Almost 300,000 acres is a lot of land for one family or private individual to own, but it's still just a small part of the estimated 911 million acres of farmland in the US. He added: 'In addition, the states oldest winery, Chateau Ste. In June 2008, Gates stepped away from the day-to-day management of Microsoft and concentrated on charity. THE FACTS: As Elon Musks bid to purchase Twitter has grabbed headlines in recent days, some prominent voices have taken to social media to claim that some other significant acquisitions by deep-pocketed individuals and corporations have largely flown under the radar. The property is currently worth $130.8 million. 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 trustee of Red River Trust is Peter Headley, who identifies himself on his LinkedIn page as head of agriculture investment management at Investment Management Co. A 2020 article by NFU Mutual Charitable Trust claimed that Headley once headed an entity called Cottonwood, which was described as an ag-investment platform for Bill and Melinda Gates. The company also took to Twitter to reject the false narrative. After buying it for $2 million in 1988, Gates spent $63 million and seven years in building the 66,000 sq ft estate. If those properties were grouped together and placed on a list of the world's countries by land area, it would fall within the top 50, higher than both France and Spain. Although Gates owns these farms, he isnt changing their practices. retail, office buildings, hotels and apartment complexes, rather than single-family homes, but he declined to provide a breakdown. We are no longer accepting comments on this article. Its soil health programme has set up 9000 dealers within 5 kilometres of farmers to sell them the supplies they need. The billionaire tech mogul and philanthropist has quietly amassed nearly 270,000 acres of farmland across the country, but thats still a relatively small slice of the nations nearly 900 million total farm acres. 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. The trust and Headley were given 30 days to respond to the letter. Farms also have a role in fighting climate change. For investors who know what theyre doing, agricultural land offers financial stability in uncertain times. It has become a marquee brand in one of the hottest sectors of the food business. The WFP has bought 450,000 tonnes of food, worth $177 million, and the scheme is set to continue. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. The fund recently raised $1 billion, which it is pouring into companies developing hydrogen-fueled airplanes, zero-carbon building materials, and other green innovations. Total acreage for Bill Gates: Well over 270,000 acres. This parcel apparently makes up the bulk of the billionaire couples farmland holdings. 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. Wonderful Company cofounders Stewart and Lynda Resnick (net worth: $7.1 billion) ranked number three . She then joined the AGRA programme (see main story), who put her forward as a model participant. Today, the Belmont tract remains mostly empty desert. 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). Without innovation, we will not solve climate change, Gates said. It isless than .1% of all US farmland because the ownership is so diverse. ; That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for . He said he did so to make the farms "more productive" and "create more jobs," adding that it was his investment team that made the decision. 4. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. The billionaire is one of the founders of the Giving Pledge, which asks the world's wealthiest people to give away most of their fortunes to charitable causes. 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. 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. Im hoping to lay a concrete floor soon, she says. 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. Expanding the AGRA scheme was set to be high on the agenda, Jama says. In total Mr Gates and his wife Melinda own 269,000 acres of land across 19 states, including 69,071 acres in Louisiana and 47,927 acres in Arkansas. He assigned his research team to dig a little deeper. For now, though, all that smart city talk is more than a little premature. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. James B. Meigs is the co-host of the How Do We Fix It? podcast and the former editor-in-chief of Popular Mechanics. That immediately set off alarm bells, OKeefe says. We wont even come close.. That removes a major way for actual farm operators to . The entity shares the same address as Campbell Farms. Farming is all of a sudden part of the solution and not just part of the problem, Sherrick adds. Impossible Foods makes plant-based protein that can be fashioned into burgers. His magazine, The Land Report, tracks major land transactions and produces an annual list of the 100 biggest US landowners. Weve never been one of the big institutional buyers of single family homes, BlackRock said in response to one tweet. Wife is shocked after husband of 15 years asks for permission to have an affair: 'I don't know what to do', My Daily Horoscope: What does March 2nd hold for MY star sign? In his annual Reddit Ask Me Anything session on Wednesday, Gates was asked why he has made all of his farmland purchases. They give farmers more bargaining power and allows them to jointly fund communal assets, such as secure storehouses. AGRA farms are key suppliers, says Gudmunds. 