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National & World Ag News Headlines |
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Bill Gates Becomes Nation's Largest Farmland Owner
USAgNet - 01/15/2021
Bill Gates, the fourth richest person in the world, has been quietly snatching up 242,000 acres of farmland across the U.S.. According to Forbes, that's enough to make him the top private farmland owner in America.
After years of reports that he was purchasing agricultural land in places like Florida and Washington, The Land Report revealed that Gates, who has a net worth of nearly $121 billion, has built up a massive farmland portfolio spanning 18 states.
His largest holdings are in Louisiana (69,071 acres), Arkansas (47,927 acres) and Nebraska (20,588 acres). Additionally, he has a stake in 25,750 acres of transitional land on the west side of Phoenix, Arizona, which is being developed as a new suburb.
According to The Land Report’s research, the land is held directly and through third-party entities by Cascade Investments, Gates’ personal investment vehicle.
While it may be surprising that a tech billionaire would also be the biggest farmland owner in the country, this is not Gates’ only foray into agriculture. In 2008, the Bill and Melinda Gates Foundation announced $306 million in grants to promote high-yield,
sustainable agriculture among smallholder farmers in sub-Saharan Africa and South Asia. The foundation has further invested in the development and proliferation of “super crops” resistant to climate change and higher-yield dairy cows.
It is not entirely clear how Gates’ farmland is being used, or whether any of the land is being set aside for conservation.
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