Housecall is the official blog of RISMedia, covering real estate news and information for agents, brokers and their clients. Now Bill Gates appears to have acquired a slice of their tiny city, and locals near. Land holds ample opportunities for growth and development, yet you may find that there is more land than there is competition. While land is a limited resource, there is still less competition for raw land than there is with residential and commercial real estate. When pressed during a book discussion on Reddit about why hes gobbling up so much farmland, Gates claimed, It is not connected to climate [change]. The decision, he said, came from his investment group. Cascade Investment, the firm making these acquisitions, is controlled by Gates. In January 2021, Bill Gates became the largest owner of farmland in the United States. You may also be interested in why a billionaire wants land. 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.. Since then, weve sold to dozens of people from ATV weekend warriors to camping enthusiasts to retired truck drivers. In addition, the land is audited to meet sustainability standards including soil health and water management. One of the Gates' favorite vacation homes is in the Yellowstone Club in Big Sky, Montana. Where Does Bill Gates Own Farmland in the US. 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. This could allow you to sell or lease the individual lots of land on the property. The report on US Land Ownership ("Land Ownership Report" / 1-21-22) indicates that Bill Gates, the founder of Microsoft and holder of 45% of its shares, is the main owner of North American land, owner of an area of more than 250,000 acres (101,171.4 hectares) deployed throughout the immense US territory, the fourth in the world in order of . Lemmon Holdings, the billionaire spent $80 million to purchase. The land that Gates owns is located in several states and consists primarily of commercial farmland. 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. And that its going to take big swaths of land, like what Bill Gates has taken, to do that, said Konda Mason, the founder and president of Jubilee Justice and Potlikker Capital, which funds and supports regenerative agriculture projects owned by people of color. , said his investment group was behind the purchases, and suggested it was linked to seed and biofuel development. Many people wonder why Bill Gates would make these moves with his investment portfolio. Since it works as an investment for him, it also includes the benefits of using land as an investment like he does. 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. In 2014, Cascade Investments combined both of those companies and the land into Generations Farms, which continued to grow vegetables. Bill Gates owns a lot of American farmland, but not the majority By PHILIP MARCELO May 2, 2022 CLAIM: Microsoft co-founder Bill Gates owns the majority of America's farmland and the investment firm BlackRock holds the majority of single family houses in the country. Bill Gates is best known for revolutionizing personal computing, but lately he's gotten back to the land. Farmland offers a strategy that is completely separated from his other wealth and investments. The map shows a 242,000 acre square situated over New York. He also purchased the 800-acre Bridlewood Farms in Florida. Mason notes that trying to draw hard lines between ones philanthropic work and ones investments does not work. Through his subsidiary Mt. (Ruth Fremson/The New York Times) (Ruth Fremson / The New York Times via Redux Pictures), John Quarterman on his farm in Lowndes County, Ga. (Matt Odom / for NBC News), John Quarterman stands by the Withlacoochee River. Bill Gates: America's Top Farmland Owner | The Land Report. 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. Bill Gates was quietly becoming the biggest private owner of farmland in the United States. The project is in its early . 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. Gates shares 95% of the ownership with Saudi Prince Alwaleed bin Talal. Raw land is not developed. Bill and Melinda Gates, who recently announced they're getting divorced and are dividing their assets, are deeply invested in American agriculture. The 1862 Homestead Act opened up 270m acres of Indigenous territory which amounts to 10% of US land for white settlement. Bill Gates acquired six parcels of land in Pembina County. ', Cascade did not elaborate on the agricultural land purchases other than to say that the company is 'very supportive of sustainable farming.'. If youre looking at what this means for farmers on the ground looking to access land, theres significant competition from nonfarmers, and that really affects young farmers because it means that the price that theyre trying to compete with on the marketplace is driven and determined by people who are not dependent on a farming income, Rippon-Butler said. 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 Citizen Kane. But why do a handful of people own so much land? Tuesday, the office of the Attorney General sent out a letter asking the Red River Trust to confirm how the company plans to use the land . Bill Gates now owns more farmland than anyone else in the United States, as the tech tycoon has quietly purchased 242,000 acres of farmland in several states across the country. CLAIM: Microsoft co-founder Bill Gates owns the majority of Americas farmland and the investment firm BlackRock holds the majority of single family houses in the country. 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. 