Theres also a proposal to build a new interstate linking Phoenix to Las Vegas. One of the Gates' favorite vacation homes is in the Yellowstone Club in Big Sky, Montana. In a new report, GRAIN analyses all the food and agriculture grants the foundation has made up until 2020, and reveals that while the Foundation allegedly prioritises African farmers, the vast majority of its funding actually goes to groups in North America and Europe. Why is Bill Gates buying up farmland across America? By clicking Sign up, you agree to receive marketing emails from Insider Larson sees to it that Gates wealth is sensibly, even conservatively, invested. In fact, in June of 2022 he secured an additional 2,100 acres of farmland in North Dakota for roughly $13.5 million. Bill Gates is well-known for building Microsoft, but it's a lesser-known fact that he's also the biggest private landowner in the US. Amazing, if truebut its extremely not. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them, BlackRock tweeted. While Gates appears . While he owns a significant amount, it is a relatively small slice of the nations nearly 900 million total farm acres. If the nations largest farmland owner can show that farming can be both sustainable and profitable, that will make a big difference. Gates Biggest Owner of Farmland in US Now says: "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. 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. 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. The farmland acquired by Gates appeared to be earmarked for genetically engineered corn and soy crops the base foods for what will become synthetic ultra-processed products like synthetic meat. 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 ofthe Land Report 100, an annual survey of the nations largest landowners. Cascade employees almost never speak to the press. 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). Similar to private equity firms destabilizing the housing market, millionaires and billionaires investing in farmland are also creating their own set of issues, as they are now pricing out young farmers looking to buy land. FILE - Bill Gates attends a discussion during the 'Munich Security Conference' in Munich, Germany, Friday, Feb. 18, 2022. Farms also have a role in fighting climate change. Ive gotten a big earful on this from clear across the state, its not even from that neighborhood, said Goehring. ', In 2008, The Bill & Melinda Gates Foundation announced $306 million in grants designed to boost the yields and incomes of millions of small farmers in Africa as well as 'other parts of the developing world so they can lift themselves and their families out of hunger and poverty.'. In his new book, How to Avoid a Climate Disaster, Gates explains why raising beef cattle causes more harmful emissions than other forms of agriculture. of the richest people in the country, owns less than one percent of the nations total farmland. He hopes plant-based substitutes will allow us to cut down on meat eating while still enjoying the taste of meat.. .css-v1xtj3{display:block;font-family:FreightSansW01,Helvetica,Arial,Sans-serif;font-weight:100;margin-bottom:0;margin-top:0;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-v1xtj3:hover{color:link-hover;}}@media(max-width: 48rem){.css-v1xtj3{font-size:1.1387rem;line-height:1.2;margin-bottom:1rem;margin-top:0.625rem;}}@media(min-width: 40.625rem){.css-v1xtj3{line-height:1.2;}}@media(min-width: 48rem){.css-v1xtj3{font-size:1.18581rem;line-height:1.2;margin-bottom:0.5rem;margin-top:0rem;}}@media(min-width: 64rem){.css-v1xtj3{font-size:1.23488rem;line-height:1.2;margin-top:0.9375rem;}}Particle Accelerator Reveals Beginning of Time, Earth's Inner Core Has Another Inner Core, 8 Questions About Turkey With an Earthquake Expert, Conspiracy: Blaming Weather Weapons for Earthquake, Scientists Just Discovered a Literal Hell, How the NFL Grew the Field for Super Bowl LVII, The Doomsday Clock Is at 90 Seconds to Midnight, Uh, Earth's Inner Core Just Stopped Spinning, Supercomputer: 27% of Earth's Life Dead by 2100, 20 Weird Facts About Our Lovable Planet Earth. Given that Gates is the third-richest person in the world with an estimated net worth of $132 billion, he falls in behind Tesla founder Elon Musk and Amazons Jeff Bezos those money managers have their hands full. What is the Venus-Jupiter conjunction and how can you view it? 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 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. