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Bill Gates Defends Farmland Purchases: 'There Isn't Some Grand Scheme' The magazine editor, Eric O'Keefe, was researching a purchase of 14,500 acres of prime Washington State farmland and found that the buyer was a small company in . Why Bill Gates is now the US' biggest farmland owner - New York Post In their 2018 annual letter, the Gates Foundation answers the top ten questions they received, and they admitted that they didnt think it was fair that their family had so much global influence. Soon they came back with the answer: The Louisiana company was acting on behalf of Cascade Investment LLC, the secretive investment firm that manages most of the huge fortune belonging to Bill Gates. In an interviewwithMIT Technology Review last month, Gates argued that higher-income societies should completely replace their consumption of cattle-derived beef with synthetic alternatives. In 1999, Cascade Investment made an interesting decision: Gates sold over 7 million personal Microsoft shares to further diversify his portfolio. A $13.5 million purchase of a North Dakota potato farm is drawing outrage and legal scrutiny. Farmland Riches is sponsored by FarmTogether. Sign up for notifications from Insider! Without innovation, we will not solve climate change, Gates said. It has also funded myriad research facilities and humanitarian operations, focusing on overcoming diseases, climate change, agricultural research, and health and nutrition in underdeveloped areas. Some of the wealthiest landowners including Jeff Bezos, John Malone, and Thomas Peterffy are buying up forests, ranches and farmlands across . One of the most telling moments in the field that summer came when a soil scientist by the name of Alan Busacca grabbed a shovel and stepped into a 10-foot trench that had been ripped open on the farm by a Caterpillar 336. Contact Land Income today! The fund recently raised $1 billion, which it is pouring into companies developing hydrogen-fueled airplanes, zero-carbon building materials, and other green innovations. There will be incentives for things like using less water, fewer chemicals, and storing more carbon. This parcel which apparently makes up the bulk of the Gatess farmland holdings had previously belonged to Agriculture Company of America, a real estate investment trust acquired by CPIBB in 2013. All told, the 2017 acquisition of AgCoA and the 2018 acquisition of the 100 Circles tract in the Horse Heaven Hills of eastern Washington total an investment in farmland assets of more than $690 million. How can this inform our personal investment decisions? Most of us imagine farmers tilling the soil that has been in their families for generations. When Ted Turner bought his Flying D Ranch in Montana in 1989, that was his personal passion, OKeefe says. Strike three, right? What is certain is that Gates won't be the last private citizen to do so. By Eric O'Keefe 1/15/2021 Listen to article Photo credit: Chesnot, Getty Images Call it a hunch, but the story did not jibe. Many people wonder why Bill Gates would make these moves with his investment portfolio. The cofounder of Microsoft and his wife make an auspicious debut on the 2020 LAND REPORT 100, as Americas largest private farmland owners. Why Bill Gates is the largest private farmland owner in the United Gates responded: "I own less than 1/4000 of the farmland in the US. Youre not investing in a building that will decay over time, but the rich farmland itself. Some of it goes to surrounding states, across the border, or it ends up someplace else. Thus, in Gates mind, its extremely important to help empower these developing peoples before that year comes to fruition. The farm was subsequently sold to AgCoA, which was acquired by the Canada Pension Plan Investment Board. The groups founding members are expected to spearhead the rollout of the new standards on their own lands. Bill Gates is an American technology pioneer. And for those wondering why exactly Gates has taken a keen interest in investing in farmland across the country, look no farther than the profit margins. Report: Bill Gates is largest owner of private farmland in U.S., with I have invested in these farms to make them more productive and create more jobs. Bill Gates owns massive parcels of farmland. It's not part of his plans This is a sponsored promotion for the AcreTrader platform. Read more here. For example, seeds are being genetically designed to grow in near non-arable and hostile soil conditions.. (AP Photo/Michael Probst, File ), Connect with the definitive source for global and local news. FILE - Bill Gates attends a discussion during the 'Munich Security Conference' in Munich, Germany, Friday, Feb. 18, 2022. One of my favorite Clint Eastwood movies is the 1999 mystery/thriller True Crime. Gates, currently the sixth-richest person in the world, has a net worth of $111 billion, according to the Bloomberg Billionaires Index. Back in January, US magazine The Land Report revealed that Bill and Melinda Gates have amassed the largest portfolio of private farmland in the US, comprising an estimated 242,000 acres. His environmental bent also extends to farming. Apply to GLOCALs 2023 program to help advance Latin American agrifoodtech, What is the role of biotech in an ethical food system? Past performance is no guarantee of future results. 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. Talk about big bets. However, no one knows precisely when that will happen. Bill Gates' purchase of North Dakota farmland cleared - New York Post Does this investment say anything about the state of the. (According to The Land Report, Gates owns about 27,000 acres of non-agricultural land, in addition to his farm holdings.). Although the Bill & Melinda Gates Foundation has no ties whatsoever to Cascade or its investments, it also has a farmland initiative: Gates Ag One, which has established its headquarters in the Greater St. Louis area. Gates owns roughly 275,000 acres of farmland in the US, according to the 2022 edition of the Land Report 100, a yearly survey of the biggest landowners in the country. This is especially helpful if, say, the stock market crashed, and you had a more aggressive stock portfolio (or any large stake in stock at all). 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. 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. Prior to this in 1999, Bill sold off tons of Microsoft stock to diversify. It wasnt long before subreddit chains and conservative voices began inquiring whether Gates, 66, had any ties to the Chinese investment near Grand Forks. Theres also a proposal to build a new interstate linking Phoenix to Las Vegas. So, what's the interest in farmland? His . However, Bill Gates investing in farmland may encourage others to begin viewing farmland as smart investing opportunities. Not surprisingly, one of Leading Harvests other inaugural members is a Cascade entity called Cottonwood Ag Management. dvelopper et amliorer nos produits et services. Meanwhile, American agriculture today is being transformed as farmers employ new technologies and Big Data to help them manage their crops. Rating: False About this rating Context In April 2022, conspiracy theorists insinuated that billionaire Bill Gates. Merged from the William H. Gates Foundation and the Gates Learning Foundation, The Bill and Melinda Gates Foundation quickly became the largest private foundation in history. 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. Bill Gates' purchase of North Dakota farmland has locals 'livid': official And the traditional ways of owning, operating and profiting from farmland will probably change now that Bill Gates is the largest private owner of farmland in the country. Why Is Bill Gates Buying Farmland? You'll be Surprised We need a lot of technologies synthetic meat, energy storage, new ways of making building materials, he wrote. One main benefit to alt assets especially for those whore heavily invested in the stock market is you can diversify your overall investment portfolio outside the NYSE/NASDAQ. There were 895.3. 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 farmland just 40 miles away. 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. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them,. Contact Contact Land Income today. And why is Bill Gates the largest private owner of farmland in the United States?