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. That crown belongs to Liberty Media chairman John Malone, who has 2.2 million acres, according to The Land Report. Apple is ditching more fancy features that just annoyed ev REBNY's new return-to-office gauge paints bright view for 'trophy' towers, Food delivery maven unveils NYC shop after dumping Mercedes mobile kitchens, US home prices just did something they haven't done since 2012, JPMorgan Chase requires some workers give 6 months notice before quitting, This Girl Scout cookie flavor is reselling for $100 online -- here's why, Tom Sandoval breaks silence on Ariana Madix split amid cheating claims, Kelly Osbourne posts first photo of baby son as he hangs out with uncle Jack, Greys Anatomy alum Isaiah Washington retiring from acting: The haters have won, Max Scherzer's first look at the new pitch clock, Kellyanne Conway and George Conway to divorce, Canadian teacher with size-Z prosthetic breasts placed on paid leave. A white man owns more farmland than my entire Native nation! We are no longer accepting comments on this article. In Georgia and Florida, NBC News independently confirmed through research of property records that the Gateses investment firm owns more than 7,000 acres through two limited liability companies, Lakeland Sands and Lakeland Sands Florida, LLC. The United States is defined by the excesses of its ruling class. His 242,000 acres of farmland stretch across 18 states from Washington to Florida,. Thanks for contacting us. You may have heard that Bill Gates owns a lot of land, but you may not know how much. 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. Gates has been buying land like its going out of style. Farmland CNBC 2.94M subscribers Subscribe 47K 4.5M views 1 year ago #CNBC Bill Gates made. 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. In 1994 Bill and Melinda Gates are said to have hired Michael Larson to help them diversify their property portfolio. One of the Gates favorite vacation homes is in the Yellowstone Club in Big Sky, Montana. We know that one of the best ways to sequester carbon is through the soil. 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). 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. 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 currently owns over 268,000 acres of American farmland spread out over 19 states. The price makes this one of the most expensive home sales in this part of California ever. Why aren't they giving more? According to Forbes, the worlds billionaires saw their wealth swell by $1.9tn in 2020, while more than 22 million US workers (mostly women) lost their jobs. Recently, an article in Land Report stated that Bill Gates owns more American farmland than anyone else. BlackRock, meanwhile, is also not the owner of the majority of single family houses in the country. Much of Turner's land is used as grazing land for over 50,000 head of buffalo . Reed family: Land area: 1.7 million acres. Our inventory spans five western states. 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. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. BlackRock also does not own the majority of the countrys 80 million single-family homes. But that could soon change. While he owns a significant amount, it is a relatively small slice of the nations nearly 900 million total farm acres. 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. Gates and his investment team own more than 240,000 acres, as reported by Eric O'Keefe, including 2,167 acres in Michigan. Our era is dominated by the ultra-rich, the climate crisis and a burgeoning green capitalism. The family's 1.7 million acres of land are primarily spread across Washington, Oregon, and California. We would love to talk to you! Malone's 2.2 million acres are largely located in Maine, New Mexico, Colorado, and Wyoming and include profitable cattle ranches. This is where a country sells land when the owner becomes delinquent on their property taxes. A 2018 purchase of 14,500 acres of prime eastern Washington farmland which is traditional Yakama territory for $171m helped him get that title. However, his largest land holdings are in Louisiana (69,071 acres), Arkansas (47,927 acres), Nebraska (20,588 acres . His firms largest farmland acquisition happened in 2017, when it acquired 61 farming properties from a Canadian investment firm to the tune of $500m. This can potentially earn you tons of money. Farmland can be an investment in several ways. The billionaire Microsoft co-founder has become the largest owner of farmland in the United States by quietly buying up massive plots across the county, a new report says. The foundation aims to support country-led inclusive agricultural transformation across sub-Saharan Africa and South Asia, according to its website. You can also look at local resources in your area to see where land is being bought or sold. Hes the landlord, or rather, the companies owned by his investment firm are the landlords. Xanadu 2.0 in Medina, Washington: Estimated $140-170 Million, Source: Steve Ringman / The Seattle Times. The firm is a shareholder in Dallas-based Invitation Homes, which owns nearly 80,000 single-family rentals nationwide. This way, the land will remain productive and healthy, while also becoming a money-driving investment. Black, Mexican, Asian, and Native people, of course, were categorically excluded from the benefits of a federal program that subsidized and protected generations of white wealth. The worlds richest 1% emit double the carbon of the poorest 50%, an 2020 Oxfam study found.
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