Cell ag experts weigh in, Vertical farming should be one instrument in a farmers toolbox, not the whole operation or the farmers competition, Technology is a means, not an end in farming: Key takeaways from Indoor Ag-Con 2023, Digitizing the supply chain drove investment increase in African agrifoodtech in 2022, It will be a year of bust-ups, roll-ups and M&A: VC predictions for agrifoodtech investment, Smoke & mirrors, not worth the extra cost: 50 US farmers speak out on carbon markets, Food & ag corporates prefer to engage with academia, research over startups, according to open innovation report. It's probably starting to make sense why Bill Gates purchased farmland in North Dakota and holds the largest private portfolio of farmland assets in America. Gates also owned up to the various failures in their initiatives, and admitted that they try their best to leverage the expertise and wisdom from the community leaders present in the areas they aid. Bill Gates, the billionaire founder of Microsoft, has been revealed as the biggest private owner of farmland in the US, after buying up 242,000 acres in 18 states. The Tri-City Herald reported that the purchaser was a Louisiana investor, a limited liability company associated with Angelina Agriculture of Monterey, Louisiana. But the purchaser of record was a small, obscure company in Louisiana. Thus, before we answer these questions, we are going to provide a brief summary of his financial history. 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. And the Bill and Melinda Gates Foundation recently launched a new division known as Gates Ag One. Then again, farmers and investors in the Mid-Columbia River market expect to pay $10,000 to $15,000 for good ground. Ebbers subsequently pledged Douglas Lake as collateral for $400 million he ended up borrowing from WorldCom, and in 2003, WorldCom sold Douglas Lake to Kroenke Ranches. Bill and Melinda Gates, who recently announced they're getting divorced and are dividing their assets, are deeply invested in American agriculture. He is also the fourth richest man on planet Earth with a net worth of $125 billion. Nous, Yahoo, faisons partie de la famille de marques Yahoo. Bill Gates is the largest private owner of American farmland, which is why so many people are wondering what he will use it for. And thats where the land purchases come in. 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. 1,539.24 acres of farmland in Champaign County for at least $16,959,677 between 2015 and 2019. The groups founding members are expected to spearhead the rollout of the new standards on their own lands. 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 Gates owns a ton of farmland in the United Statesas in, about 270,000 acres. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. Not surprisingly, one of Leading Harvests other inaugural members is a Cascade entity called Cottonwood Ag Management. Call it a hunch, but the story did not jibe. I forwarded the lead to our Land Report 100 Research Team. The billionaire couple, in less than a. Since 2016, Gates has led Breakthrough Energy Ventures, a venture-capital fund that invests in clean-technology startups. 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. Apply to GLOCALs 2023 program to help advance Latin American agrifoodtech, What is the role of biotech in an ethical food system? 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. And the rich are now buying up vast swathes of farmland. It has also funded myriad research facilities and humanitarian operations, focusing on overcoming diseases, climate change, agricultural research, and health and nutrition in underdeveloped areas. However, Bill Malone is an American billionaire businessman who owns over 2.2 million acres of farms, ranches, and forests in the United States. "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?" His idea, like many others, was to diversify his investments across different asset classes. While he owns a significant amount, it is a relatively small slice of the nations nearly 900 million total farm acres. What is certain is that Gates won't be the last private citizen to do so. Contact Land Income today! A new coalition of farmland owners, operators and environmental groups is working to come up with verifiable standards for sustainable farming. But, while Belmont might not be a smart city, it still looks like a smart investment. (Through a spokesperson, the company declined to comment for this article.). And Gates says investing in more farmland in the future is not off the table. The billionaire couple, in less than a. And already in 2022, the forecast averages about $100 billion in profits. Featured in the agricultural side of their plan is a strategy for subsistence farmers and other small-acre farms in Africa and the developing world education, resources, and layaway payment plans which can be used through smartphones. It seems like Gates is getting ahead of the curve, relative to future Agri-Tech advances profitability, with his farmland investments. FARGO, N.D. (AP) North Dakota's attorney general has found the sale of a couple thousand acres of prime farmland to a group tied to Bill Gates complies with a Depression-era law meant to . Climate change, rising automation, the ravages of climate change, virulent plant diseases, international politics and changing consumer tastes make it progressively difficult for family-owned farms to operate. There were 895.3 million acres of farmland in America in 2021, according to a 2022 reportfrom the Department of Agriculture. What Asset Class Is Farmland Considered To Be? Sign up for notifications from Insider! 