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Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. NOW WATCH: Bill Gates has a net worth of over $96 billion here's how he makes and spends his money, his close friend and Berkshire Hathaway CEO, Warren Buffett, he'll sell what he owns as money goes towards the foundation. Amazing, if truebut its extremely not. BlackRock also does not own the majority of the countrys 80 million single-family homes. Thanks to the dealers, AGRA farmers now use 10 to 50 kilograms of fertiliser per hectare, and though this is just a tenth to a quarter of what farmers use in rich countries, it is still a big improvement. He now owns more farmland than my entire Native American nation Watch on. Her new house is made of brick and has a tin roof and two bedrooms. 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). So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. It is 30 kilometres from Mwambaso, the village where she lives to the nearest town, Mchingi. Im hoping to lay a concrete floor soon, she says. In six years that number has more than doubled. Another notable acquisition was Cascade's $170 million purchase of 14,500 acres of farmland in Washington state from John Hancock Life Insurance in 2018. 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. BlackRock also suggested it was being confused for the similarly-named investment management firm Blackstone, which until recently owned Invitation Homes. In 1994 Bill and Melinda Gates are said to have hired Michael Larson to help them diversify their property portfolio. The billionaire is one of the founders of the Giving Pledge, which asks the world's wealthiest people to give away most of their fortunes to charitable causes. North Dakota Farmland Purchase. The farmland that Gates owns is located in 19 states. ', Cascade did not elaborate on the agricultural land purchases other than to say that the company is 'very supportive of sustainable farming. Malone's 2.2 million acres are largely located in Maine, New Mexico, Colorado, and Wyoming and include profitable cattle ranches. However, the land held only amasses 1 percent of the total acres of farmland in the United States. 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. . The company also took to Twitter to reject the false narrative. It was the highest priced land sale in the US that year. While Gates is still the top farmland owner in the U.S., not all of the property he owns is farmland. 5. By the end of this century there will be 4 billion more people on Earth - and 3 billion of these extra souls . Jumbuck Pastoral Company is owned by the MacLachlan family. We invest in the farms to raise productivity. She is thinking of buying land to build a house for renting, and a truck to allow her to trade her merchandise more widely. For now, though, all that smart city talk is more than a little premature. If the nations largest farmland owner can show that farming can be both sustainable and profitable, that will make a big difference. Making farming a business is the way to push African agriculture, says Robert Guei of the FAO in Rome, Italy. The . While private companies and corporations are increasing . New Scientist went to press before the meeting finished. The AGRA project is the most concerted effort yet to fix the problem. The couples acquired farmlandisowned through a private investment company Cascade Investment.This company also owns shares in plant-based protein companies Beyond Meat and Impossible Foods, as well as agricultural equipment maker John Deere. Mr. 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. In addition, he owns 25,750 acres of transitional land and 1,234 acres of recreational land for total land holdings of 268,984 . Get the world's best independent media newsletter delivered straight to your inbox. False. In the Reddit AMA, he also said he'll sell what he owns as money goes towards the foundation. (Through a spokesperson, the company declined to comment for this article.). That works out to about $11,790 per acre . This isn't the first time Gates has called for higher taxes on the wealthy. Less rain will be a major factor . After buying it for $2 million in 1988, Gates spent $63 million and seven years in building the 66,000 sq ft estate. . Impossible Foods makes plant-based protein that can be fashioned into burgers. Microsoft co-founder Bill Gates finally revealed the reasons behind his massive purchase of farmland: seed science and biofuel development. Almost 300,000 acres is a lot of land for one family or private individual to own, but it's still just a small part of the estimated 911 million acres of farmland in the US. She has also joined a local farmers cooperative, arranged by AGRA, which hosted demonstrations of the new techniques. Meanwhile, American agriculture today is being transformed as farmers employ new technologies and Big Data to help them manage their crops. The massive land grab by Gates last year gave the tech magnate his first appearance on The Land Report, a magazine that "provides news, information, and . That immediately set off alarm bells, OKeefe says. owns the patent of the COVID-19 virus. ; That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for . Jumbuck Pastoral Company: 5.75 million hectares. Forty percent of all children in sub-Saharan Africa are stunted. Many stories focused on Gates longstanding interest in climate change and sustainability and suggested those concerns might be driving the land purchases. And thats where the land purchases come in. It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions.. How much land does he own? Some experts have pointed to Gatess well-known sustainability and green tech initiatives as a possible reason, but during an earlier Reddit AMA in 2021, Gates said, my investment group chose to do this. Behind Gates in terms of investment in farmland are the cofounders of the Wonderful Company, Stewart and Lynda Resnick, with 190,000 acres. Instead, he mostly acts like a landlord and allows professional farmers to keep doing their thingeven if those practices are ruinous to the environment. Bill Gates is the largest owner of land in America and there's a food crisis.. Bill Gates is the largest investor in renewables and there's a oil shortage.. Pelham (@Resist_05) April 18, 2022 Sales of more than a thousand acres are blue-moon events, OKeefe noted, so this one stood out. 