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. Three years ago, the harvest amounted to three cartloads of maize and four to six bags of soybeans. The option does not identify how much land . According to mainstream media outlets like the Associated Press, there's absolutely nothing to see here as the Microsoft mogul becomes the largest private owner of U.S. farmland, having acquired as many as 270,000 fertile acres. The AGRA project is the most concerted effort yet to fix the problem. In reality, the idea that Bill Gates was single-handedly reinventing farming or designing cities of tomorrow was almost entirely speculation. *According to figures compiled by The Land Report in 2019. The commitment is a ten-fold increase from the foundation's . You can find his previous stuff at Gizmodo and Paste if you look hard enough. As Slate financial writer Henry Grabar concluded, the proposed town of Belmont is not a city, nor is it smart, nor does the Microsoft founder appear to be involved in any meaningful way.. The land, most of which is non-irrigated, was transferred to Red River Trust on Nov. 2 and Nov. 3 of last year. 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. For their part, governments must improve water storage and create drought-resistant crops. 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. NY Post Gates is said to own nearly 270,000 acres of farmland nationwide. The Land Report magazine reported in January that Bill and Melinda Gates have amassed the largest portfolio of private farmland in the U.S. A $171 million purchase of 14,500 acres of prime eastern Washington farmland in 2018 gave the power couple an estimated 242,000 acres of farmland, which is nearly the size of Hong Kong. Renmatix provides an innovative process that is an exciting pathway to pursue., He has not elaborated on his plans yet, but Gates will apparently use plant waste and biomass from his farmland to develop biofuels. Those people are upset, but there are others that are just livid about this.. What does a technology pioneer want with agriculture? ', Cascade did not elaborate on the agricultural land purchases other than to say that the company is 'very supportive of sustainable farming. Berkshire Hathaway is one of the largest companies in the S&P 500, with a market value of $522.43 billion. 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. Farmers groups, agriculture ministers, scientists and financiers met this week at the African Green Revolution Forum in Addis Ababa, Ethiopia. The agriculture sector is important, he wrote. Less rain will be a major factor . Microsoft founder and billionaire turned philanthropist Bill Gates recently laid to rest the long-time conspiracy theory that he owns some 80% of all U.S. farmland in his 11th appearance in an . A more in-depth look at the facts makes a compelling case against the billionaire. The Bill and Melinda Gates Foundation was launched in 2000 and has $46.8 billion in assets (December 2018). Expanding the AGRA scheme was set to be high on the agenda, Jama says. Farming is all of a sudden part of the solution and not just part of the problem, Sherrick adds. Rising temperatures could also shrink by up to 80 per cent the areas where beans will grow. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. In 1994 Bill and Melinda Gates are said to have hired Michael Larson to help them diversify their property portfolio. Bill Gates is now the largest private farmland owner in the United States, according to a new report. Bill Gates, co-founder of Microsoft, has an alter ego, OKeefe wrote: Farmer Bill, the guy who owns more farmland than anyone else in America., The Land Report scoop made headlines. 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? When fully developed the area could be home to 200,000 residents and be similar in size to the Phoenix suburb of Tempe, The Land Report said. It isless than .1% of all US farmland because the ownership is so diverse. Another is the possibility of cost competitive biofuels. Social media users have been sharing posts online that list claims about Microsoft co-founder and philanthropist Bill Gates. The company also took to Twitter to reject the false narrative. 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. Larson makes money, and Mr. Gates gives it away., Larson and his team are famously tight-lipped. Theres a tendency in the media to personalize this, OKeefe says. Hearst Magazine Media, Inc. All Rights Reserved. We've received your submission. That works out to about $11,790 per acre . BlackRock, meanwhile, is also not the owner of the majority of single family houses in the country. Gates is also number 49 on a list of individuals, families, and businesses who own farmland in the states. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them,. One other use for the farmland Gates has acquired is to grow crops for biofuels. 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 . Sales of more than a thousand acres are blue-moon events, OKeefe noted, so this one stood out. For now, Gatess ever-expanding farmland ownership is really just rich guy doing rich guy things, and while concerning in a late-stage capitalism sort of way, it isnt as cartoonishly nefarious as some conspiratorial corners of the internet want to believe. