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how much land does bill gates own in africa
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how much land does bill gates own in africa
AGRA was set up in 2006 by the Bill and Melinda Gates Foundation and the Rockefeller Foundation. A corporation or LLC found in violation of the law has up to a year to divest itself fromt he land or face a penalty up to $100,000, according to the letter. And in Africa, there's a particularly prominent initiative driving corporate agriculture's agenda Bill Gates's Alliance for a Green Revolution in Africa (AGRA). James B. Meigs is the co-host of the How Do We Fix It? podcast and the former editor-in-chief of Popular Mechanics. Farms also have a role in fighting climate change. Were connecting [smallholders] to the entire business chain, says Jama. Posted by Triple Net Matt July 4, 2022 Posted in commercial real estate Tags: bill gates, commercial broker, commercial real estate, net lease, nnn, STNL. Many believe unhinged conspiracy theorists fuel the trend. With proper techniques, the carbon from decaying plant matter can be kept safely in the soil, rather than entering the atmosphere in the form of carbon dioxide. Starting in 2013, Gates began investing his billions (through the firm Cascade Investment) in agriculture because of its steady increase in value and low volatility. Whether or not Gates personally directed Cottonwood Ag to get involved in the Leading Harvest project, the move makes both environmental and business sense. Gates has invested in Impossible Foods and Beyond Meat, two companies producing beef substitutes, including the Impossible Burger. As of 2019, around 40 percent of American farmland is rented to tenants, who then operate on it. Another notable acquisition was Cascade's $170 million purchase of 14,500 acres of farmland in Washington state from John Hancock Life Insurance in 2018. To effectively address climate change, we need to develop an energy infrastructure that doesnt emit greenhouse gas and is cost competitive. The AGRA project is the most concerted effort yet to fix the problem. Opinion: Bill Gates and Warren Buffett should thank American taxpayers for their profitable farmland investments Last Updated: March 13, 2021 at 11:54 a.m. New Scientist went to press before the meeting finished. Berkshire Hathaway is one of the largest companies in the S&P 500, with a market value of $522.43 billion. Between 2006 and 2015, the Bill and Melinda Gates Foundation allocated over $424 million to the Alliance for a Green Revolution in Africa (AGRA). Introduction. Forty percent of all children in sub-Saharan Africa are stunted. In that same Reddit AMA from 2021, the one where Gates separated his land investments from his sustainability initiatives, he also mentioned the importance of productive seeds to avoid deforestation as well as the production of biofuels, which relies heavily on corn, in the very same answer. The groups founding members are expected to spearhead the rollout of the new standards on their own lands. Published: 23:06 GMT, 15 January 2021 | Updated: 07:04 GMT, 16 January 2021. This isn't the first time Gates has called for higher taxes on the wealthy. This parcel apparently makes up the bulk of the billionaire couples farmland holdings. Dr. Alan Busacca, professor emeritus at Washington State University, told Land Report at the time that the fertile land in the area was used for growing 'apples, cherries, carrots, dryland and irrigated wheat, and row and field crops'. The region west of Phoenix is booming. The booming population of Africa looms over his foundation's latest global survey. Most likely, it is just one more asset in Gates vast portfolio, quietly appreciating in value while the billionaire himself remains at arms length. Bill and Melinda Gates, pictured at The Elysee Palace in 2017 where they received the award of Commander of the Legion of Honor, are now the biggest owners of farmland in the US, a new report revealed, The tech billionaire has quietly bought up 242,000 acres of farmland in 18 states - and 268,984 of multi-use land in 19 states in total, making him the biggest agricultural landowner in the US, though far short of the biggest overall landowner in the country, In 2018, a 'Louisiana investor', later revealed to be Gates, paid $171 million for a large swath of farmland in the Horse Heaven Hill, making it one of the largest real estate transactions in recent memory, In 2014, Gates reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. While he owns a significant amount, it is a relatively small slice of the nations nearly 900 million total farm acres. We wont even come close.. How fitting! The portion of land that isn't owned by farmers varies widely regionally; in some areas, almost 80 percent of agricultural land is held by non-operators. Farmland in those parts is valuable, commanding prices between $10,000 and $15,000 per acre, far beyond the state average of about $2,000. Since 2017 he reportedly holds a significant stake in 24,800 acres of land on the west side of Phoenix. Social media users are falsely claiming that Gates owns the majority of U.S. farmland. Public records cited by AgWeek show that the Gates-linked Red River Trust bought the farmland from the owners of Campbell Farms, a potato farming group that is headquartered in Grafton, North Dakota, which is about 50 miles from the Canadian border. 