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. 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? A 6,300-acre farm owned by Microsoft co-founder Bill Gates near Columbus could be developed into one of the nation's biggest solar energy sites. But many farmers lease at least some of the land they cultivate. One of the more colorful theories pertains to Gatess strange interest in U.S. agriculture, with rumors that the former Microsoft CEO owns upward of 80 percent of farmland in the United States. So AGRA is putting farmers in touch with everyone from financiers who offer microcredit to agents who buy produce for sale elsewhere. For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. The couple also snapped up an oceanfront home in San Diego County, California, last year, for a record making $43 million. 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. In his Reddit AMA last year, one user said, "What do you plan to do with all the farmland you have purchased? 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. 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. a Reddit user asked. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. Today, the Belmont tract remains mostly empty desert. Hearst Magazine Media, Inc. All Rights Reserved. Climate change is happening, and we must use all best practices to allow farmers to adapt. The land, most of which is non-irrigated, was transferred to Red River Trust on Nov. 2 and Nov. 3 of last year. He hopes plant-based substitutes will allow us to cut down on meat eating while still enjoying the taste of meat.. 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. There isn't some grand scheme involved - in fact all these decisions are made by a professional investment team.". The family's 1.7 million acres of land are primarily spread across Washington, Oregon, and California. In 2014, he reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. People are going to pay attention to what Bill is doing, Sherrick says. That means Gates, whose net worth is estimated at some $134 billion according to Forbes annual ranking of the richest people in the country, owns less than one percent of the nations total farmland. The financial crisis later in that same decade prompted an explosion of investments into farmland when monetary safe havens became scarce. Who knows. Learn more about fact-checking at AP. Expanding the AGRA scheme was set to be high on the agenda, Jama says. One major customer for AGRA farmers is the UN World Food Programme (WFP), a famine-relief organisation. That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for billionaires. What is the Venus-Jupiter conjunction and how can you view it? In his annual Reddit AMA Wednesday, Gates was asked why he has bought so much farmland. Kroenke is married to Ann Walkton Kroenke, an heiress to the Wal-Mart fortune. So why does Bill Gates, and other billionaires like him, keep buying up so much farmland? ITS like having a new life, says Lucy Banda, a farmer in Mwambaso village in western Malawi. Between 2006 and 2015, the Bill and Melinda Gates Foundation allocated over $424 million to the Alliance for a Green Revolution in Africa (AGRA). Healthy mother-of-two, 32, collapsed and died from brain bleed while she led fitness bounce class. And yet, he can't seem to wrestle free of the internet's villainous conspiracies against him. NY Post Gates is said to own nearly 270,000 acres of farmland nationwide. U.S. Census Bureau data shows fewer than 20% of such properties are rentals, and the vast majority of those are owned by individual investors, not institutional investors like BlackRock. In emails, BlackRock spokesman Christopher Beattie told The Associated Press that the firm. Gates owns over 242,000 . His portfolio is diversified, in other words. The region west of Phoenix is booming. As of 2020, industry reports show he owned about 0.027% of U.S. farmland. The Emmerson family owns and operates Sierra Pacific Industries, a company that logs usable lumber after forest fires and sells it to lumber retailers. Our office needs to confirm how your company uses this land and whether this use meets any of the statutory exceptions, such as the business purpose exception, so that we may close this case and file it in our inactive files, the letter says. 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. 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. Why is Bill Gates buying up farmland across America? Much of Turner's land is used as grazing land for over 50,000 head of buffalo the largest private herd of bison in the world. But a Gates spokesperson said in a statement on Friday that the claim that hes bought the majority of the nations farmland is false, pointing to a U.S. Department of Agriculture report from February that showed there were more than 895 million total acres of farmland in the country last year. 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. 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 of the Land Report 100, an annual survey of the nations largest 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. Kids in England had to wear masks at school because No10 'didn't want an argument' with Nicola Sturgeon - Health ministers knew there was no evidence to justify making kids abide by rule of 6 - but No10 'didn't Sunak bustled like a wide-eyed labrador, his tail waggier than a windscreen wiper in a downpour: HENRY Bill Gates: America's Top Farmland Owner | The Land Report, Do not sell or share my personal information. According to Bruce Sherrick, a professor of agricultural economics at the University of Illinois at Urbana-Champaign, about 60 percent of row-crop farmland in the Midwest is leased. Here are all the companies owned by Bill Gates in 2022. Total acreage for Bill Gates: Well over 270,000 acres. Late last year, Eric OKeefe was researching