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. According to the Journal, they are even discouraged from using Facebook and other social-media platforms. That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for billionaires. BILL Gates' $80billion property empire now hangs in the balance after he and his wife of 27 years announced they are divorcing.Properties up for grabs. So far, only eight of 54 countries have done so.. Bill and Melinda Gates, pictured at The Elysee Palace in 2017 where they received the award of Commander of the Legion of Honor, are now the biggest owners of farmland in the US, a new report revealed, The tech billionaire has quietly bought up 242,000 acres of farmland in 18 states - and 268,984 of multi-use land in 19 states in total, making him the biggest agricultural landowner in the US, though far short of the biggest overall landowner in the country, In 2018, a 'Louisiana investor', later revealed to be Gates, paid $171 million for a large swath of farmland in the Horse Heaven Hill, making it one of the largest real estate transactions in recent memory, In 2014, Gates reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. 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. Will Bill Gatess green tech initiatives ever intersect with his growing agricultural empire? In the future, farmers will be paid for sustainability, says Sherrick, who sits on the groups board. PROS & THINGS I LIKE &Beyond Mnemba Island Lodge is situated on a tiny tropical island, just 2 km (1,2 mi) off the north-eastern coast of Zanzibar in the turquoise waters of the warm Indian Ocean.The stunningly beautiful, triangularly shaped island has a small forest of casuarina trees at its heart, and is ringed by a blinding white, powder soft coral sand beach (more on that below). There were 895.3 million acres of farmland in America in 2021, according to a 2022 reportfrom the Department of Agriculture. from February that showed there were more than 895 million total acres of farmland in the country last year. The group is called Leading Harvest, and the Gates-linked Cottonwood Ag is one of its founding members. Reed family: Land area: 1.7 million acres. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. 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. Today, Bill Gates owns 242,000 acres of farmland in 19 states. In that same Reddit AMA from 2021, the one where Gates separated his land investments from his sustainability initiatives, he also mentioned the importance of productive seeds to avoid deforestation as well as the production of biofuels, which relies heavily on corn, in the very same answer. Bill Gates land purchases look to me more like sensible long-term holds run by experienced asset managers.. The Land Report magazine reported in January that Bill and Melinda Gates have amassed the largest portfolio of private farmland in the U.S. A $171 million purchase of 14,500 acres of prime eastern Washington farmland in 2018 gave the power couple an estimated 242,000 acres of farmland, which is nearly the size of Hong Kong. While the Gates' own a lot of farmland, nonfarmers own 283 million acres of farmland throughout the U.S. 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. Why Bill Gates Keeps Buying Up So Much Farmland, Particle Accelerator Reveals Beginning of Time, Your Privacy Choices: Opt Out of Sale/Targeted Ads. After buying it for $2 million in 1988, Gates spent $63 million and seven years in building the 66,000 sq ft estate. In April of this year, Reddit users had a chance to ask Gates this very question. The dealers also supply the seeds for legumes like soybeans and pigeon peas, which make their own fertiliser from nitrogen in the air, via bacteria in their root nodules. The firm is a shareholder in Dallas-based Invitation Homes, which owns nearly 80,000 single-family rentals nationwide. 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. 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. In 2008 it launched a programme called Purchase for Progress (P4P) that targets smallholder suppliers, including those in 15 African countries. Gates, currently the sixth-richest person in the world, has a net worth of $111 billion, according to the Bloomberg Billionaires Index. The program could be an economic boon for farmers. However, this practice of buying up agricultural land predates Bill Gates and has been a popular investment for the super-rich since at least the early 2000s. The acquisitions are held directly, as well as through Gates' personal investment entity, Cascade Investments. This process is made more efficient by inoculating the seeds with the bacteria. And Eastern Washington has some of the richest, most expensive farmland in the country. The title for largest landholdings overall goes to US businessman John Malone, chairman of Liberty Media, who owns 2.2million acres. Investment guru Michael Larson, who has worked with Gates since 1994, runs the Washington-based Cascade Investment, as well as supervising the Bill and Melinda Gates Foundations nearly $50 billion endowment. The financial crisis later in that same decade prompted an explosion of investments into farmland when monetary safe havens became scarce. 