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 . 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 fund recently raised $1 billion, which it is pouring into companies developing hydrogen-fueled airplanes, zero-carbon building materials, and other green innovations. 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. And thats where the land purchases come in. Sorry, but that didnt pass the sniff test. Tens of thousands of acres? Jun 24, 2022, 8:13 AM PDT. The Gates Foundation has focused their efforts on alleviating the aftermaths of climate change since its founding. 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. And the rich are now buying up vast swathes of farmland. In early 2021, Bill Gates made headlines for becoming the largest private farmland owner in the U.S. , an annual survey of the nations largest landowners. There were 895.3 million acres of farmland in America in 2021, according to a 2022 reportfrom the Department of Agriculture. In 1994, Bill Gates opened up his family office, Cascade Investment LLC, with trusted wealth manager Michael Larson. That is the equivalent of almost 900 million acres of arable land used for industry in the country. Not surprisingly, one of Leading Harvests other inaugural members is a Cascade entity called Cottonwood Ag Management. is not a registered broker-dealer, investment adviser, or crowdfunding portal under Regulation CF. To see all exchange delays and terms of use, please see https://www.barchart.com/solutions/terms. Many stories focused on Gates longstanding interest in climate change and sustainability and suggested those concerns might be driving the land purchases. The cofounder of Microsoft and his wife make an auspicious debut on the 2020 LAND REPORT 100, as Americas largest private farmland owners. Corporations own the other 3% and rent land or buy many of the crops owned by the 97%. Over time, Gates sold personal stock in Microsoft and reinvested it through Cascade Investment. The agriculture sector is important, he wrote. Bill left most of his professional work at Microsoft at this time to work with Melinda and the foundation. Not only was he no longer reliant on his own companys success for his own personal wealth, but he set himself up to make even bigger moves in the decades to come. Gates is a renowned software developer, international philanthropist, noted business magnate, and investor. In his Reddit AMA last year, one user said, "What do you plan to do with all the farmland you have purchased? This position in Microsoft was quickly funneled by Cascade Investment into this long term growth strategy. What special interest does Bill Gates have in farmland? These allow investors to get stared with as little as $10,000. 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. I am quite confident that Eastwoods character, Steve Everett, would have picked up the stench from this setup a mile off: a $171 million acquisition by an LLC with two employees in a metal-sided building down a dirt road off the Bayou Teche? Bill Gates does not own the majority of U.S. farmland. The Gates Foundation has seen steady success and growth since their launch, funding science, research, agriculture and education. 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.. Some are near cities and might end up having other uses.". But it also means we can devote less of the planets surface to farmland, which is good news for forests and ecosystems. The old saying about land is they aren't making any more of it. Supply and demand? 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. And the most significant way that Gate's investments may affect farming is causing more people to see farmland as something to invest in rather than take farmland existence for granted. Additionally, these small-scale, developing country farms serve local communities. Perhaps Bill Gates is looking to test out his GMO seeds. Nebraska has the third-most Gates-owned farmland in the nation. The Land Report tracks numerous Louisiana landowners; Angelina Agriculture is not one of them. More often than not, farmland sales involve hundreds of acres. There isn't some grand scheme involved - in fact all these decisions are made by a professional investment team.". 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. 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. Remember that metal-sided building down near the Bayou Teche? Gates owns 17,940 acres in Illinois, the report also states. What do you think it could mean for the future of farming and food production? However, there are also countless farmland investing platforms gaining traction now too. The current best estimate is that the modern world will run out of fossil fuels, and the ability to fuel its global fossil-fuel run infrastructure, by the year 2067. 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. However, they told The Land Report that Cascade is very supportive of sustainable farming.. Sales of more than a thousand acres are blue-moon events, OKeefe noted, so this one stood out. How about Google Maps? This is a sponsored promotion for the AcreTrader platform. Gate's private American farmlands are worth an estimated $690 million.. 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.. Because of this crucial factor inherent to farmland, it also tends to provide better, consistent returns during times where inflation rises another scenario where more traditional assets like stocks and real estate suffer in. 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. Many people wonder why Bill Gates would make these moves with his investment portfolio. 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. I dont think the poorest [] countries will be eating synthetic meat. The moguls holdings include large tracts in Illinois, Iowa, Louisiana, California, and about a dozen other states. There may be more oil in the world. Strike three, right? Investors bought a record 18.4% of the homes purchased in the fourth quarter of 2021 three-quarters of which were single-family homes. Rating: False About this rating Context In April 2022, conspiracy theorists insinuated that billionaire Bill Gates. About 97% of American farms are small and medium-sized family-owned operations. Goehring, however, reiterated the legality of owning farmland in the United States. 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. The world is moving forward with renewable energy sources like solar and biofuels. Farmland as an investment offers low volatility. Farmland has had a remarkably consistent ability to hedge against inflation, Sherrick says. BlackRock is sometimes confused w/ Blackstone, which owned Invitation Homes. 