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. Deals are highly vetted with around a 1% acceptance rate, You pick and choose what specific farms you want to invest in, Investors do not have access to a secondary market yet, so you should be familiar with the time horizon. 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. That remains unclear. The new green economy will mean new opportunities for land owners, OKeefe believes. BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. Meanwhile, a rep for Gates did highlight to The Post their Leading Harvest initiative, which requires farmland owners to work to continuously improve soil health, biodiversity and water, air and crop quality on their farms.. Called Leading Harvest, the organizations goal is to create a sustainability standard that can be implemented across the greatest swath of agricultural acreage. Gate's private American farmlands are worth an estimated $690 million.. Bill Gates owns more private farmland in the US than anyone . afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. The world is running out of oil. for different crops that have been gene edited to be pest-proof, flood proof, disease proof, and climate change-resistant. The group is called Leading Harvest, and the Gates-linked Cottonwood Ag is one of its founding members. We've received your submission. In January 2021, Bill Gates became the largest owner of farmland in the United States. Gates believes that subsistence farmers and impoverished peoples will be among the most affected by climate change. And why is Bill Gates the largest private owner of farmland in the United States? We wont even come close.. There wasnt a rock, let alone a pebble, or even a root to be seen in the soil. Although the Bill & Melinda Gates Foundation has no ties whatsoever to Cascade or its investments, it also has a farmland initiative: Gates Ag One, which has established its headquarters in the Greater St. Louis area. About 97% of American farms are small and medium-sized family-owned operations. Bill Gates has bought enormous tracts of farmland. 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. In January 2021, Bill Gates became the largest owner of farmland in the United States. he has consistently made investing choices that brought him unusual and incredible returns, and this has brought him great wealth when others made the wrong fiscal moves, and lost much. than 85 million single-family homes in the country, and only around 15 million of those are rentals, Of those rentals, less than a third are owned by non-individual investors, according to. the latest American Housing Survey by the Census Bureau. Along with his wife Melinda Gates, Bill owns over 268,000 acres of farmland diversified in over 19 states. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. Weve never been one of the big institutional buyers of single family homes, BlackRock, single-family rentals nationwide. mesurer votre utilisation de nos sites et applications. ALT TEXT: Indian farmers tending to rice fields by hand. Over time, Gates sold personal stock in Microsoft and. 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. But some of the software pioneers investments do reveal his grander goals. Gates also owned up to the various failures in their initiatives, and admitted that they try their best to leverage the expertise and wisdom from the community leaders present in the areas they aid. 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. Strike three, right? That is the equivalent of almost 900 million acres of arable land used for industry in the country. I scanned the headline for the umpteenth time and then read and reread the pertinent details. In the Reddit AMA, he also said he'll sell what he owns as money goes towards the foundation. In 1994, the Gateses hired the former Putnam Investments bond-fund manager to diversify the couples portfolio away from the Microsoft cofounders 45% stake in the technology giant while maintaining comparable or better returns. The firm is a shareholder in plant-based protein companiesBeyond MeatandImpossible Foods, as well as agricultural equipment makerJohn Deere. 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. The billionaire recently came under severe criticism from a fourth-generation farmer in South Georgia for his farmland ownership in the U.S. Will Harris, who owns a 152-year-old family farm named White Oak Pastures in Bluffton, Georgia, said he has concerns about Gates controlling . Inside Sofia Richie and Elliot Grainge's $26.9M newlywed mansion, Inside NYC's charming Villa Charlotte Bront, where units rarely list, Secluded North Carolina home with its own private beach that went viral lists for sale, The best-dressed celebs at the 2023 Met Gala: Rihanna, Gisele Bndchen, more, Kim Kardashians Met Gala 2023 look sparks comparisons to Playboy cover, Kim Kardashian, Pete Davidson reunite at Met Gala 9 months after breakup, Khristina Williams previews the New York Liberty's 2023 WNBA season, Katy Perry will be temporarily replaced on 'American Idol' amid drama, Woman has 'loud, full body orgasm' in the middle of LA concert. This position in Microsoft was quickly funneled by Cascade Investment into this long term growth strategy. That immediately set off alarm bells, OKeefe says. Jeff Bezos is 25th and owns about 420,000 acres of farmland. Partnering with Monsanto to create these super seeds is also part of the plan. Former Microsoft CEO Bill Gates owns a majority of America's farmland. Microsoft co-founder Bill Gates is well known for his philanthropy and his crusade against climate change. Especially when it comes to row crops like sweet corn and wheat, which were grown in rotation with potatoes on 100 Circles, which is the name of the property that changed hands. holding off on buying and working with what I have. Thats exactly what I thought. Biofuels are renewable fuel sources that are created from the biomass of animals and plants. Join our newsletter to stay up to date on the latest offers from Land Income. Bill and Melinda Gates, who recently announced they're getting divorced and are dividing their assets, are deeply invested in American agriculture. And its headquarters was in you guessed it Monterey, Louisiana. 