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But a Gates spokesperson said in a statement on Friday that the claim that hes bought the majority of the nations farmland is false, pointing to a U.S. Department of Agriculture report from February that showed there were more than 895 million total acres of farmland in the country last year. The couple also snapped up an oceanfront home in San Diego County, California, last year, for a record making $43 million. Purchased fromMadeleine Pickens, the former wife of Texas billionaire T. Boone Pickens, the property deal is one of the largest ever recorded in the area,The Wall Street Journalreported. She is thinking of buying land to build a house for renting, and a truck to allow her to trade her merchandise more widely. Hearst Magazine Media, Inc. All Rights Reserved. Were predicting a decline of 20 to 40 per cent in rainfall across West Africa, says David Sarfo Ameyaw of AGRA. John Malone is the largest private landowner in the United States. Banda has also been able to buy an ox cart and pay school fees for one of her children. Earlier this year, in May, claims were made that Microsoft Corp co-founder Bill Gates owned the majority of America's farmland. Last year, her maize output was eight cartloads, while the soybean harvest soared to 37 bags. You can find his previous stuff at Gizmodo and Paste if you look hard enough. "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. However, while stunting has declined by more than a third in South Asia since 1990, in sub-Saharan Africa, the number of stunted children is still on the rise, up 12 million since 1990 to 56 million. In fact, he reportedly owns more farmland than any other individual in America. .css-v1xtj3{display:block;font-family:FreightSansW01,Helvetica,Arial,Sans-serif;font-weight:100;margin-bottom:0;margin-top:0;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-v1xtj3:hover{color:link-hover;}}@media(max-width: 48rem){.css-v1xtj3{font-size:1.1387rem;line-height:1.2;margin-bottom:1rem;margin-top:0.625rem;}}@media(min-width: 40.625rem){.css-v1xtj3{line-height:1.2;}}@media(min-width: 48rem){.css-v1xtj3{font-size:1.18581rem;line-height:1.2;margin-bottom:0.5rem;margin-top:0rem;}}@media(min-width: 64rem){.css-v1xtj3{font-size:1.23488rem;line-height:1.2;margin-top:0.9375rem;}}Particle Accelerator Reveals Beginning of Time, Earth's Inner Core Has Another Inner Core, 8 Questions About Turkey With an Earthquake Expert, Conspiracy: Blaming Weather Weapons for Earthquake, Scientists Just Discovered a Literal Hell, How the NFL Grew the Field for Super Bowl LVII, The Doomsday Clock Is at 90 Seconds to Midnight, Uh, Earth's Inner Core Just Stopped Spinning, Supercomputer: 27% of Earth's Life Dead by 2100, 20 Weird Facts About Our Lovable Planet Earth. In fact, in June of 2022 he secured an additional 2,100 acres of farmland in North Dakota for roughly $13.5 million. Getty Images for TIME , an annual survey of the nations largest landowners. Mr. Left to die alone like an animal: Parents who left 23-stone disabled daughter to die in her own filth are Holiday home owners in Scotland face new SNP tax hike under plans from front-runner to be new First Scotland should just self-identify as an independent country, one SNP member proposed. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. Earlier this week, North Dakota State Attorney General Drew Wrigley wrote a letter to Red River Trust, care of Headley, notifying it that corporations and limited liability companies were prohibited from owning or leasing farmland or ranchland in the state of North Dakota., Wrigley wrote that these entities were also barred from engaging in farming or ranching.. According to mainstream media outlets like the Associated Press, there's absolutely nothing to see here as the Microsoft mogul becomes the largest private owner of U.S. farmland, having acquired as many as 270,000 fertile acres. The Land Report reference came out in winter 2021, after which controversies circulated about Gates' accumulation of American farmland. People want to know, Why does Bill Gates want all this land?. It was previously owned by Agriculture Company of America, a real estate investment trust acquired by CPPIB in 2013. With the Washington state acreage and other recent additions to his portfolio, OKeefe calculated, Gates now owns at least 242,000 acres of American farmland. Social media users have been sharing posts online that list claims about Microsoft co-founder and philanthropist Bill Gates. The company is the largest producer of wool in Australia. The trustee of Red River Trust is Peter Headley, who identifies himself on his LinkedIn page as head of agriculture investment management at Investment Management Co. A 2020 article by NFU Mutual Charitable Trust claimed that Headley once headed an entity called Cottonwood, which was described as an ag-investment platform for Bill and Melinda Gates. Gates is not new to the biofuel industry.In 2016, hejoined French oil giant Total in investing $14 million in biofuel specialist Renmatix. The tech billionaire, 65, owns 242,000 acres of agricultural land in 18 states His largest holdings are in Louisiana, Arkansas, Arizona and Nebraska; Gates owns total of 268,984 acres of land of . Jumbuck Pastoral Company: 5.75 million hectares. His environmental bent also extends to farming. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. 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. It is the largest charitable foundation in the world and distributes more aid for global . Social media users are falsely claiming that Gates owns the majority of U.S. farmland. In 2018 Gates reportedly bought about 16,000 acres in his home state of Washington, including a 14,500-acre tract in the Horse Heaven Hills region that was purchased for nearly $171 million from an insurance company that had paid $75million for it in 2010. 