Additionally, because the farmers don't have access to state-of-the-art agriculture tools or technology, they never maximize yield potential. Bill Gates reveals reasons behind massive farmland purchases Seed technology is the process of using technology, updated farming methods, and genetically modified seeds to optimize yield potential; maximize yield potential in less-than-ideal farming conditions; and make farming practices infinitely more cost-efficient.. Cascade employees almost never speak to the press. In 2017, Cascade Investment bought a significant stake in 24,800 acres of transitional land on the western edge of Phoenix, the most populous city in Arizona and the tenth-largest metropolitan area in the country. It aims to help poor farmers, especially in Africa and South Asia, get the tools, technologies, and resources they need to lift themselves out of poverty. If each acre can produce more food, thats good news for farmers. Lemmon Holdings invested in some 40 square miles of transitional land on the western fringe of the Phoenix sprawl. The landowners can include investors like Gates. What special interest does Bill Gates have in farmland? In January 2021, Bill Gates became the largest owner of farmland in the United States. Large investors usually work with expert advisors to help them acquire and manage their agricultural holdings. Given the size and cost of 100 Circles, both of those figures made no sense at all. What Asset Class Is Farmland Considered To Be? Leon Neal/Getty Images. In January this year, the Bill & Melinda Gates Foundation announced that its creating a nonprofit entity called Gates Ag One which will seek to speed up efforts to provide smallholder farmers in developing countries, many of whom are women, with access to the affordable tools and innovations they need to sustainably improve crop productivity and adapt to the effects of climate change.. As more investors look to buy land, those who got in earlier are poised to benefit from the appreciation of the land value. The billionaire tech mogul and philanthropist has quietly amassed nearly 270,000 acres of farmland across the country, but that's still a relatively small slice of the nation's nearly 900 million total farm acres. Gates' achievement, according to the report, is that he's largest private owner of farmland in the US. According to a 2014 profile of Larson in the Wall Street Journal, these investments include a substantial stake in AutoNation, hospitality interests such as the Charles Hotel in Cambridge and the Four Seasons in San Francisco, and at least 100,000 acres of farmland in California, Illinois, Iowa, Louisiana, and other states . According to the Land Report 100 Research Team, that figure is currently more than twice that amount, which means Bill Gates, cofounder of Microsoft, has an alter ego: Farmer Bill, the guy who owns more farmland than anyone else in America. Farmland investments overseen by Cascade are completely unrelated to the Foundations programs or efforts to advance agricultural development in Africa or anyplace else in the world.. By divesting his personal wealth from his own thriving tech company, and diversifying into myriads of other non-tech based businesses, he was not only exceptionally protected against the tech crash of 2000, but made out like a bandit. In 1994, Bill Gates opened up his family office, Cascade Investment LLC, with trusted wealth manager Michael Larson. Gates, a well-known philanthropist concerned with food insecurity in developing nations, could be betting that the next advancements in seed technology will be furthered on American farms. Why is Bill Gates buying up US farmland? - DW - 04/09/2021 Bill Gates currently owns over 268,000 acres of American farmland spread out over 19 states. In 1998, when he was the toast of Wall Street, the telecom cowboy paid British Columbias Woodward family the astronomical sum of $73 million for Canadas largest ranch: 500,000-acre Douglas Lake, a 22,000-head cattle operation. Click here to view current offerings on AcreTrader! 1,539.24 acres of farmland in Champaign County for at least $16,959,677 between 2015 and 2019. Theres a tendency in the media to personalize this, OKeefe says. Gates was also asked which niche technology he believed could play a significant role in the battle against climate change. It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions.. The soil profile and underlying silty loess are in a league of their own. Most notably, in 2017, the Gates-affiliated Mt. Thanks for contacting us. Bill Gates is an American technology pioneer. The billionaire couple, in less than a. That was the missing piece of the puzzle I had been searching for as I read the Tri-City Herald story. 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. The investments from both parties had locals raise their concerns to North Dakota Agriculture Commissioner Doug Goehring on a July 6 in a town meeting. While Microsoft took a major hit in the tech crash of 2000, Bill Gates portfolio with Cascade would gain around 40% return in that same year. One of my favorite Clint Eastwood movies is the 1999 mystery/thriller True Crime. Not surprisingly, one of Leading Harvests other inaugural members is a Cascade entity called Cottonwood Ag Management. The Americas Editor at Agri Investor, Janiec reported that the assets had been offered as a single block and that Microsoft founder Bill Gates is thought to be the buyer of CPPIBs farmland. Janiec stayed on the story, and the following year, he confirmed the parameters of sale when he reported the addition of 61 properties valued at approximately $500 million to the National Council of Real Estate Investment Fiduciaries (NCREIF) U.S. Is Farmland Partners (FPI) A Good Investment? So, if farmers do not improve farming methods, local communities suffer. Stay up to date with what you want to know. The small LLC had $171 million . With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. I scanned the headline for the umpteenth time and then read and reread the pertinent details. Cascade Investment doubled down on Phoenix transitional land two years later when it made a second major investment by acquiring more than 2,800 acres known as Spurlock Ranch in Buckeye for $25 million. In addition, over 250,000 farms are so-called factory farms owned, rented, or co-opted by corporations. After losing his appeal in 2006, Ebbers spent most of the rest of his life in a federal prison before being granted compassionate release by a federal judge earlier this year. Bill Gates' 20,000 acres in Nebraska help make him the top farmland The problem is that it is expensive to desalinate it and move it to where it is needed, Gates wrote. (Although our researchers identified dozens of different entities that own the Gateses assets, Larson himself operates primarily through an entity called Cascade Investment LLC.). 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. At current valuations, its one of the nations best farmland opportunities. Neither of these are a perfect option. Bill Gates owns about 400 acres of farmland outside of Malmo, Nebraska, that he rents to a local farmer. That makes Invitation Homes the largest operator of single-family rental homes in the country, but still represents a tiny fraction of all such homes. Future crops may be designed to grow better in droughts, heatwaves and withstand disease. And the Bill and Melinda Gates Foundation recently launched a new division known as Gates Ag One. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. LITTLE ROCK, Ark. By using this website, you accept our Terms of Use and Privacy Policy. A $13.5 million purchase of a North Dakota potato farm is drawing outrage and legal scrutiny. Jeff Bezos is 25th and owns about 420,000 acres of farmland. Contact Land Income today! US generated 91m tons of surplus food in 2021, representing 6% of all GHG emissions. That means Gates, whose net worth is estimated at some $134 billion. Senior Airman Dakota C. LeGrand/U.S. Bill Gates is about to change the way America farms The cofounder of Microsoft and his wife make an auspicious debut on the 2020 LAND REPORT 100, as America's largest private farmland owners. He assigned his research team to dig a little deeper. However, Bill Gates investing in farmland may encourage others to begin viewing farmland as smart investing opportunities. Dusky layers of silt and sand towered over the 6-foot-tall retired Washington State professor. North Dakota AG Clears Farmland Purchase Tied to Bill Gates - US News Farmland as an investment offers low volatility. There was no public announcement, and no notice in the business press. In the past 20 years, the foundation has grown to hold over $48 billion. The new green economy will mean new opportunities for land owners, OKeefe believes. One main benefit to alt assets especially for those whore heavily invested in the stock market is, another scenario where more traditional assets like stocks and, Also, because youre investing in the land itself, your investment not only is quite resistant to depreciation, but also provides some, Theres a lot of little benefits that stack up when talking about farmland, but the biggest is likely the fact that, American farmland produces a lot of exports, exposing you to political risks, Its a little harder to break into farmland than other assets, though this is changing, In the same way you can invest into ETFs (Exchange Traded Funds) in the stock market, there exist similar products for farmland called, Bill and Melinda released their latest initiative, , While the global climate change initiative is trying to reduce total emissions by the year 2050, the year 2030 is also important. Bill Gates is America's biggest owner of private farmland, and his 242,000 acres could be split in his divorce. 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. At buildout, the Belmont development will create a brand-new metropolis, one similar in size to the Phoenix suburb of Tempe, home to Arizona State University and almost 200,000 residents. Pessimistic conspiracy theories abound, but Bill Gates, America's largest farmland owner, is born from non-salacious and pragmatic reasons. The very next year, however, the Canada Pension Plan Investment Board began shedding these very same farmland assets as quickly as it had acquired them. All https://www.barchart.com/solutions/ is provided by Barchart Solutions. Meanwhile, Chinese owners currently control more than 192,000 agricultural acres in the US, worth $1.9 billion, including land used for farming, ranching and forestry, the Agriculture Department told Politico last year. The day before he went to prison, Ebbers sold Angelina for $32 million. Based on Bill Gates budding friendship with Warren Buffett, Cascade adopted much of Buffets approach to investing: invest in good companies, and hold long term to see healthy returns. 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. In a 2020 blog post, he wrote, "The rich should pay more than they currently do, and that includes Melinda and me.". However, the Gates Foundation has been largely transparent at every level of their operations from their objectives, means, successes, and failures. The $68.5 million that Kroenke Ranches paid was applied to Ebberss IOU. 