While Gates owns nearly 270,000 acres of farmland across the US, he isnt the largest landowner in the country. 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 attraction that people have to investing in farmland is that it tends to be countercyclical to the stock market. (Google Maps), Image: The building housing the offices of Cascade Investment in Kirkland, Wash., on May 22, 2021. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them, BlackRock tweeted. While those companies dont explicitly name Cascade Investments as the owner in their public records, they do share the address of Cascade in Kirkland, Washington, or the address of a Cascade subsidiary, list the names of Cascade employees who registered the companies and sometimes even email addresses from the Bill and Melinda Gates Investment Group. (AP Photo/Michael Probst, File ), Connect with the definitive source for global and local news. The United States is defined by the excesses of its ruling class. These purchases are also a direct result of their daughters equestrian career hopes because of Wellingtons close proximity to the Palm Beach International Equestrian Center. Another 5,500 acres was sold to Generation Land Georgia, a company that shares an address with Miami-based Optimum Agriculture, which bought Generations Farms in 2019. Bill Gates is best known for revolutionizing personal computing, but lately he's gotten back to the land. The project is in its early . Listen to article. He is an assistant professor in the American studies department at the University of New Mexico. In Nebraska where he owns 20,000 acres, it is used for soybeans. 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. A 6,300-acre farm owned by Bill Gates in Madison County could become the site of one of the nation's largest solar farms. In every state where the Gateses own land, a tangled web of locally registered limited liability companies follow. They accounted for almost 1% of the agricultural land in the United States. 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 Gates family currently [] Farmland offers a strategy that is completely separated from his other wealth and investments. That's basically the motivation there. He said that this is where large tracts of rich farmland is used to raise livestock and grow many of the vegetables that end up in grocery aisles up and down the East Coast. In fact, he owns some of the land that produces potatoes used to make McDondalds french fries. 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. Gates achievement, according to the report, is that hes largest private owner of farmland in the US. It will not tell you that Bill Gates is your neighbor. The family's 1.7 million acres of land are primarily spread across Washington, Oregon, and California. The biggest shift in recent years from small to big farms was in the US. 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. It also offers proven return rates. Purchased fromMadeleine Pickens, the former wife of Texas billionaire T. Boone Pickens, the property deal is one of the largest ever recorded in the area,The Wall Street Journalreported. His firms largest farmland acquisition happened in 2017, when it acquired 61 farming properties from a Canadian investment firm to the tune of $500m. Much of Turner's land is used as grazing land for over 50,000 head of buffalo . The comments below have not been moderated, By
BlackRock also does not own the majority of the countrys 80 million single-family homes. There are also growing trends revolving around the purchase of low acreage farmland and noncommercial farming. Our inventory spans five western states. 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. Quarterman also serves as the Suwannee Riverkeeper and advocates for conservation of the intricate network of springs and rivers in the region, where water from the swamps of Georgia flow into Florida before they release into the Gulf of Mexico. Cascade declined to comment on its specific land holdings. 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. Bill Gates has secured legal approval for his North Dakota farmland purchase But the deal drew scrutiny under a 1932 anti-corporate farm ownership law Now state AG says the deal is legal, because . 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 . A Grimmway Farms employee moves a water pipe at one of their carrot farms in the Antelope Valley near Lancaster, Calif., in 2004. 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. ', Cascade did not elaborate on the agricultural land purchases other than to say that the company is 'very supportive of sustainable farming.'. Gates portfolio comprises about 242,000 acres of farmland and nearly 27,000 acres of other land across 19 states, according to The Land Report, a magazine for land investors that tracks the nations biggest landowners. "The agriculture sector is important. Malone continued, the forestry part of it in the Northeast is a pretty good business, with very low return on capital, but very stable and leverageable. False. In six years that number has more than doubled. 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. However, his largest land holdings are in Louisiana (69,071 acres), Arkansas (47,927 acres), Nebraska (20,588 acres . This can be an affordable way to get started with your raw land investments. Bill Gates' $13.5 million investment in 2,100 sprawling acres of North Dakota land has raised questions as the purchase coincided with a controversial Chinese company buying 370 acres of. For Indigenous caretakers, land use isnt premised on a return of investments; its about maintaining the land for the next generation, meeting the needs of the present, and a respect for the diversity of life. And we think it will provide good inflation protection in the long run. 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. 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. 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. Estate in Indian Wells, California: $12.5 Million. 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. In an interview with CNBC, Malone said that his biggest motivation for purchasing land was preservation and he said he hopes to buy more. There farmers primarily grow soybeans, rice, corn and cotton. These states include: Arizona - 25,750 acres; Arkansas - 47,927 acres The map shows a 242,000 acre square situated over New York. Farmland can be an investment in several ways. Dailymail.com Reporter
Now you have a foundation where the mission on one side is to save the world and to do all these wonderful things surrounding climate, and on the other side theyre investing in the exact same things that are causing the harm that the mission side is trying to protect, Mason said. That land is now largely rented out to various farmers. 5. According to 2021 article from the Land Report, a magazine about land ownership, Gates owns approximately 242,000 . buying an increasing share of the U.S. housing market. Learn more about fact-checking at AP. *According to figures compiled by The Land Report in 2019. In 2018 Gates reportedly bought 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 from an insurance company that had paid $75million for it in 2010. In other words, when the economy is struggling, the value of farmland generally doesnt depreciate. But Zehren of Cascade noted that the firm has been working in Florida and elsewhere to promote ecologically conscious agriculture and that it plans to continue to evaluate its farmland portfolio to improve its overall sustainability. While Gates is Americas biggest farmland owner, hes far from being the nations largest landowner in general. Brittany has been in the land business since 2020 when the world was starting to shut down. The Microsoft co-founder and his former wife, Melinda, are the top farmland owners in. Mason notes that trying to draw hard lines between ones philanthropic work and ones investments does not work. Gates and his wife own 269,000 acres of farmland. Here is the . But even with his big new agricultural holdings, Gates still doesn't rank in the Top 100 of private landowners overall in the U.S. - when considering owners of land of all types, not just agricultural. Our inventory spans mostly in the western United States. Since it works as an investment for him, it also includes the benefits of using land as an investment like he does. While most people do not have the ability to buy hundreds of thousands of acres of farmland like Bill Gates, anybody can look at land as an investment opportunity to take advantage of. 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. 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.
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