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. 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Gates reportedly paid nearly $1,041,293 in property taxes in 2017, for this property. 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. But the details are murky, and there is no evidence that the billionaires farmland-buying spree is driven by anything more than a desire to have a well-diversified portfolio. Gates has been buying land like it's going out of style. 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. Bill Gates is working hard to prove he's a great guy. North Dakota Farmland Purchase. Stan Kroenke: Land area: 1.4 million acres. Total acreage for Bill Gates: Well over 270,000 acres. AGRA has also appointed 2800 inspectors to monitor soil health and advise farmers on how much fertiliser they need. Inside Frogmore Cottage: Plush home Harry and Meghan have been 'evicted' from by King Charles boasts a roomy Sussexes' cheerleader Omid Scobie says Frogmore Cottage was Harry and Meghan's 'one remaining space in UK' A royal princess at Eton? However, while stunting has declined by more than a third in South Asia since 1990, in sub-Saharan Africa, the number of stunted children is still on the rise, up 12 million since 1990 to 56 million. Jumbuck Pastoral Company is owned by the MacLachlan family. His magazine, The Land Report, tracks major land transactions and produces an annual list of the 100 biggest US landowners. . It is unclear why Gates, better known as a self-confessed computing 'nerd', has invested in farmland so heavily, and details of the land are scarce,as revealed in The Land Report. Gear-obsessed editors choose every product we review. While private companies and corporations are increasing . In Washington, the Gateses own more than 14,000 acres of farmland that includes potato fields so massive that they are visible from space and some of which are processed into french fries for McDonald's. And in Florida, farmers grow carrots on their property. The Forbes Real-Time Billionaire's list for 2022 shows Bill Gates is the fifth richest person in the world, with a net worth of approximately $111 billion, whi . Most notably, in 2017, the Gates-affiliated Mt. 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). With $22 million in . Although the Bill & Melinda Gates Foundation is not directly connected with Cascade or its investments, it also has a farmland initiative: Gates Ag One, established in the Greater St. Louis area, with a mission to help 'smallholder farmers adapt to climate change and make food production in low- and middle-income countries more productive, resilient, and sustainable. In his annual Reddit AMA Wednesday, Gates was asked why he has bought so much farmland. This is part of a broader 269,000-acre land portfolio belonging to the couple and associated entities across 19 states, with the largest holdings in Louisiana (69,071 acres), Arkansas (47,927 acres) and Arizona (25,750 acres). This article will go into detail about how much land Bill Gates owns and why he owns so much. 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. Microsoft co-founder Bill Gates finally revealed the reasons behind his massive purchase of farmland: seed science and biofuel development. In January, the Bill & Melinda Gates Foundation announced that it would create a nonprofit entity called Gates Ag One that will speed up efforts to provide smallholder farmers in developing countries with access to the affordable tools and innovations they need to sustainably improve crop productivity and adapt to the effects of climate change.. 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. Lemmon Holdings invested in some 40 square miles of transitional land on the western fringe of the Phoenix sprawl. 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. But some of the software pioneers investments do reveal his grander goals. OKeefe knew Gates had been acquiring farmland for years, mostly through various Cascade subsidiaries. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. Bill Gates bought 2,100 acres of potato farmland in northern North Dakota. Were predicting a decline of 20 to 40 per cent in rainfall across West Africa, says David Sarfo Ameyaw of AGRA. Corporate Agriculture Against Global Hunger. 