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. 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. We invest in the farms to raise productivity. It has been very fulfilling for me and is my full time job," Gates continued. In his annual Reddit AMA Wednesday, Gates was asked why he has bought so much farmland. The six-bed Del Mar home, which boasts a ten-person jacuzzi and swimming pool overlooking the ocean, was bought by the couple in late Marchas the international coronavirus pandemic began to take hold. Bill Gates is best-known for cofounding Microsoft, but he's also a major US landowner, having bought 275,000 acres of farmland. Large investors usually work with expert advisors to help them acquire and manage their agricultural holdings. 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. We wont even come close.. 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. When Ted Turner bought his Flying D Ranch in Montana in 1989, that was his personal passion, OKeefe says. 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. 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. This process is made more efficient by inoculating the seeds with the bacteria. 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. But some of the software pioneers investments do reveal his grander goals. 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.. Corporate Agriculture Against Global Hunger. Bill Gates' Mega House - $154 Million. (Related:Why is Bill Gates buying up farmland across America?). Posted by Triple Net Matt July 4, 2022 Posted in commercial real estate Tags: bill gates, commercial broker, commercial real estate, net lease, nnn, STNL. We are no longer accepting comments on this article. Many stories focused on Gates longstanding interest in climate change and sustainability and suggested those concerns might be driving the land purchases. What is the Venus-Jupiter conjunction and how can you view it? The firm is a shareholder in Dallas-based Invitation Homes, which owns nearly 80,000 single-family rentals nationwide. Of course, Bill Gates is one of the world's richest billionaires.Wealth-X, a global high net worth intelligence and data company, estimates his net worth to be at least $134.1 billion. Gates has invested in Impossible Foods and Beyond Meat, two companies producing beef substitutes, including the Impossible Burger. 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 The program could be an economic boon for farmers. 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. As of 2019, around 40 percent of American farmland is rented to tenants, who then operate on it. Over the past three years she has trebled her farms output and increased her income 15-fold (see A life transformed). Here are all the companies owned by Bill Gates in 2022. Gear-obsessed editors choose every product we review. Since 2016, Gates has led Breakthrough Energy Ventures, a venture-capital fund that invests in clean-technology startups. Grinning and bearing it? According to the Journal, they are even discouraged from using Facebook and other social-media platforms. They give farmers more bargaining power and allows them to jointly fund communal assets, such as secure storehouses. AGRA was established in 2006 by the Bill and Melinda Gates Foundation and the Rockefeller Foundation. As early as April 2021, Gates received flak for expressing his reluctance about sharing COVID-19 . Why is Bill Gates buying up farmland across America? Bill Gates helped usher in the digital revolution at Microsoft, and has spent the decades since exploring - and investing in - innovative solutions to some of the world's toughest problems . According to 2021 article from the Land Report, a magazine about land ownership, Gates owns approximately 242,000 . Impossible Foods had seen a huge surge in demandfor its Impossible Burger product that year. The last one in this top 5 of the largest landowners is once again a large Australian farmer. In June 2008, Gates stepped away from the day-to-day management of Microsoft and concentrated on charity. James B. Meigs is the co-host of the How Do We Fix It? podcast and the former editor-in-chief of Popular Mechanics. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Three years ago, the harvest amounted to three cartloads of maize and four to six bags of soybeans. owns the patent of the COVID-19 virus. buying an increasing share of the U.S. housing market. 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 . Instead, he mostly acts like a landlord and allows professional farmers to keep doing their thingeven if those practices are ruinous to the environment. Gates has been buying land like it's going out of style. 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. Less rain will be a major factor . Watch on. People want to know, Why does Bill Gates want all this land?. retail, office buildings, hotels and apartment complexes, rather than single-family homes, but he declined to provide a breakdown. Their largest holdings are 69,071 acres in Louisiana, 47,927 acres in . Gates' farmland now totals 242,000 acres. In his annual Reddit Ask Me Anything session on Wednesday, Gates was asked why he has made all of his farmland purchases. It isless than .1% of all US farmland because the ownership is so diverse. Ive gotten a big earful on this from clear across the state, its not even from that neighborhood, said Goehring. Making farming a business is the way to push African agriculture, says Robert Guei of the FAO in Rome, Italy. For now, though, all that smart city talk is more than a little premature. FILE - Bill Gates attends a discussion during the 'Munich Security Conference' in Munich, Germany, Friday, Feb. 18, 2022. 