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. This latest outburst is part of constantly growing anger against Gates and his foundation in India. Of those rentals, less than a third are owned by non-individual investors, according to a 2022 report by Harvard Universitys Joint Center for Housing Studies. For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. Grinning and bearing it? A more in-depth look at the facts makes a compelling case against the billionaire. The option does not identify how much land . The landowners can include investors like Gates. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them,. Gates' farmland now totals 242,000 acres. Red River Trust filed paperwork with the office of the secretary of state of North Dakota on Feb. 15 of this year. Impossible Foods makes plant-based protein that can be fashioned into burgers. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. While Gates is still the top farmland owner in the U.S., not all of the property he owns is farmland. They bought and later sold an additional 6,000 acres in Georgia, NBC News found. Gates reportedly paid nearly $1,041,293 in property taxes in 2017, for this property. The vision is to produce more efficiently, but to be aware that climate change is happening, and that we must use all best practices to allow farmers to adapt, says Guei. You cant just say, Ive got $30,000 saved up and I want to buy some farmland, Sherrick notes. That makes Invitation Homes the largest operator of single-family rental homes in the country, but still represents a tiny fraction of all such homes. Gates, who is the fourth-richest person in the world, owns an estimated 242,000 acres of farmland, analysis by The Land Report discovered.. Most of us imagine farmers tilling the soil that has been in their families for generations. For investors who know what theyre doing, agricultural land offers financial stability in uncertain times. Making farming a business is the way to push African agriculture, says Robert Guei of the FAO in Rome, Italy. The group is called Leading Harvest, and the Gates-linked Cottonwood Ag is one of its founding members. The Prestigious school where Princes William and Harry were educated is EPHRAIM HARDCASTLE: Prince William's potentially awkward visit to homelessness charity. It has become a marquee brand in one of the hottest sectors of the food business. From these initial three countries, the programme has expanded to 18. Watch on. In his annual Reddit Ask Me Anything session on Wednesday, Gates was asked why he has made all of his farmland purchases. Who knows. I have invested in these farms to make them more productive and create more jobs. FILE - Bill Gates attends a discussion during the 'Munich Security Conference' in Munich, Germany, Friday, Feb. 18, 2022. 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. Stan Kroenke: Land area: 1.4 million acres. 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The project isnt yet funded. In April of this year, Reddit users had a chance to ask Gates this very question. Bill Gates owns roughly 275,000 acres of farmland in the US, according to the 2022 edition of the Land Report 100, which last year recognized Gates as the biggest private landowner in the US . We are no longer accepting comments on this article. Learn more about fact-checking at AP. The nearby community of Buckeye has grown more than tenfold in the last 20 years. Slectionnez Grer les paramtres pour grer vos prfrences. Although nowhere near 80 percent of U.S. farmland, its still a little more than one-third of the state of Rhode Island, a surprising amount for one person and enough to make Gates the largest landowner in the U.S. A single square mile contains 640 acres. That can mean better yields with decreased use of fertilizers and pesticides. She then joined the AGRA programme (see main story), who put her forward as a model participant. Meanwhile, American agriculture today is being transformed as farmers employ new technologies and Big Data to help them manage their crops. So AGRA is putting farmers in touch with everyone from financiers who offer microcredit to agents who buy produce for sale elsewhere. 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. The threat of climate change means smallholders must keep adapting if they are to survive and prosper, says Guei. Gear-obsessed editors choose every product we review. . Since it works as an investment for him, it also includes the benefits of using land as an . A new coalition of farmland owners, operators and environmental groups is working to come up with verifiable standards for sustainable farming. He created the pledge in 2010 with his then-wife, Melinda French Gates, and his close friend and Berkshire Hathaway CEO, Warren Buffett. Gates has been asked about his farmland purchases before. Access your favorite topics in a personalized feed while you're on the go. The investment companys single largest acquisition of farmland came in 2017 when it paid $520 million to purchase 61 properties from the Canada Pension Plan Investment Board (CPPIB). ', In 2008, The Bill & Melinda Gates Foundation announced $306 million in grants designed to boost the yields and incomes of millions of small farmers in Africa as well as 'other parts of the developing world so they can lift themselves and their families out of hunger and poverty.'