From billionaire to landowner, make way for Bill Gates as the US nation’s biggest buyer for farmland.
According to media reports, the billionaire is a big spender on hay and by that, we mean thousands and thousands of acres of farmland. Moreover, his massive spending spans a staggering 18 states, giving him a grand total of 242,000 acres of land.
Recently, Gates made another huge purchase where he bought 242,000 acres of farmland that spans a whopping 18 different states. When it comes to his major holding sites, the state of Louisiana, Nebraska, Arkansas, and Arizona are all included. But farmland isn’t the only type of private land he possesses.
His variants range from suburban too, in areas like Phoenix and Arizona. And that he mentions how he intends to transform into a mega ‘smart city.
Today, Bill Gates stands as the 4th richest person in the world. Moreover, his net worth is more than $121 billion, as reported by Forbes recently.
On the other hand, the biggest landowner of the US is John Malone, who is another billionaire businessman. He owns a whopping 2.2million acres of land. News reports mentioned how it’s still unclear why Bill Gates made such a large purchase of farmland. However, some critics believe it has to do with factors relating to climate change.
News outlets also mentioned how the land is directly owned by Gates’ famous investment entity, called ‘Cascade Investment.’ Meanwhile, it was also revealed how the corporation’s money manger is Michael Larson who is also Gates’s portfolio manager when it came to land related assets.
Slowly but surely, Gates is doing whatever it takes to create his massive portfolio when it comes to massive agriculture. Research reveals how tech billionaire’s purchases have more than doubled, keeping in mind a six-year period of time.
The entire ordeal still remains a mystery but Cascade did elaborate upon how the land purchases come as Gate is very supportive of the idea behind sustainable farming.