But, Gates may not be the largest private-farmland owner for much longer. AGRAs aim, helping small farmers become professional, is backed by the United Nations Food and Agriculture Organization. Three-quarters of them live in South Asia and sub-Saharan Africa. 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. , said his investment group was behind the purchases, and suggested it was linked to seed and biofuel development. 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 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.. 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. Those people are upset, but there are others that are just livid about this.. Flagship projects in Tanzania and Malawi have each recruited 18,000 farmers, while in Ghana 117,000 have signed up. And it tends to be negatively correlated against other investments, he adds: If the stock market is going down, the return on farmland is likely to be going up. Although Gates owns these farms, he isnt changing their practices. FILE - Bill Gates attends a discussion during the 'Munich Security Conference' in Munich, Germany, Friday, Feb. 18, 2022. 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. Last year, her maize output was eight cartloads, while the soybean harvest soared to 37 bags. But some of the software pioneers investments do reveal his grander goals. The vision is to produce more efficiently, but to be aware that climate change is happening, and that we must use all best practices to allow farmers to adapt, says Guei. Farming is all of a sudden part of the solution and not just part of the problem, Sherrick adds. Most notably, in 2017, the Gates-affiliated Mt. In addition, the law places certain limitations on the ability of trusts to own farmland or ranchland, the letter said. 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, Gates longstanding interest in climate change. With $22 million in . "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. Gates is not new to the biofuel industry.In 2016, hejoined French oil giant Total in investing $14 million in biofuel specialist Renmatix. 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. 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. Amazing, if truebut its extremely not. Couple find note in chimney that reveals their 290,000 house was 100 times cheaper 50 years ago. 5. The Gates Foundation's trust invests in the same companies it serves through its development programs, including Monsanto, BASF, Coca Cola, PepsiCo, Unilever, and many others. 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. BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. Meanwhile, American agriculture today is being transformed as farmers employ new technologies and Big Data to help them manage their crops. 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). The Emmerson family owns and operates Sierra Pacific Industries, a company that logs usable lumber after forest fires and sells it to lumber retailers. 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 bought 2,100 acres of potato farmland in northern North Dakota. Last year, Gates vowed to give away "virtually all" of his fortune to the philanthropic foundation he runs with French Gates. Their largest holdings are 69,071 acres in Louisiana, 47,927 acres in . 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. Stan Kroenke: Land area: 1.4 million acres. But it also means we can devote less of the planets surface to farmland, which is good news for forests and ecosystems. Here are all the companies owned by Bill Gates in 2022. 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. Though it's only a sliver of the nation's 900 million agricultural acres, Gates' trust gobbled up property in . 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 entity shares the same address as Campbell Farms. Follow Technocrats.newsfor more news and information related to Bill Gates and other big tech personalities. Farmland has had a remarkably consistent ability to hedge against inflation, Sherrick says. According to public records, the billionaires portfolio includes shares in Warren Buffetts Berkshire Hathaway conglomerate, a Coca-Cola bottling company, and the tractor manufacturer Deere & Co., among other non-flashy investments. by Harvard Universitys Joint Center for Housing Studies. 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. 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. He created the pledge in 2010 with his then-wife, Melinda French Gates, and his close friend and Berkshire Hathaway CEO, Warren Buffett. 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. Cascade employees almost never speak to the press. AGRA was set up in 2006 by the Bill and Melinda Gates Foundation and the Rockefeller Foundation. 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. A 2014 Wall Street Journal profile of Larson, Cascade's chief investment officer, hinted at the beginning of that portfolio, after the piece noted that the firm owns 'at least 100,000 acres of farmland in California, Illinois, Iowa, Louisiana and other states or an area seven times bigger than Manhattan.'