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. Bill Gates land purchases look to me more like sensible long-term holds run by experienced asset managers.. For comparison, the state of Rhode Island covers an area of 1,214 square miles. Why Bill Gates Keeps Buying Up So Much Farmland, Particle Accelerator Reveals Beginning of Time, Your Privacy Choices: Opt Out of Sale/Targeted Ads. ITS like having a new life, says Lucy Banda, a farmer in Mwambaso village in western Malawi. Dr. Alan Busacca, professor emeritus at Washington State University, told Land Report at the time that the fertile land in the area was used for growing 'apples, cherries, carrots, dryland and irrigated wheat, and row and field crops'. Gates has been asked about his farmland purchases before. The Land Report reference came out in winter 2021, after which controversies circulated about Gates' accumulation of American farmland. The Bill & Melinda Gates Foundation announced an immediate commitment of up to $100 million for coronavirus relief on Wednesday. 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. The first necessity is fertiliser. The nearby community of Buckeye has grown more than tenfold in the last 20 years. Were predicting a decline of 20 to 40 per cent in rainfall across West Africa, says David Sarfo Ameyaw of AGRA. The AGRA project is the most concerted effort yet to fix the problem. However, the land held only amasses 1 percent of the total acres of farmland in the United States. The risk is large. Gates and his wife Melinda own 242,000 acres of farmland in the U.S. How much land does he own? Its soil health programme has set up 9000 dealers within 5 kilometres of farmers to sell them the supplies they need. One major customer for AGRA farmers is the UN World Food Programme (WFP), a famine-relief organisation. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them, BlackRock tweeted. The title for largest landholdings overall goes to US businessman John Malone, chairman of Liberty Media, who owns 2.2million acres. The 65-year-old responded by declaring his . OKeefe knew Gates had been acquiring farmland for years, mostly through various Cascade subsidiaries. They bought and later sold an additional 6,000 acres in Georgia, NBC News found. That can mean better yields with decreased use of fertilizers and pesticides. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. That means Bill Gates owns 378 square miles of the United States. Weve never been one of the big institutional buyers of single family homes, BlackRock said in response to one tweet. .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. 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Late last year, Eric OKeefe was researching a mysterious recent purchase of 14,500 acres of prime Washington state farmland. Investors bought a record 18.4% of the homes purchased in the fourth quarter of 2021 three-quarters of which were single-family homes. The other major problem AGRA is aiming to solve is lack of infrastructure. Last year, her maize output was eight cartloads, while the soybean harvest soared to 37 bags. Larson makes money, and Mr. Gates gives it away., Larson and his team are famously tight-lipped. Gates and his wife own 269,000 acres of farmland. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them,. Earlier this week, North Dakota State Attorney General Drew Wrigley wrote a letter to Red River Trust, care of Headley, notifying it that corporations and limited liability companies were prohibited from owning or leasing farmland or ranchland in the state of North Dakota., Wrigley wrote that these entities were also barred from engaging in farming or ranching.. 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. Gates is not new to the biofuel industry.In 2016, hejoined French oil giant Total in investing $14 million in biofuel specialist Renmatix. The Emmerson family owns and operates Sierra Pacific Industries, a company that logs usable lumber after forest fires and sells it to lumber retailers. Hes the largest landowner in the United States. In fact, in June of 2022 he secured an additional 2,100 acres of farmland in North Dakota for roughly $13.5 million. That proposed superhighway would run across a 5-mile stretch of the Belmont property. Gates responded: "I own less than 1/4000 of the farmland in the US. Renmatix has developed a process that converts plant waste and biomass into sugars that can be converted into biofuels and bio versions of chemicals.The patented Plantrose process uses supercritical water to reduce the costsof converting biomass to cellulosic sugars the critical intermediary for second-generation biochemicals and biofuels. In 1994 Bill and Melinda Gates are said to have hired Michael Larson to help them diversify their property portfolio. Bill Gates and Neo-Feudalism: A Closer Look at Farmer Bill. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. 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. AFRICA. Hearst Magazine Media, Inc. All Rights Reserved. AGRA farms are key suppliers, says Gudmunds. 