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. You cant just say, Ive got $30,000 saved up and I want to buy some farmland, Sherrick notes. 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. Gates was speaking to Redditors during an event marking the release of his new book, How to Avoid a Climate Disaster.. I like that we have more value added., I dont like that its China, but the reality is, I dont have a leg to stand on because if theres nothing unlawful about it, just because I dont like something, doesnt mean it should go away.. for different crops that have been gene edited to be pest-proof, flood proof, disease proof, and climate change-resistant. But the Microsoft tycoon is shooting down accusations that he has any ties to that company, The Post can exclusively confirm. The project isnt yet funded. BlackRock also does not own the majority of the country's 80 million single-family homes. Biogas is a natural gas alternative that can be sourced from animal manure or algae., Future biofuel advancements could make farming more self-sustaining, environmentally friendly and more efficient.. Microsoft co-founder and philanthropist Bill Gates responded to questions about his farmland investments during an Ask Me Anything (AMA) session on social media platform Reddit this weekend. Bill Gates is an American technology pioneer. Gates has been asked about his farmland purchases before. Interestingly enough, though the Bill and Melinda Gates Foundation is working on this agriculture initiative. Due climate change, dry seasons will be drier, and wet seasons will be more intense, and bring more flooding. Based in Toronto, the Canada Pension Plan Investment Board began assembling an agricultural portfolio in 2013, when it acquired AgCoA, aka, Agricultural Company of America. 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. This is especially helpful if, say, the stock market crashed, and you had a more aggressive stock portfolio (or any large stake in stock at all). In emails, BlackRock spokesman Christopher Beattie told The Associated Press that the firm. holding off on buying and working with what I have. I readily admit forgetting where and when I first caught wind of it, but the moment I read that Tri-City Herald story, I knew the ending definitely needed a rewrite. So, if farmers do not improve farming methods, local communities suffer. It was near-perfect timing too, as 2000 would quickly see the infamous tech crash of dot com stocks. a Reddit user asked. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. 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. After AgCoA, the Canada Pension Plan Investment Board acquired a second tranche of farmland assets when it paid $2.5 billion for a 40% stake in Glencore Agricultural Products in 2016. Other questions put to Gates during his Reddit AMA session similarly touched on the sustainability of the agrifood system. However, the Gates Foundation has been largely transparent at every level of their operations from their objectives, means, successes, and failures. 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. The firm is a shareholder in plant-based protein companiesBeyond MeatandImpossible Foods, as well as agricultural equipment makerJohn Deere. (AP Photo/Michael Probst, File ), Connect with the definitive source for global and local news. My investment group chose to do this. You might remember an intriguing story from earlier this year, when an investigative journalist discovered that Microsoft co-founder Bill Gates had been quietly buying up so much farmland. 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. Malone is #1 when it comes to owning the most corporate farmland in the United States. 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. He also owned a 26,236-acre Louisiana farm. That makes Invitation Homes the, largest operator of single-family rental homes in the country, but still represents, BlackRock also suggested it was being confused for the similarly-named i. nvestment management firm Blackstone, which until recently owned Invitation Homes. For more information read our Risk Statement click here. His . Bill Gates, one of the most powerful billionaires in the world and co-founder of . Bill Gates is an American technology pioneer. In 2020, Gates made headlines for becoming the largest private farmland owner in the U.S. Its single largest acquisition of farmland came in 2017, when it paid $520 millionto purchase 61 properties from theCanada Pension Plan Investment Board (CPPIB). Future crops may be designed to grow better in droughts, heatwaves and withstand disease. These subsistence farmers can order equipment and seeds they need, paying what they can over a longer period of time. 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,. That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for. 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. Some of the most sensitive elements of Grand Forks exist with the digital uplinks and downlinks inherent with unmanned air systems and their interaction with space-based assets, Officer, Maj. Jeremy Fox, wrote in an April memo obtained by CNBC, adding that any such data collection would present a costly national security risk causing grave damage to the United States strategic advantages.. 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. This parcel which apparently makes up the bulk of the Gatess farmland holdings had previously belonged to Agriculture Company of America, a real estate investment trust acquired by CPIBB in 2013. Whether or not Gates personally directed Cottonwood Ag to get involved in the Leading Harvest project, the move makes both environmental and business sense. It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions.. Gates personal farmland portfolio is managed by Michael Larson and Cascade Investment. 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. Bill and Melinda Gates. His environmental bent also extends to farming. We've received your submission. That immediately set off alarm bells, OKeefe says. 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. Best Farmland Investing Platforms Non-Accredited, Best Canadian Farmland Investing Platforms. Cascade Investment began purchasing farmland in significant strides in 2013. Cascade employees almost never speak to the press. He created the pledge in 2010 with his then-wife, Melinda French Gates, and his close friend and Berkshire Hathaway CEO, Warren Buffett. But if it ever gets built, it would boost the value of Gates land dramatically. seed technologies, super-crops and overall farming efficiencies.
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