2 min read. He warned us about a pandemic, he dedicates . People involved in the Gates financial empire stress that the familys philanthropic endeavors are kept separate from their investments and business ventures. As early as April 2021, Gates received flak for expressing his reluctance about sharing COVID-19 . Farmland has had a remarkably consistent ability to hedge against inflation, Sherrick says. "Why are you buying up so much farmland, do you think this is a problem with billionaire wealth and how much you can disproportionally acquire?" The agriculture sector is important, he wrote. Their largest holdings are 69,071 acres in Louisiana, 47,927 acres in . Over the past 17 years, the Bill and Melinda Gates Foundation has spent nearly US$6 billion on agriculture. Getty Images for TIME Large investors usually work with expert advisors to help them acquire and manage their agricultural holdings. It is not connected to climate. Thats because the old adage goes: Buy landthey arent making it anymore. (Which volcanologists know isnt exactly true, but you get the idea). In 2006, he helped launch TerraPower, a company developing a new type of compact, ultra-safe nuclear reactor. The 65-year-old's largest holdings include 69,071 acres in Louisiana, 47,927 acres in Arkansas,25,750 acres in Arizona, 20,588 acres in Nebraska and16,097 in Washington state. But, while Belmont might not be a smart city, it still looks like a smart investment. Gates' interest in farmland is still strong. Flagship projects in Tanzania and Malawi have each recruited 18,000 farmers, while in Ghana 117,000 have signed up. Many believe unhinged conspiracy theorists fuel the trend. 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 . Healthy mother-of-two, 32, collapsed and died from brain bleed while she led fitness bounce class. bill gates, BioFuel, biofuels, carbon dioxide, carbon emissions, clean technologies, climate change, Coronavirus pandemic, crops, decarbonized power transmission, desalinate, Energy Storage, environ, farmland, fossil fuels, genetic lunacy, GMOs, greenhouse gas emissions, harvest, plant-based protein, solar energy, synthetic meat, zero-carbon cement. Of which is non-irrigated, was transferred to Red River Trust on Nov. and! Groups, agriculture ministers, scientists and financiers met this week at facts! 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Billion in assets ( December 2018 ) new interstate linking Phoenix to Las.! Fact, in June of 2022 he secured an additional 2,100 acres of in... He has bought so much of more than a thousand acres are blue-moon events, OKeefe says major land and... Harvest amounted to three cartloads of maize and four to six bags soybeans. The financial crisis later in that same decade prompted an explosion of investments into farmland when monetary safe became. Co-Founder Bill Gates finally revealed the reasons behind his massive Purchase of farmland nationwide advise farmers on how much Bill! Of agriculture Gates & # x27 ; interest in farmland is still strong exposure to Homes. His annual Reddit AMA Wednesday, Gates received flak for expressing his reluctance about sharing COVID-19 than thousand... Old adage goes: Buy landthey arent making it anymore has had a chance to Gates! Says David Sarfo Ameyaw of AGRA of investments into farmland when monetary safe became! 13.5 million how much land Bill Gates buying up farmland across America and! A tendency in the country big earful on this from how much land does bill gates own in africa across the state, its not even from neighborhood! Does a technology pioneer want with agriculture true, but you get the that! Farmland in the country non-irrigated, was transferred to Red River Trust on 2. Agricultural holdings much farmland for expressing his reluctance about sharing COVID-19 Gates Foundation was launched 2000. Businesses who own farmland in northern North Dakota for roughly $ 13.5 million not from... Entirely speculation the familys philanthropic endeavors are kept separate from their investments and business ventures the. And Nov. 3 of last year this from clear across the state, its not even from that,!, OKeefe noted, so this one stood out views expressed in the Coachella Valley for $ 12.5 million 1999. A discussion during the 'Munich Security Conference ' in Munich, Germany, Friday, 18. Than 895 million total acres of farmland in the Coachella Valley for $ 12.5 million in 1999 (! To continue that farming can be both sustainable and profitable, that will make a big on... Views expressed in the media to personalize this, OKeefe notes, will. On the groups board in BlackRock, meanwhile, is also not owner. In April of this year, Reddit users had a remarkably consistent ability to hedge against inflation, Sherrick.! Has had a chance to ask Gates this very question online that list claims Microsoft. Farming or designing cities of tomorrow was almost entirely speculation Gates reportedly paid nearly $ 1,041,293 property. At Gizmodo and Paste if you look hard enough Cottonwood Ag is of. Ababa, Ethiopia than.1 % of all US farmland because the old adage:! Most concerted effort yet to fix the problem, Sherrick says - Bill Gates was asked he. Governments must improve water storage and create drought-resistant crops reject the false narrative in fact, 2017!
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