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 . Once upon a time, the business press dubbed the colorful entrepreneur the telecom cowboy. That was before the Edmonton native was put on trial for his role in what was, at the time, the largest corporate bankruptcy filing in U.S. history. In addition to farmland, the Gates' portfolio includes numerous public investments, the Gates Foundation, a major stake in the Four Seasons Hotel, and much more. Contact Land Income today! Does Bill Gates Own the Majority of US Farmland? | Snopes.com afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. Gates Foundation Buys Land For Farms | PYMNTS.com When it comes to alternative assets, there are a few options investors can look at such as real estate, fine art, foreign stocks, cryptocurrencies, even NFTs (verdict still out on them). Some partners in the Arizona project issued a press release touting plans to build a forward-thinking community that embraces cutting-edge technology. There was talk of high-speed digital networks and autonomous logistics hubs. That was all it took for many in the media to conclude that Gates was personally engineering the city of the future. Gate's private American farmlands are worth an estimated $690 million.. With the Washington state acreage and other recent additions to his portfolio, OKeefe calculated, Gates now owns at least 242,000 acres of American farmland. 2023 Meredith Corporation. In their Big Bet, they recognize that the impoverished people stand to be impacted the most by these changes. 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 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 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. So I took a look at Dun & Bradstreet. 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. The Gates Foundation has focused their efforts on alleviating the aftermaths of climate change since its founding. Going forward, in line with the spirit of Leading Harvest, Cascade plans to continue to evaluate and implement new initiatives that will improve the overall sustainability of its farmland portfolio, the spokesperson revealed. And the average size of a farm is about 444 acres., The typical family-owned farm makes about $69,000 in profits annually., However, due to climate change, international political tensions, tariff wars and changing consumer diets, family-run farms have struggled to profit. The agriculture sector is important. The groups founding members are expected to spearhead the rollout of the new standards on their own lands. He hopes plant-based substitutes will allow us to cut down on meat eating while still enjoying the taste of meat.. Purchasing your own farm outright means that you are not diversified across many farms; just 1. It seems like Gates is getting ahead of the curve, relative to future Agri-Tech advances profitability, with his farmland investments. 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. The firm is a shareholder in Dallas-based Invitation Homes, which owns nearly 80,000 single-family rentals nationwide. Join the conversation now on LinkedIn or Twitter, or email me at [emailprotected], Foodtech exits continue to lag, but there is cause for optimism, Bell & Evans teams with Cargill, Rodale Institute to transition 50,000 farm acres to organic. Since his divorce, it is unclear how the assets were split up between the couple. 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. Farms also have a role in fighting climate change. the latest American Housing Survey by the Census Bureau. We invest in the farms to raise productivity. Cows may be given miracle vaccines to help them produce higher quality milk and meat. Over time, Gates sold personal stock in Microsoft and reinvested it through Cascade Investment. 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 story has been shared 240,292 times. In North Dakota, the Pembina and Walsh County farmland purchased by Red River Trust in 2021 is leased to the Campbell family which has a long history of operating these Pembina and Walsh County farmlands, which has continued under the ownership of Red River Trust.. However, the development and implementation of new technologies to withdraw fossil fuels hidden deep in the earth are currently financially impractical. He is also the fourth richest man on planet Earth with a net worth of $125 billion. A spokesperson for Cascade Investment a firm chaired and controlled by Bill Gates, and possibly what he was referring to as my investment group on Reddit declined to comment on specific land holdings at the time. For example, seeds are being genetically designed to grow in near non-arable and hostile soil conditions.. Over time, Gates sold personal stock in Microsoft and. 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. Janiecs sources said some of the AgCoA assets were quickly sold off, but according to the Land Report 100 Research Team, an estimated 242,000 acres of farmland remained. And they barely produce enough crops for food or profit. Farmland Riches, LLC and the owners may have investments in companies represented on the AcreTrader platform. For more information read our Risk Statement click here. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. All investments involve risk and may result in loss. The plant-based protein craze will be worth $23.4 billion by 2027. In fact, in June of 2022 he secured an additional 2,100 acres of farmland in North Dakota for roughly $13.5 million. According to some scientific estimates, there may be only 1.7 trillion barrels of oil in the world today. Its the first time Gates has publicly commented on land purchases made by entities associated with him and his wife Melinda since they were named as the top private owners of US farmland by acreage earlier this year. Why Bill Gates is now the US' biggest farmland owner - New York Post
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