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. Will Bill Gatess green tech initiatives ever intersect with his growing agricultural empire? They supplement that with any animal manure they have, and compost made from the remains of their previous crops. Climate change is happening, and we must use all best practices to allow farmers to adapt. There will be incentives for things like using less water, fewer chemicals, and storing more carbon. He warned us about a pandemic, he dedicates . The commitment is a ten-fold increase from the foundation's . In this excerpt, Young claims that the founder of Microsoft said that 3 billion people need to be eliminated from earth, starting with Africans: "For the purpose of sterilisation and population control, there are too many people on the planet we need to get rid of. The Prestigious school where Princes William and Harry were educated is EPHRAIM HARDCASTLE: Prince William's potentially awkward visit to homelessness charity. It is 30 kilometres from Mwambaso, the village where she lives to the nearest town, Mchingi. John Malone is the largest private landowner in the United States. BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. 4. And the Belmont property is located along Interstate 10, the regions major east-west artery, making it an excellent location for Amazon-style warehouse complexes. One of the Gates' favorite vacation homes is in the Yellowstone Club in Big Sky, Montana. The 65-year-old's holdings include 16,097 acres in Washington, 20,588 in Nebraska, 25,750 in Arizona . Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. NY Post Gates is said to own nearly 270,000 acres of farmland nationwide. 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. For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. 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. 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. Why does Bill Gates now own more than 240,000 acres across the country? Gates reportedly paid nearly $1,041,293 in property taxes in 2017, for this property. That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for billionaires. 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. . There are more than 85 million single-family homes in the country, and only around 15 million of those are rentals, according to the latest American Housing Survey by the Census Bureau. Jumbuck Pastoral Company: 5.75 million hectares. To effectively address climate change, we need to develop an energy infrastructure that doesnt emit greenhouse gas and is cost competitive. Left to die alone like an animal: Parents who left 23-stone disabled daughter to die in her own filth are Holiday home owners in Scotland face new SNP tax hike under plans from front-runner to be new First Scotland should just self-identify as an independent country, one SNP member proposed. Bill Gates is one of the richest men in the world, but his wealth pales in comparison to that of other billionaires. Bill Gates bought 2,100 acres of potato farmland in northern North Dakota. Flagship projects in Tanzania and Malawi have each recruited 18,000 farmers, while in Ghana 117,000 have signed up. "In terms of the very rich I think they should pay a lot more in taxes and they should give away their wealth over time. Since 2017 he reportedly holds a significant stake in 24,800 acres of land on the west side of Phoenix. 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. Although Gates owns these farms, he isnt changing their practices. If the nations largest farmland owner can show that farming can be both sustainable and profitable, that will make a big difference. The arrangement is simple, The Wall Street Journal wrote in a 2014 profile. But it also means we can devote less of the planets surface to farmland, which is good news for forests and ecosystems. In reality, the idea that Bill Gates was single-handedly reinventing farming or designing cities of tomorrow was almost entirely speculation. After buying it for $2 million in 1988, Gates spent $63 million and seven years in building the 66,000 sq ft estate. 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. While Gates is still the top farmland owner in the U.S., not all of the property he owns is farmland. Farmland in those parts is valuable, commanding prices between $10,000 and $15,000 per acre, far beyond the state average of about $2,000. Nous, Yahoo, faisons partie de la famille de marques Yahoo. The tech mogul, who is the fourth richest person in the world with a net worth of $121billion, according to Forbes, has quietly built up a massive agriculture portfolio. He added: 'In addition, the states oldest winery, Chateau Ste. An entity with ties to billionaire Bill Gates bought 2,100 acres of potato farmland in northern North Dakota prompting the states top prosecutor to intervene after complaints from local residents. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. 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. The outlet reported this week that Gates, 65, owns 268,984 acres of land . By the end of this century there will be 4 billion more people on Earth - and 3 billion of these extra souls . 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. The Gates' portfolio of farmland covers 18 states. 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. We may earn commission if you buy from a link. The billionaire cant seem to do anything without drawing the conspiratorial ire of online netizens. The Bill and Melinda Gates Foundation was launched in 2000 and has $46.8 billion in assets (December 2018). Most of us imagine farmers tilling the soil that has been in their families for generations. Amazing, if truebut its extremely not. 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. 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? as well as other partner offers and accept our. 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. 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