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. Cascade Investment began purchasing farmland in significant strides in 2013. 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. According to the United States Department of Agriculture, profits in the farming sector have increased by $23.9 billion in 2021. But a rep for Gates is calling these claims ludicrous. Editor Eric O'Keefe noticed a massive purchase (14,500 acres) of prime farmland in Washington State made by an unknown Louisiana-based LLC with two just employees. Senior Airman Dakota C. LeGrand/U.S. 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. What do you think it could mean for the future of farming and food production? Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. New technologies must be developed to give more sustenance to land that we farm to keep it sustainable. 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. Why am I just learning about this NOW?. Thousand-acre transactions such as the sale of 6,000- acre Weidert Farm to Farmland L.P. two years ago and the 6,175-acre Broetje Orchards acquisition by the Ontario Teachers Pension Plan last year are blue-moon events. 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. BlackRock also does not own the majority of the country's 80 million single-family homes. In its review, the Midwest Center found that Baloo Enterprises LLC purchased: 1,926.3 acres of farmland in Douglas County for at least $19,694,096 between 2016 and 2019. For example, seeds are being genetically designed to grow in near non-arable and hostile soil conditions.. US generated 91m tons of surplus food in 2021, representing 6% of all GHG emissions. The biggest concern has been the Chinese companys proximity to a Grand Forks Air Force Base a United States military installation located 20 minutes down the road. It will help farmers in developing countries access Agri-Tech, improve farming tools, learn how to maximize yield better and better adapt to climate change. Gates responded: "I own less than 1/4000 of the farmland in the US. Essentially, by year 2030, the estimated results of what carbon emissions (and their effect on the environment) will look like in 2050 will be decided in full. 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.. Bill and Melinda released their latest initiative, Bill Gates Big Bet, where the Foundation states theyre betting on the major success of developing nations within the next 15 years, hoping to see more improvement than at any time in history. In the spring, the Fufeng Group, the largest privately-owned xanthan gum producer and flavor enhancer in China, dropped $2.6 million for farmland near Grand Forks a rural area that borders Minnesota and is about a 90-minute drive from the Canadian border. How can this inform our personal investment decisions? AcreTrader has carved out a niche for themselves that has led to rapid market dominance. Cows may be given miracle vaccines to help them produce higher quality milk and meat. By using this website, you accept our Terms of Use and Privacy Policy. Another main feature of the Big Bet is the implementation of the culmination of the Gates Foundations research: specialized GMO seeds for different crops that have been gene edited to be pest-proof, flood proof, disease proof, and climate change-resistant. For example, ethanol is a biofuel made from corn, barley, or sorghum and used as a gasoline alternative. In 2006, he helped launch TerraPower, a company developing a new type of compact, ultra-safe nuclear reactor. According to the Tri-City Herald, a 14,500-acre swath of choice eastern Washington farmland in the Horse Heaven Hills of Benton County had just traded hands for almost $171 million. Essentially, by year 2030, the estimated results of what carbon emissions (and their, Eradicate major diseases such as polio, malaria, and HIV, Reduce child death by half across the developing countries in Africa, Educate and empower small-holder farmers through mobile banking, Featured in the agricultural side of their plan is a strategy for. Many people wonder why Bill Gates would make these moves with his investment portfolio. The Gates Foundation isnt the entity utilizing the land, but rather just Bills family office. However, they told The Land Report that Cascade is very supportive of sustainable farming.. In fact, Gates is the owner of over 270,000 acres of farmland, which is worth over $700 million! How about Google Maps? Ebbers was many things a dreamer, a liar, a swindler and he loved land. Bill Gates is best-known for cofounding Microsoft, but he's also a major US landowner, having bought 275,000 acres of farmland. But in total the Microsoft co-founder owns less than 1% of the nations total farmland. This private U.S. farmland REIT was a joint venture between Duquesne Capital Management and Goldman Sachs that launched in 2007. Bill Gates does not own the majority of U.S. farmland. Some of it goes to surrounding states, across the border, or it ends up someplace else. Dusky layers of silt and sand towered over the 6-foot-tall retired Washington State professor. The Gates Foundation has focused their efforts on alleviating the aftermaths of climate change since its founding. Warren E. Buffett acquired a 400-acre Nebraska farm in the '80s that . 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. None of the information contained on this website is a recommendation to invest in any securities. Just 2% was donated. Gates co-founded Microsoft. 