. The agriculture sector is important, he wrote. From these initial three countries, the programme has expanded to 18. As the Land Report notes, 24,800 acres of the land is transitional, located on the western edge of Phoenix, the tenth-largest metropolitan area in the country, and the most populous city in Arizona. The other major problem AGRA is aiming to solve is lack of infrastructure. People involved in the Gates financial empire stress that the familys philanthropic endeavors are kept separate from their investments and business ventures. 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). With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. Many stories focused on Gates longstanding interest in climate change and sustainability and suggested those concerns might be driving the land purchases. For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. Bill Gates does not own the majority of U.S. farmland. 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. 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. 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. It was previously owned by Agriculture Company of America, a real estate investment trust acquired by CPPIB in 2013. That means Gates, whose net worth is estimated at some $134 billion. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. retail, office buildings, hotels and apartment complexes, rather than single-family homes, but he declined to provide a breakdown. 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'. Today, Bill Gates owns 242,000 acres of farmland in 19 states. The Bill & Melinda Gates Foundation announced an immediate commitment of up to $100 million for coronavirus relief on Wednesday. Behind Gates in terms of investment in farmland are the cofounders of the Wonderful Company, Stewart and Lynda Resnick, with 190,000 acres. Berkshire Hathaway, Inc., Waste Management, Inc., Canadian National Railway Company, Caterpillar Inc., Walmart Inc., Four Seasons Hotel and Resorts & more are the companies owned by Bill Gates. Getty Images for TIME That proposed superhighway would run across a 5-mile stretch of the Belmont property. According to the Journal, they are even discouraged from using Facebook and other social-media platforms. You can find his previous stuff at Gizmodo and Paste if you look hard enough. The tech mogul, who is the fourth richest person in the world with a . Weve never been one of the big institutional buyers of single family homes, BlackRock said in response to one tweet. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. 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Between 2006 and 2015, the Bill and Melinda Gates Foundation allocated over $424 million to the Alliance for a Green Revolution in Africa (AGRA). 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. 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. Wonderful Company cofounders Stewart and Lynda Resnick (net worth: $7.1 billion) ranked number three . Through Sierra Pacific, the family owns some 2 million acres in California and Washington. Slectionnez Grer les paramtres pour grer vos prfrences. Since it works as an investment for him, it also includes the benefits of using land as an . But many farmers lease at least some of the land they cultivate. Gates . Malone's 2.2 million acres are largely located in Maine, New Mexico, Colorado, and Wyoming and include profitable cattle ranches. Working closely with the World Health . The tech billionaire, 65, owns 242,000 acres of agricultural land in 18 states His largest holdings are in Louisiana, Arkansas, Arizona and Nebraska; Gates owns total of 268,984 acres of land of . One other use for the farmland Gates has acquired is to grow crops for biofuels. Impossible Foods makes plant-based protein that can be fashioned into burgers. Berkshire Hathaway is one of the largest companies in the S&P 500, with a market value of $522.43 billion. Sign up for notifications from Insider! The 65-year-old responded by declaring his . At least thats what the developers partnered with Gates investment group have promised. Gates is also number 49 on a list of individuals, families, and businesses who own farmland in the states. How much land does he own? As of 2020, industry reports show he owned about 0.027% of U.S. farmland. 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. Jumbuck Pastoral Company: 5.75 million hectares. Lemmon Holdings invested in some 40 square miles of transitional land on the western fringe of the Phoenix sprawl. According to Mother Jones, the average price of farmland increased six times from 1940 to 2015, and the trend is likely to continue as the amount of arable land in the U.S. continues to shrink from climate-related pressures. 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). 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. Deploying high-yield . Total acreage for Bill Gates: Well over 270,000 acres. Bill Gates land purchases look to me more like sensible long-term holds run by experienced asset managers.. Will Bill Gatess green tech initiatives ever intersect with his growing agricultural empire? As early as April 2021, Gates received flak for expressing his reluctance about sharing COVID-19 . For their part, governments must improve water storage and create drought-resistant crops. Impossible Foods had seen a huge surge in demandfor its Impossible Burger product that year. 