a mysterious recent purchase of 14,500 acres of prime Washington state farmland. In fact, he reportedly owns more farmland than any other individual in America. You cant just say, Ive got $30,000 saved up and I want to buy some farmland, Sherrick notes. It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions., According to the North Dakota Corporate or Limited Liability Company Farming Law, there are certain exceptions, such as permitting registered family farms or allowing the use of the land for business purposes., Wrigleys office said it had come to our attention that Red River Trust may have acquired land for farming or ranching in Pembina County on Nov. 4, 2021.. Although Gates owns these farms, he isnt changing their practices. That makes Invitation Homes the, largest operator of single-family rental homes in the country, but still represents, BlackRock also suggested it was being confused for the similarly-named i. nvestment management firm Blackstone, which until recently owned Invitation Homes. And Eastern Washington has some of the richest, most expensive farmland in the country. "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?" How fitting! Most notably, in 2017, the Gates-affiliated Mt. 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. Newsweek called him a sustainable agriculture champion., Those stories dovetailed with earlier reports about Gates large land acquisitions in Arizona. The nearby community of Buckeye has grown more than tenfold in the last 20 years. That removes a major way for actual farm operators to . Last year, Cascade Investment made a second major investment in Arizona by acquiring more than 2,800 acres known as Spurlock Ranch in Buckeye for $25 million, that could be built out to include 8,500 homes. 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. Bill Gates does not own the majority of U.S. farmland. Farmland has had a remarkably consistent ability to hedge against inflation, Sherrick says. Deploying high-yield . The new green economy will mean new opportunities for land owners, OKeefe believes. This process is made more efficient by inoculating the seeds with the bacteria. by Harvard Universitys Joint Center for Housing Studies. 2023 NYP Holdings, Inc. All Rights Reserved, BillGatesbuys nearly $1B Heineken stake despite not being a big beer drinker, Bill Gates daughter living in $51M NYC home as she welcomes first baby, Elites want to use AI to censor political opponents, Bill Gates claims his private jet habit not part of the climate problem. The Land Report reference came out in winter 2021, after which controversies circulated about Gates' accumulation of American farmland. By clicking Sign up, you agree to receive marketing emails from Insider He has very competent investment managers.. Gates and his wife paid almost $171 million for 14,500 acres of farmland in the Horse Heaven Hills of Benton County, Wash., according to The Land Report. A corporation or LLC found in violation of the law has up to a year to divest itself fromt he land or face a penalty up to $100,000, according to the letter. The post says . (According to The Land Report, Gates owns about 27,000 acres of non-agricultural land, in addition to his farm holdings.). The outlet reported this week that Gates, 65, owns 268,984 acres of land . We already buy 80 per cent of our produce from developing countries, but those that bid for the contracts are usually the larger companies and farms, says Ahnna Gudmunds, the schemes advocacy officer. Were connecting [smallholders] to the entire business chain, says Jama. Three years ago, the harvest amounted to three cartloads of maize and four to six bags of soybeans. For comparison, the state of Rhode Island covers an area of 1,214 square miles. The largest parcel, a proposed 24,800-acre development known as Belmont, might someday contain 80,000 homes, along with offices, retail, industrial and logistics facilities. One answer might surprise you: While trying to track down who recently purchased 14,500 acres of choice farmland in Washington state's Columbia River Basin, researchers at The Land Report discovered the new owner was Microsoft co-founder Bill Gates. John Malone is the largest private landowner in the United States. That proposed superhighway would run across a 5-mile stretch of the Belmont property. Malone made his fortune as a media tycoon, building the company Tele-Communications, Inc, or TCI, and acting as its CEO before selling it to AT&T for $50 billion in 1999. With the Washington state acreage and other recent additions to his portfolio, O'Keefe calculated, Gates now owns at least 242,000 acres of American farmland. Bill Gates has started laying out his plans for creating a smart city in Phoenix, Arizona, science-news outlet Futurism wrote. 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. In the words of Bill Gates, 3 billion people need to die. He said he did so to make the farms "more productive" and "create more jobs," adding that it was his investment team that made the decision. Since 2017 he reportedly holds a significant stake in 24,800 acres of land on the west side of Phoenix. Gates' interest in farmland is still strong. The groups founding members are expected to spearhead the rollout of the new standards on their own lands. His magazine, The Land Report, tracks major land transactions and produces an annual list of the 100 biggest US landowners. 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. With proper techniques, the carbon from decaying plant matter can be kept safely in the soil, rather than entering the atmosphere in the form of carbon dioxide. The group is called Leading Harvest, and the Gates-linked Cottonwood Ag is one of its founding members. As early as April 2021, Gates received flak for expressing his reluctance about sharing COVID-19 . 4. If those properties were grouped together and placed on a list of the world's countries by land area, it would fall within the top 50, higher than both France and Spain. Diversify their property portfolio smallholders ] to the land Report reference came in. 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