You cant just say, Ive got $30,000 saved up and I want to buy some farmland, Sherrick notes. By Tim Gray. 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. All Rights Reserved. Super-crops are genetically modified seeds, crops and livestock to maximize as much yield as possible. Bill Gates has bought enormous tracts of farmland. People are going to pay attention to what Bill is doing, Sherrick says. 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. And the Bill and Melinda Gates Foundation recently launched a new division known as Gates Ag One. Get the latest news and research from AFN & AgFunder in your inbox. Former Microsoft CEO Bill Gates owns a majority of America's farmland. 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. For related content and insights from industry experts, sign up for Successful Farming newsletters. 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. Top 5 farms with the largest acreage in the U.S. How farmers can maximize the value of forestland, Northeastern Indiana farmland sells for $19,984 per acre. Bill Gates land purchases look to me more like sensible long-term holds run by experienced asset managers.. 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. Officially, the general public doesnt know exactly what Bill Gates growing farmland estate is being used for. Perhaps history is repeating itself? The Gates Foundation has focused their efforts on alleviating the aftermaths of climate change since its founding. 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. Talk about big bets. Given the size and cost of 100 Circles, both of those figures made no sense at all. Currently, more than 2 million acres in 22 states and an additional 2 million acres in seven countries are represented. The Gates Foundation isnt the entity utilizing the land, but rather just Bills family office. Past performance is no guarantee of future results. This position in Microsoft was quickly funneled by Cascade Investment into this long term growth strategy. 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. It has been very fulfilling for me and is my full time job," Gates continued. The most famous and by far wealthiest farmland owners in sparsely populated Concordia Parish are getting a divorce. Even in an age of rapidly encroaching automation, it isn't, and never has been, easy being a farmer. To see all exchange delays and terms of use, please see https://www.barchart.com/solutions/terms. Warren E. Buffett acquired a 400-acre Nebraska farm in the '80s that . 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. Oct. 8, 2021. 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. 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. While he questioned if cell-cultured meat will ever be economical, he said that plant-based protein makers like Impossible FoodsandBeyond Meat have [a] quality road map and a cost road map that makes them totally competitive., How do you feel about the Gates owning so many of Americas farm acres? "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. In the past 20 years, the foundation has grown to hold over $48 billion. Called Leading Harvest, the organizations goal is to create a sustainability standard that can be implemented across the greatest swath of agricultural acreage. BlackRock also does not own the majority of the countrys 80 million single-family homes. Bill Gates owns more private farmland in the US than anyone . Theres also a proposal to build a new interstate linking Phoenix to Las Vegas. AcreTrader is one of the most well-established farmland crowdfunding platforms out there. He sees Gates involvement even if indirect as crucial in encouraging the industry to embrace the new sustainability standard. "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?" People want to know, Why does Bill Gates want all this land? , But hyper-wealthy people like Gates dont make every decision personally, OKeefe notes. Cascade employees almost never speak to the press. AcreTrader has carved out a niche for themselves that has led to rapid market dominance. 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. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. He's the new MacDonald: Bill Gates owns hundreds of thousands of acres across the United States including 242,000 acres of farmland making him the country's top agricultural landholder,. In 1994, Bill Gates opened up his family office, Cascade Investment LLC, with trusted wealth manager Michael Larson. Bill Gates, one of the most powerful billionaires in the world and co-founder of . Malone is #1 when it comes to owning the most corporate farmland in the United States. I do think all rich countries should move to 100% synthetic beef, he said. There were 895.3 million acres of farmland in America in 2021, according to a 2022 reportfrom the Department of Agriculture. 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. Late last year, Eric OKeefe was researching a mysterious recent purchase of 14,500 acres of prime Washington state farmland. Farmland has some natural built-in drawbacks for all of the built-in benefits: Just 20 years ago, it was difficult to invest in farmland if you werent already independently wealthy. Larson also makes sure Gates keeps his eggs in a wide variety of baskets. 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. There are over two million individual farms in the United States. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. That proposed superhighway would run across a 5-mile stretch of the Belmont property. Many stories focused on Gates longstanding interest in climate change and sustainability and suggested those concerns might be driving the land purchases. Returns from farmland have actually outpaced the stock market in recent years with significantly less volatility. 