, but it's still just a. Someone else is owning that asset, whether it's rented equipment or land. (Stephen Osman / Los Angeles Times via AP file), The buildings of the 100 Circles Farm are at the center of this satellite image. In emails, BlackRock spokesman Christopher Beattie told The Associated Press that the firm. Bill Gates' purchase of a large patch of land in North Dakota has sparked fury and conspiracy theories on social media after the Microsoft billionaire secured legal approval to purchase the. 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. Arable land is not just profitable. Bill Gates is buying up the majority of American farmland and BlackRock is buying the majority of single family houses but Im supposed to believe the biggest threat to us is Elon Musk buying Twitter? read one representative tweet thats been liked or shared on the platform more than 250,000 times. Marjorie Taylor Greene SHAMES Former . He owns significantly more farmland than Minnesota's Offutt family and California's Resnick family, which each own 190,000 acres and rank second equal on the list. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. Farmer Bill. There are also growing trends revolving around the purchase of low acreage farmland and noncommercial farming. The Gates family currently [] Farmland CNBC 2.94M subscribers Subscribe 47K 4.5M views 1 year ago #CNBC Bill Gates made. The extensive tax avoidance by these titans of industry will always far exceed their supposed charitable donations to the public. Bill Gates is now the largest private landowner in the country. 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. 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. The third richest man on the planet doesnt have a green thumb. In fact, he owns some of the land that produces potatoes used to make McDondalds french fries. 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 . This is where a country sells land when the owner becomes delinquent on their property taxes. Bill Gates now owns the most farmland of anyone in the United States, according to a recent report from The Land Report . 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. Thanks for contacting us. While land is a limited resource, there is still less competition for raw land than there is with residential and commercial real estate. False. 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. 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. The Associated Press reports that last week, billionaire Microsoft founder Bill Gates was cleared to purchase 2,100 acres of rural North Dakota farmland. 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. But they're just renting it. Gates shares 95% of the ownership with Saudi Prince Alwaleed bin Talal. 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, the land is audited to meet sustainability standards including soil health and water management. The average person has nothing in common with mega-landowners like Bill Gates or Ted Turner. 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 biggest shift in recent years from small to big farms was in the US. Its uncertain why Gates has invested in so much farmland or how his tracts are currently being used. That makes Invitation Homes the largest operator of single-family rental homes in the country, but still represents a tiny fraction of all such homes. This means that you can find good deals that may be just the thing you are looking for. Microsoft co-founder Bill Gates finally revealed the reasons behind his massive purchase of farmland: seed science and biofuel development. Public records suggest Cascade Investments has bought its farmland through a web of at least 22 limited liability shell companies across the country. 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. This map shows that area as a rectangle that can be dragged. 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. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. Several Properties in Wellington, Florida: $27.2 Million (Total). Weve been trained by experience, land acquisition courses, and hundreds of hours meeting with county assessors and clerks, zoning officials, realtors, and land investors.
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