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. All investments involve risk and may result in loss. 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 may be more oil in the world. Does the name Bernie Ebbers ring a bell? The same logic likely holds for Gates Arizona acquisitions. So I took a look at Dun & Bradstreet. Committing the resources to launch this all-important standard validates the assertion that Cascade supports sustainable strategies that advance resiliency and efficiency, retain talent, and reduce regulatory burdens. In 2005, the former WorldCom CEO was convicted of securities fraud, conspiracy, and filing false reports that were instrumental in WorldComs $11 billion dollar accounting fraud. 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. Larson sees to it that Gates wealth is sensibly, even conservatively, invested. 'Gorilla Glue girl' Tessica Brown finds breast lumps befor Woman has 'loud, full body orgasm' in the middle of LA concert, Bride killed, groom seriously hurt by drunk driver just minutes after leaving reception, All the red carpet highlights and star-studded fashionfrom the Karl Lagerfeld-themed Met Gala, The best-dressed celebs at the 2023 Met Gala: Rihanna, Gisele Bndchen, more, Kim Kardashians Met Gala 2023 look sparks comparisons to Playboy cover, Kim Kardashian, Pete Davidson reunite at Met Gala 9 months after breakup, Khristina Williams previews the New York Liberty's 2023 WNBA season, Elon Musk Tells Bill Maher Woke Mind Virus Is Dangerous On Real Time, Katy Perry will be temporarily replaced on 'American Idol' amid drama. of the richest people in the country, owns less than one percent of the nations total farmland. Bill is now the biggest owner of farmland in 2022 a great hedge asset against rising inflation. Minutes later, a terse response arrived: Actually, when it comes to the extensive farmland portfolio of Bill and Melinda Gates, the question should be, Ever hear of Michael Larson? For the last 25 years, the Claremont McKenna College alum has managed the Gateses personal portfolio as well as the considerable holdings of the Bill & Melinda Gates Foundation. When Ebbers owned this Louisiana farm, it was known as Angelina Plantation. BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. Some of the biggest critics of Gates have deemed his philanthropy as a budding technocracy a tyranny of experts that both centralizes power into a private corporations interests. That means Gates, whose net worth is estimated at some $134 billion. All https://www.barchart.com/solutions/ is provided by Barchart Solutions. , an annual survey of the nations largest landowners. Bill Gates has started laying out his plans for creating a smart city in Phoenix, Arizona, science-news outlet Futurism wrote. However, the Gates Foundation has been largely transparent at every level of their operations from their objectives, means, successes, and failures. What Returns Should You Expect From Farmland Investing? "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. There is absolutely no connection between the Gate[s] North Dakota farmland investments and the Fufeng Group, a spokesperson for Cascade Investment, which oversees the investments of the Bill & Melinda Gates Foundation Trust and Bill Gates, told The Post. While private companies and corporations are increasing. That can mean better yields with decreased use of fertilizers and pesticides. With all of this recent farmland accumulation, one might think Gates is using this land to research these gene edited super seeds. However, one cannot become a farmer without a sense of optimism. Malone is #1 when it comes to owning the most corporate farmland in the United States. Air Force, 2023 NYP Holdings, Inc. All Rights Reserved, Bill and Melinda Gates gush over new grandbaby in separate photos, Bill Gates says AI-powered ChatGPT as important as PC, internet, mobile phones, 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, $13.5 million investment in 2,100 sprawling acres. New seeds can reduce water use but some areas wont be able to farm as much.. These subsistence farmers can order equipment and seeds they need, paying what they can over a longer period of time. People are going to pay attention to what Bill is doing, Sherrick says. 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. 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. I dont think the poorest [] countries will be eating synthetic meat. Most notably, in 2017, the Gates-affiliated Mt. 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. The soil profile and underlying silty loess are in a league of their own. He died on February 2 surrounded by his family. Currently, no one knows. APS ASSESSMENT: False. And they barely produce enough crops for food or profit. It, too, was sold, on September 25, 2006, the day before Ebbers began serving his sentence at the Oakdale Federal Correctional Institution. Gates is in 49th spot but rising. Farmland Riches, LLC and the owners may have investments in companies represented on the AcreTrader platform. So, if farmers do not improve farming methods, local communities suffer. A spokesman for Cascade Investment declined to comment on any of the details associated with these transactions or the Gateses holdings, other than to say that Cascade is very supportive of sustainable farming. So, what's the interest in farmland? In January 2020, The Land Report announced the launch of a sustainability standard that was developed by U.S. farmland owners and operators. In 1994, Bill Gates opened up his family office, Cascade Investment LLC, with trusted wealth manager Michael Larson.
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