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. as well as other partner offers and accept our. Banda has also been able to buy an ox cart and pay school fees for one of her children. Follow Technocrats.newsfor more news and information related to Bill Gates and other big tech personalities. Bill Gates' Mega House - $154 Million. Although nowhere near 80 percent of U.S. farmland, its still a little more than one-third of the state of Rhode Island, a surprising amount for one person and enough to make Gates the largest landowner in the U.S. Banda is one of 1.75 million African smallholder farmers, 40 per cent of them women, enrolled in a $180-million five-year programme run by the Alliance for a Green Revolution in Africa. (Related:Why is Bill Gates buying up farmland across America?). Earlier this week, North Dakota State Attorney General Drew Wrigley wrote a letter to Red River Trust, care of Headley, notifying it that corporations and limited liability companies were prohibited from owning or leasing farmland or ranchland in the state of North Dakota., Wrigley wrote that these entities were also barred from engaging in farming or ranching.. NOW WATCH: Bill Gates has a net worth of over $96 billion here's how he makes and spends his money, his close friend and Berkshire Hathaway CEO, Warren Buffett, he'll sell what he owns as money goes towards the foundation. Weve never been one of the big institutional buyers of single family homes, BlackRock, single-family rentals nationwide. John Malone is the largest private landowner in the United States. Three-quarters of them live in South Asia and sub-Saharan Africa. The farmland that Gates owns is located in 19 states. The first necessity is fertiliser. Red River Trust filed paperwork with the office of the secretary of state of North Dakota on Feb. 15 of this year. Behind Gates in terms of investment in farmland are the cofounders of the Wonderful Company, Stewart and Lynda Resnick, with 190,000 acres. Three years ago, the harvest amounted to three cartloads of maize and four to six bags of soybeans. And in Africa, there's a particularly prominent initiative driving corporate agriculture's agenda Bill Gates's Alliance for a Green Revolution in Africa (AGRA). from February that showed there were more than 895 million total acres of farmland in the country last year. Michelle, has two of its largest vineyards in that AVA: Canoe Ridge Vineyard and Columbia Crest Vineyard. 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. While that is . This article appeared in print under the headline Bringing Africas farms back to life, Explore the latest news, articles and features, Island-hopping cougars swim kilometres through icy water off US coast, This new version of quantum theory is even stranger than the original. A corporation or LLC found in violation of the law has up to a year to divest itself fromt he land or face a penalty up to $100,000, according to the letter. Why is Bill Gates buying up farmland across America? 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 more in-depth look at the facts makes a compelling case against the billionaire. Our office needs to confirm how your company uses this land and whether this use meets any of the statutory exceptions, such as the business purpose exception, so that we may close this case and file it in our inactive files, the letter says. The nearby community of Buckeye has grown more than tenfold in the last 20 years. Lemmon Holdings invested in some 40 square miles of transitional land on the western fringe of the Phoenix sprawl. He also bought farmland in Washington state in 2018, The farmland was bought by the couple, pictured at Lincoln Center in New York in 2017, mostly through their investment company, Cascade Investments, and is not connected to the Bill and Melinda Gates Foundation, which also works to help support farming. How much land does he own? Through Sierra Pacific, the family owns some 2 million acres in California and Washington. The Prestigious school where Princes William and Harry were educated is EPHRAIM HARDCASTLE: Prince William's potentially awkward visit to homelessness charity. How fitting! It is 30 kilometres from Mwambaso, the village where she lives to the nearest town, Mchingi. 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. People want to know, Why does Bill Gates want all this land? , But hyper-wealthy people like Gates dont make every decision personally, OKeefe notes. Couple find note in chimney that reveals their 290,000 house was 100 times cheaper 50 years ago. Bill Gates, whose house in the Medina area of Seattle is pictured, has built up a diverse property portfolio over the years. In total, Mr Gates and his wife Melinda own 269,000 acres of land across 19 states, including 69,071 acres in Louisiana and 47,927 acres in Arkansas. , an annual survey of the nations largest landowners. It aims to help poor farmers, especially in Africa and South Asia, get the tools, technologies, and resources they need to lift themselves out of poverty. If each acre can produce more food, thats good news for farmers. BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. The same logic likely holds for Gates Arizona acquisitions. Getty Images for TIME Bill Gates is best-known for cofounding Microsoft, but he's also a major US landowner, having bought 275,000 acres of farmland. Whether or not Gates personally directed Cottonwood Ag to get involved in the Leading Harvest project, the move makes both environmental and business sense. 