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. By using this website, you accept our Terms of Use and Privacy Policy. Gates is just using farmland to make Agri-Tech and financial investments. Valuations of equities (stocks) are at all time highs, similar to the dot-com bubble. Bill Gates is best-known for cofounding Microsoft, but he's also a major US landowner, having bought 275,000 acres 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. Gates co-founded Microsoft. Is Gladstone Land Corp (LAND) A Good Investment? CSC Leasing: Non-dilutive Funding for AgTech Startups, Americas Cultivation Corridor: We Grow AgTech Innovation, largest portfolio of private farmland in the US, replace their consumption of cattle-derived beef, How to implement digital agriculture, step-by-step, The Week in AgriFoodTech: Restaurant order app me&u bagged $30m, Remilk approved for Israeli markets, biomaterials bonanza, First Bite: Better Bite Ventures backs four early-stage APAC alt protein startups, from cauliflower ice cream to cultivated seafood. Yet farmland assets arent the sole component of the Gateses landholdings. One of the most telling moments in the field that summer came when a soil scientist by the name of Alan Busacca grabbed a shovel and stepped into a 10-foot trench that had been ripped open on the farm by a Caterpillar 336. Gates is considered the largest individual private owner of farmland in the country with more than 280,000 acres across dozens of states, according to last years edition of the Land Report 100, an annual survey of the nations largest landowners. of the richest people in the country, owns less than one percent of the nations total farmland. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them,. It seems like Gates is getting ahead of the curve, relative to future Agri-Tech advances profitability, with his farmland investments. Rating: False About this rating Context In April 2022, conspiracy theorists insinuated that billionaire Bill Gates. 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. Theories began spreading that a future food shortage could lead to a collaboration between China and Gates to invest in American farming land and take control of the countrys food supply. Among the participants in the 13-member Sustainable Agriculture Working Group are Ceres Partners, Hancock Natural Resources Group, The Rohaytn Group, and UBS Farmland Investors. 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 . Bill is now the biggest owner of farmland in 2022 a great hedge asset against rising inflation. (Although our researchers identified dozens of different entities that own the Gateses assets, Larson himself operates primarily through an entity called Cascade Investment LLC.). Cows may be given miracle vaccines to help them produce higher quality milk and meat. Remember that metal-sided building down near the Bayou Teche? Gates is in 49th spot but rising. It isless than .1% of all US farmland because the ownership is so diverse. In his annual Reddit Ask Me Anything session on Wednesday, Gates was asked why he has made all of his farmland purchases. Gates co-founded Microsoft. Something was missing. 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, Gates longstanding interest in climate change. Without innovation, we will not solve climate change, Gates said. He has very competent investment managers.. In January 2021, Bill Gates became the largest owner of farmland in the United States. Gates responded: "I own less than 1/4000 of the farmland in the US. So, if farmers do not improve farming methods, local communities suffer. Land Income 2021. The story went dark on the buy side, however. So I took a look at Dun & Bradstreet. The soil profile and underlying silty loess are in a league of their own. However, one cannot become a farmer without a sense of optimism. 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. 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. While Gates appears . However, Bill Malone is an American billionaire businessman who owns over 2.2 million acres of farms, ranches, and forests in the United States. It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions.. Farmlands will only become more automated in the future. 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. In emails, BlackRock spokesman Christopher Beattie told The Associated Press that the firm. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. 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. Please consult with your legal and financial advisors before investing and do not invest unless you are able to sustain the risk of loss of your entire investment. His idea, like many others, was to diversify his investments across different asset classes. 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. One main benefit to alt assets especially for those whore heavily invested in the stock market is you can diversify your overall investment portfolio outside the NYSE/NASDAQ. For example, seeds are being genetically designed to grow in near non-arable and hostile soil conditions.. 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. Farmland has had a remarkably consistent ability to hedge against inflation, Sherrick says. It was his last deal as a free man. Theres a tendency in the media to personalize this, OKeefe says. Learn more about fact-checking at AP. The plant-based protein craze will be worth $23.4 billion by 2027. While Bill Gates is technically the largest farmland owner in the United States, he isn't. Only sovereign wealth funds and institutional investors can stroke a check for tracts in that league, which is exactly what occurred on the sell side of the 100 Circles transaction: The seller was John Hancock Life Insurance, a multibillion-dollar asset manager with key holdings in all the major U.S. markets as well as Canada and Australia. Here are a few likely reasons why Bill Gates is scooping up farmland: Whatever you may think about the man himself, 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. In fact, Gates is the owner of over 270,000acres of farmland, which is worth over $700 million! There were 895.3. 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. Think about how much Bill Gates would have lost if he hadn't diversified in 1999. Instead, the Canada Pension Plan Investment Board revealed in the fine print of a quarterly statement that it had sold $520 million in U.S. farmland assets held by Agriculture Company of America. The Gates can create worlds biggest agrifoodtech testbed but theyll need to win over farmers first. Thus, in Gates mind, its extremely important to help empower these developing peoples before that year comes to fruition. 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. The landowners can include investors like Gates. That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for. Cascade leases the majority of its land to farmers and is committed to the safety and sustainability of both its farmland and its people, the spokesperson for Cascade Investment said. Anyone who has ever studied the Columbia River Basin knows that the tillable acreage there is coveted ground, a geologic wonder. 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. Bill Gates does not own the majority of U.S. farmland. In fact, Gates is the owner of over. Is Farmland Partners (FPI) A Good Investment? 