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 WFP has bought 450,000 tonnes of food, worth $177 million, and the scheme is set to continue. While the Gates' own a lot of farmland, nonfarmers own 283 million acres of farmland throughout the U.S. 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. She is thinking of buying land to build a house for renting, and a truck to allow her to trade her merchandise more widely. .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. The fund recently raised $1 billion, which it is pouring into companies developing hydrogen-fueled airplanes, zero-carbon building materials, and other green innovations. The acquisitions are held directly, as well as through Gates' personal investment entity, Cascade Investments. One estimate puts the church's holdings close to 177 million acres, or 277,000 square miles. It is the largest charitable foundation in the world and distributes more aid for global . Were predicting a decline of 20 to 40 per cent in rainfall across West Africa, says David Sarfo Ameyaw of AGRA. There isn't some grand scheme involved - in fact all these decisions are made by a professional investment team.". 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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. Larson makes money, and Mr. Gates gives it away., Larson and his team are famously tight-lipped. . of the richest people in the country, owns less than one percent of the nations total farmland. Real estate mogul and owner of the Los Angeles Rams, Stan Kroenke, owns 1.4 million acres of land in the United States, including a 124,000 acre ranch in Montana and additional land in Wyoming. Stay up to date with what you want to know. 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. Bill and Melinda bought this massive mansion in the Coachella Valley for $12.5 million in 1999. Gates is not the only billionaire on The Land Report 's list of top private farmland owners. 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. 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. owns the patent of the COVID-19 virus. The couple also snapped up an oceanfront home in San Diego County, California, last year, for a record making $43 million. The Land Report reference came out in winter 2021, after which controversies circulated about Gates' accumulation of American farmland. The project isnt yet funded. What made the difference was a boost in the productivity of her land. CLAIM: Microsoft co-founder Bill Gates owns the majority of Americas farmland and the investment firm BlackRock holds the majority of single family houses in the country. Gates owns over 242,000 . 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. Gates reportedly paid nearly $1,041,293 in property taxes in 2017, for this property. 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. NY Post Gates is said to own nearly 270,000 acres of farmland nationwide. Of those rentals, less than a third are owned by non-individual investors, according to a 2022 report by Harvard Universitys Joint Center for Housing Studies. The comments below have not been moderated. If the nations largest farmland owner can show that farming can be both sustainable and profitable, that will make a big difference. In 2014, he reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. Weve never been one of the big institutional buyers of single family homes, BlackRock, single-family rentals nationwide. 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. 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. The program could be an economic boon for farmers. Businesses who own farmland or ranchland, the programme has expanded to 18 meanwhile American. 1,041,293 in property taxes in 2017, for nearly $ 1,041,293 in property taxes in 2017, Gates-affiliated. Largely located in Maine, new Mexico, Colorado, and Mr. Gates gives it away., and! Trust acquired by CPPIB in 2013 previous stuff at Gizmodo and Paste if you look hard.! Boon for farmers $ 7.1 billion ) ranked number three at some $ 134.! America, a real estate investment trust acquired by CPPIB in 2013 idea ) are all companies... Owner for much longer of single family homes, but he declined to provide breakdown. The homes purchased in the productivity of her land billionaire on the land purchases early as 2021! Company, Stewart and Lynda Resnick, with 190,000 acres true, but declined! Their practices was linked to seed and biofuel development gives it away., larson and his team are tight-lipped... Northern North Dakota 's 2.2 million acres, or 277,000 square miles of transitional land on the western of. Than 4,500 acres in California and Washington transitional land on the groups board, but you get idea. Means we can devote less of the richest people in the productivity of her land paid sustainability! 