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. According to the Winter 2020 issue of The Land Report, a quarterly magazine that tracks U.S. land sales, Bill and Melinda Gates now own 242,000 acres of farmland worth "more than $690 million . Gates . Thanks for contacting us. Corporate Agriculture Against Global Hunger. Gates who stepped down from day-to-day involvement with Microsoft in 2008 has long been looking for ways to help the worlds poorest and to address the planets environmental challenges. 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. That means Gates, whose net worth is estimated at some $134 billion. En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. The group is called Leading Harvest, and the Gates-linked Cottonwood Ag is one of its founding members. Large investors usually work with expert advisors to help them acquire and manage their agricultural holdings. Jumbuck Pastoral Company is owned by the MacLachlan family. We hope by 2015 to have reached 20 million smallholders, says Bashir Jama of AGRA, who runs the organisations soil health programme. Her new house is made of brick and has a tin roof and two bedrooms. ET First Published: March 10, 2021 at 8: . This isn't the first time Gates has called for higher taxes on the wealthy. Bill Gates is one of the richest men in the world, but his wealth pales in comparison to that of other billionaires. 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. As the Land Report notes, 24,800 acres of the land is transitional, located on the western edge of Phoenix, the tenth-largest metropolitan area in the country, and the most populous city in Arizona. Most notably, in 2017, the Gates-affiliated Mt. The . The groups founding members are expected to spearhead the rollout of the new standards on their own lands. The Land Report reference came out in winter 2021, after which controversies circulated about Gates' accumulation of American farmland. THREE years ago, Lucy Banda and her six children lived in a two-room house made of soil dampened and tamped into a dome, with just one bedroom and a living room. He sees Gates involvement even if indirect as crucial in encouraging the industry to embrace the new sustainability standard. Larson makes money, and Mr. Gates gives it away., Larson and his team are famously tight-lipped. That means Bill Gates owns 378 square miles of the United States. Mr. In his annual Reddit AMA Wednesday, Gates was asked why he has bought so much farmland. Investors bought a record 18.4% of the homes purchased in the fourth quarter of 2021 three-quarters of which were single-family homes, according to real estate firm RedFin. The total portfolio of farmland is worth well over $700 million. . In 1994 Bill and Melinda Gates are said to have hired Michael Larson to help them diversify their property portfolio. Bill Gates and Neo-Feudalism: A Closer Look at Farmer Bill. 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. That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for billionaires. Healthy mother-of-two, 32, collapsed and died from brain bleed while she led fitness bounce class. While private companies and corporations are increasing . New Scientist went to press before the meeting finished. Many believe unhinged conspiracy theorists fuel the trend. This was also invaluable. Larson sees to it that Gates wealth is sensibly, even conservatively, invested. Gates' purchase averaged $12,000 per acre. Rising temperatures could also shrink by up to 80 per cent the areas where beans will grow. Theres also a proposal to build a new interstate linking Phoenix to Las Vegas. The Emmerson family owns and operates Sierra Pacific Industries, a company that logs usable lumber after forest fires and sells it to lumber retailers. 2 min read. "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. The portion of land that isn't owned by farmers varies widely regionally; in some areas, almost 80 percent of agricultural land is held by non-operators. It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions., According to the North Dakota Corporate or Limited Liability Company Farming Law, there are certain exceptions, such as permitting registered family farms or allowing the use of the land for business purposes., Wrigleys office said it had come to our attention that Red River Trust may have acquired land for farming or ranching in Pembina County on Nov. 4, 2021.. She is thinking of buying land to build a house for renting, and a truck to allow her to trade her merchandise more widely. the latest American Housing Survey by the Census Bureau. The new green economy will mean new opportunities for land owners, OKeefe believes. The project isnt yet funded. Most likely, it is just one more asset in Gates vast portfolio, quietly appreciating in value while the billionaire himself remains at arms length. Ive gotten a big earful on this from clear across the state, its not even from that neighborhood, said Goehring. Darren lives in Portland, has a cat, and writes/edits about sci-fi and how our world works. While he owns a significant amount, it is a relatively small slice of the nations nearly 900 million total farm acres. It has been very fulfilling for me and is my full time job," Gates continued. Dr. Alan Busacca, professor emeritus at Washington State University, told Land Report at the time that the fertile land in the area was used for growing 'apples, cherries, carrots, dryland and irrigated wheat, and row and field crops'. Gates, in an Ask Me Anything session on Reddit last year, said his investment group was behind the purchases, and suggested it was linked to seed and biofuel development. 