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. Currently, no one knows. One must be an optimist to be an American farmer. About 97% of American farms are small and medium-sized family-owned operations. It wasnt long before subreddit chains and conservative voices began inquiring whether Gates, 66, had any ties to the Chinese investment near Grand Forks. But a rep for Gates is calling these claims ludicrous. 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. Leading Harvest envisions a kind of sustainability seal of approval certifying that a given farm meets environmental standards. 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. Strike two. We have lots of water. In a recent episode of 60 Minutes, Gates explained that zero-carbon energy sources like nuclear power are vital in reducing the emissions that warm the atmosphere. At current valuations, its one of the nations best farmland opportunities. seed technologies, super-crops and overall farming efficiencies. The problem is that it is expensive to desalinate it and move it to where it is needed, Gates wrote. Farmland Riches, LLC and the owners may have investments in companies represented on the AcreTrader platform. LITTLE ROCK, Ark. When Ted Turner bought his Flying D Ranch in Montana in 1989, that was his personal passion, OKeefe says. The cofounder of Microsoft and his wife make an auspicious debut on the 2020 LAND REPORT 100, as Americas largest private farmland owners. Last year, Gates vowed to give away "virtually all" of his fortune to the philanthropic foundation he runs with French Gates. 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.. Nous, Yahoo, faisons partie de la famille de marques Yahoo. Over the next five years, AgCoA acquired more than 100,000 acres in nine states. Farmland Riches is sponsored by FarmTogether. 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. I scanned the headline for the umpteenth time and then read and reread the pertinent details. Ebbers was many things a dreamer, a liar, a swindler and he loved land. What special interest does Bill Gates have in farmland? Any why now after years of massive success? He had accumulated more than 269,000 acres of farmland across 18 states in less than a decade. He assigned his research team to dig a little deeper. 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. That was the missing piece of the puzzle I had been searching for as I read the Tri-City Herald story. dvelopper et amliorer nos produits et services. All investments involve risk and may result in loss. All Rights Reserved. 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 farmland just 40 miles away. The same logic likely holds for Gates Arizona acquisitions. 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. 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. Bill Gates is an American technology pioneer. 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. Sign up for notifications from Insider! 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. These are a few of the reasons why savvy investors have been plowing millions of dollars into farmland on both the Oregon and the Washington sides of the Columbia River Gorge. It, too, was sold, on September 25, 2006, the day before Ebbers began serving his sentence at the Oakdale Federal Correctional Institution. The day before he went to prison, Ebbers sold Angelina for $32 million. 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.. Weve never been one of the big institutional buyers of single family homes, BlackRock said in response to one tweet. 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. The farm was subsequently sold to AgCoA, which was acquired by the Canada Pension Plan Investment Board. In reality, the idea that Bill Gates was single-handedly reinventing farming or designing cities of tomorrow was almost entirely speculation. Contact Land Income today! Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. 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. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. 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. This isn't the first time Gates has called for higher taxes on the wealthy. BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. He hopes plant-based substitutes will allow us to cut down on meat eating while still enjoying the taste of meat.. Farmland Index. But the Microsoft tycoon is shooting down accusations that he has any ties to that company, The Post can exclusively confirm. And already in 2022, the forecast averages about $100 billion in profits. Read more here. 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. While private companies and corporations are increasing. The 2,100 acre potato farm adds to his massive portfolio of farm investments. 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. Lets call that strike one. 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. Leon Neal/Getty Images. According to the United States Department of Agriculture, profits in the farming sector have increased by $23.9 billion in 2021. While the global climate change initiative is trying to reduce total emissions by the year 2050, the year 2030 is also important. But many farmers lease at least some of the land they cultivate. 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. Why is Bill Gates investing heavily in farmland? Some of the wealthiest landowners including Jeff Bezos, John Malone, and Thomas Peterffy are buying up forests, ranches and farmlands across . Any historical returns, expected returns, or probability projections are forward looking statements and may not reflect actual future performance. Ninety-six percent of everything produced in North Dakota leaves our state, said Goehring. mesurer votre utilisation de nos sites et applications. But the purchaser of record was a small, obscure company in Louisiana. Also, because youre investing in the land itself, your investment not only is quite resistant to depreciation, but also provides some solid tax benefits due to be land ownership. 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. Jeff Bezos is 25th and owns about 420,000 acres of farmland. ALT TEXT: Indian farmers tending to rice fields by hand. 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. All https://www.barchart.com/solutions/ is provided by Barchart Solutions. For example, ethanol is a biofuel made from corn, barley, or sorghum and used as a gasoline alternative.
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