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America’s Largest Proprietor Of Farmland Is Now Invoice Gates

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supply: www.forbes.com
by: Ariel Shapiro  Forbes Workers

Invoice Gates, the fourth richest particular person on the planet and a self-described nerd who is understood for his early programming abilities slightly than his love of the outside, has been quietly snatching up 242,000 acres of farmland throughout the U.S. — sufficient to make him the highest personal farmland proprietor in America.

After years of stories that he was buying agricultural land in locations like Florida and Washington, The Land Report revealed that Gates, who has a web price of practically $121 billion in response to Forbes, has constructed up a large farmland portfolio spanning 18 states. His largest holdings are in Louisiana (69,071 acres), Arkansas (47,927 acres) and Nebraska (20,588 acres). Moreover, he has a stake in 25,750 acres of transitional land on the west aspect of Phoenix, Arizona, which is being developed as a brand new suburb.

In keeping with The Land Report’s analysis, the land is held instantly and thru third-party entities by Cascade Investments, Gates’ private funding car. Cascade’s different investments embody food-safety firm Ecolab, used-car retailer Vroom and Canadian Nationwide Railway.

Whereas it might be shocking {that a} tech billionaire would even be the largest farmland proprietor within the nation, this isn’t Gates’ solely foray into agriculture. In 2008, the Invoice and Melinda Gates Basis introduced $306 million in grants to advertise high-yield, sustainable agriculture amongst smallholder farmers in sub-Saharan Africa and South Asia. The muse has additional invested within the improvement and proliferation of “tremendous crops” immune to local weather change and higher-yield dairy cows. Final 12 months, the group introduced Gates Ag One, a nonprofit to advance these efforts.

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