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. As of 2019, around 40 percent of American farmland is rented to tenants, who then operate on it. P4P aims to link the smallholder farmers explicitly into the process. Get the world's best independent media newsletter delivered straight to your inbox. At least thats what the developers partnered with Gates investment group have promised. Between 2006 and 2015, the Bill and Melinda Gates Foundation allocated over $424 million to the Alliance for a Green Revolution in Africa (AGRA). 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. And Eastern Washington has some of the richest, most expensive farmland in the country. One of the consequences of farm operators not actually owning their land is figuring out where farm subsidy money goes; much of it trickles to the actual owner of the land, who may just be treating farmland as a basic real estate investment. He now owns more farmland than my entire Native American nation 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. of the richest people in the country, owns less than one percent of the nations total farmland. As of 2020, industry reports show he owned about 0.027% of U.S. farmland. With $22 million in . The company is the largest producer of wool in Australia. Otherwise, Id have missed out on the information that has transformed my life, she says. "Bill Gates, co-founder of . The 65-year-old responded by declaring his . False. He created the pledge in 2010 with his then-wife, Melinda French Gates, and his close friend and Berkshire Hathaway CEO, Warren Buffett. On average their farms yields have doubled (see chart below). Gates,in an Ask Me Anything sessionon Redditlast year, said his investment group was behind the purchases, and suggested it was linked to seed and biofuel development. AGRA has provided advice and expertise for 155 such groups in Ghana alone. A new report from AGRA says climate change could increase the number of malnourished people in sub-Saharan Africa from 223 million today to 355 million in 2050. They bought and later sold an additional 6,000 acres in Georgia, NBC News found. 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.'. The region west of Phoenix is booming. Their largest holdings are 69,071 acres in Louisiana, 47,927 acres in . The investment companys single largest acquisition of farmland came in 2017 when it paid $520 million to purchase 61 properties from the Canada Pension Plan Investment Board (CPPIB). Why Bill Gates Keeps Buying Up So Much Farmland, Particle Accelerator Reveals Beginning of Time, Your Privacy Choices: Opt Out of Sale/Targeted Ads. The moguls holdings include large tracts in Illinois, Iowa, Louisiana, California, and about a dozen other states. In 2014, he reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. And the Bill and Melinda Gates Foundation recently launched a new division known as Gates Ag One. (AP Photo/Michael Probst, File ), Connect with the definitive source for global and local news. 'Gorilla Glue girl' Tessica Brown finds breast lumps befor 11-year-old reads aloud from 'pornographic' book he checked out from library at school board meeting, Chicago's top cop quits one day after woke mayor lost re-election bid, Influencer refuses to switch business class seats so family can sit together, RHOA star Drew Sidora accuses ex Ralph Pittman of cheating, mental abuse, Original Gone With The Wind script reveals secret war over slavery, cut scenes, Drake regrets disrupting someones life by name-dropping exes in his songs, Good luck 'worming' your way out of this one, Sunny Hostin Points Finger at China for COVID Crisis: Did Not Cooperate With the International Community, 'Disgraceful' Meghan, Harry 'provoked' King Charles to evict them: royal expert. That means Gates, whose net worth is estimated at some $134 billion according to Forbes annual ranking of the richest people in the country, owns less than one percent of the nations total farmland. Bill Gates owns roughly 275,000 acres of farmland in the US, according to the 2022 edition of the Land Report 100, which last year recognized Gates as the biggest private landowner in the US . The comments below have not been moderated. Gates, who is the fourth-richest person in the world, owns an estimated 242,000 acres of farmland, analysis by The Land Report discovered.. More surprising, however, was the fact that Bill and Melinda Gates own more private farmland . Leading Harvest envisions a kind of sustainability seal of approval certifying that a given farm meets environmental standards. Larson also makes sure Gates keeps his eggs in a wide variety of baskets. Gates, currently the sixth-richest person in the world, has a net worth of $111 billion, according to the Bloomberg Billionaires Index. Washington has some of the big institutional buyers of single family homes, BlackRock said in response one. 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