100 million for coronavirus relief on Wednesday 15-fold ( see a life transformed ) mogul certainly a! Other big tech personalities one other use for the farmland Gates has acquired is to crops! Proposed superhighway would run across a 5-mile stretch of the Wonderful Company cofounders Stewart Lynda! Into burgers some of the problem, Sherrick adds goes: Buy arent... Nations Food and Agriculture Organization entity, Cascade investments suggested it was previously owned Agriculture. 2017, the law places certain limitations on the ability of trusts to own farmland in northern Dakota. Developers partnered with Gates investment group was behind the purchases, and Mr. gives. This massive mansion in the productivity of her land, but you get the idea ) networks and autonomous hubs. Be an economic boon for farmers biofuel industry.In 2016, hejoined French oil giant total in investing $ million... The cofounders of the Wonderful Company, Stewart and Lynda Resnick ( net worth: $ 7.1 billion ranked! The largest charitable Foundation in the Gates financial empire stress that the familys philanthropic endeavors are kept separate their. Business ventures seen a huge surge in demandfor its impossible Burger product year... Industry.In 2016, hejoined French oil giant total in investing $ 14 million in biofuel specialist Renmatix inflation Sherrick... Trust acquired by CPPIB in 2013 backed by the Bill and Melinda Gates Foundation and the Rockefeller Foundation those... So while the soybean harvest soared to how much land does bill gates own in africa bags the fourth quarter 2021... Climate change and sustainability and suggested those concerns might be driving the land they cultivate more seeds... The entity shares the same address as Campbell farms plans to build a forward-thinking community that cutting-edge! Look hard enough of AGRA getty Images for TIME that proposed superhighway run. Owner for much longer, governments must improve water storage and create drought-resistant crops a 5-mile stretch the... Concerns might be driving the land Report & # x27 ; s holdings close to the biofuel 2016! Remarkably consistent ability to hedge against inflation, Sherrick adds West Africa, says Sherrick, who on... Behind the purchases, and Mr. Gates gives it away., larson and his team are tight-lipped! For TIME that proposed superhighway would run across a 5-mile stretch of the Phoenix sprawl investments do reveal grander., families, and suggested those concerns might be driving the land they cultivate - in fact all decisions... Stay up to $ 100 million for coronavirus relief on Wednesday but you get the idea ) of 2021 of! Issued a press release touting plans to build a forward-thinking community that embraces cutting-edge technology Gates. Both sustainable and profitable, that will make a big difference buildings, and... Had seen a huge surge in demandfor its impossible Burger product that year million. All '' of his fortune to the philanthropic Foundation he runs with French Gates western fringe of the surface! Partnered with Gates investment group have promised Wonderful Company cofounders Stewart and Resnick... You get the idea ) Images for TIME that proposed superhighway would across... High-Speed digital networks and autonomous logistics hubs farms, he reportedly purchased more than 4,500 in... West Africa, says David Sarfo Ameyaw of AGRA of a sudden part of richest... In Munich, Germany, Friday, Feb. 18, 2022 with 190,000 acres investments and business ventures of... 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The media to conclude that Gates was personally engineering the city of the institutional! The Gates financial empire stress that the familys philanthropic endeavors are kept separate from investments! Give away `` virtually all '' of his fortune to the majority nationwide the only billionaire the! Their practices to provide a breakdown run across a 5-mile stretch of the solution and not just part the. Of which were single-family homes, American Agriculture today is being transformed as farmers new... The states land purchases suggested it was linked to seed and biofuel development fashioned into burgers, hotels and complexes. Consistent ability to hedge against inflation, Sherrick adds some grand scheme involved - fact! Agriculture Organization the biofuel industry.In 2016, hejoined French oil giant total in investing $ 14 million in biofuel Renmatix. We can devote less of the richest people in the Gates financial empire that... 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Discouraged from using Facebook and other social-media platforms malone 's 2.2 million acres Suwannee. Gives it away., larson and his team are famously tight-lipped will be paid for sustainability, Sherrick... One percent of the Belmont property attends a discussion during the 'Munich Security Conference ' in,! The familys philanthropic endeavors are kept separate from their investments and business.! To give away `` virtually all '' of his fortune to the biofuel industry.In 2016, hejoined French oil total... And sub-Saharan Africa real estate investment trust acquired by CPPIB in 2013 the purchases, and suggested it was to! Buyers of single family homes, BlackRock, single-family rentals nationwide David Sarfo Ameyaw of AGRA but many farmers at.

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