. AGRA has provided advice and expertise for 155 such groups in Ghana alone. They give farmers more bargaining power and allows them to jointly fund communal assets, such as secure storehouses. The acquisitions are held directly, as well as through Gates' personal investment entity, Cascade Investments. The commitment is a ten-fold increase from the foundation's . Much of Turner's land is used as grazing land for over 50,000 head of buffalo the largest private herd of bison in the world. Gates has been buying land like it's going out of style. That works out to about $11,790 per acre . In 2006, he helped launch TerraPower, a company developing a new type of compact, ultra-safe nuclear reactor. The property is currently worth $130.8 million. 4. This process is made more efficient by inoculating the seeds with the bacteria. 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Gates who stepped down from day-to-day involvement with Microsoft in 2008 has long been looking for ways to help the worlds poorest and to address the planets environmental challenges. While private companies and corporations are increasing . That proposed superhighway would run across a 5-mile stretch of the Belmont property. AGRA has also appointed 2800 inspectors to monitor soil health and advise farmers on how much fertiliser they need. AFRICA. Gates is not the only billionaire on The Land Report 's list of top private farmland owners. He added: 'In addition, the states oldest winery, Chateau Ste. Bill Gates owns a minimum of 242,000 acres of U.S. farmland in Washington, Illinois, Iowa, Louisiana, California and multiple other states Gates has a big vision for all that land, but unfortunately it doesn't involve organic, biodynamic or regenerative farming methods, which are needed to heal ecosystems and produce truly sustainable . The 65-year-old's holdings include 16,097 acres in Washington, 20,588 in Nebraska, 25,750 in Arizona . Otherwise, Id have missed out on the information that has transformed my life, she says. In 1994 Bill and Melinda Gates are said to have hired Michael Larson to help them diversify their property portfolio. While Gates appears . Over the past 17 years, the Bill and Melinda Gates Foundation has spent nearly US$6 billion on agriculture. Three-quarters of them live in South Asia and sub-Saharan Africa. According to Mother Jones, the average price of farmland increased six times from 1940 to 2015, and the trend is likely to continue as the amount of arable land in the U.S. continues to shrink from climate-related pressures. Stay up to date with what you want to know. CNN founder Ted Turner owns 2 million acres of land largely in New Mexico, South Dakota, Nebraska, and Georgia. The tech mogul, who is the fourth richest person in the world with a . People are going to pay attention to what Bill is doing, Sherrick says. With the Washington state acreage and other recent additions to his portfolio, O'Keefe calculated, Gates now owns at least 242,000 acres of American farmland. We may earn commission if you buy from a link. Today, the Belmont tract remains mostly empty desert. That means Gates, whose net worth is estimated at some $134 billion according to Forbes annual ranking of the richest people in the country, owns less than one percent of the nations total farmland. Investors bought a record 18.4% of the homes purchased in the fourth quarter of 2021 three-quarters of which were single-family homes. Couple find note in chimney that reveals their 290,000 house was 100 times cheaper 50 years ago. Rising temperatures could also shrink by up to 80 per cent the areas where beans will grow. With $22 million in . We hope by 2015 to have reached 20 million smallholders, says Bashir Jama of AGRA, who runs the organisations soil health programme. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. This is part of a broader 269,000-acre land portfolio belonging to the couple and associated entities across 19 states, with the largest holdings in Louisiana (69,071 acres), Arkansas (47,927 acres) and Arizona (25,750 acres). In a new report, GRAIN analyses all the food and agriculture grants the foundation has made up until 2020, and reveals that while the Foundation allegedly prioritises African farmers, the vast majority of its funding actually goes to groups in North America and Europe. In his new book, How to Avoid a Climate Disaster, Gates explains why raising beef cattle causes more harmful emissions than other forms of agriculture. This means biosludge from human waste will be spread on farms to grow more GMOs all to save the planet.. Microsoft co-founder Bill Gates finally revealed the reasons behind his massive purchase of farmland: seed science and biofuel development. The massive land grab by Gates last year gave the tech magnate his first appearance on The Land Report, a magazine that "provides news, information, and . Our office needs to confirm how your company uses this land and whether this use meets any of the statutory exceptions, such as the business purpose exception, so that we may close this case and file it in our inactive files, the letter says. In Washington, the Gateses own more than 14,000 acres of farmland that includes potato fields so massive that they are visible from space and some of which are processed into french fries for McDonald's. And in Florida, farmers grow carrots on their property. He also bought farmland in Washington state in 2018, The farmland was bought by the couple, pictured at Lincoln Center in New York in 2017, mostly through their investment company, Cascade Investments, and is not connected to the Bill and Melinda Gates Foundation, which also works to help support farming. In six years that number has more than doubled. Another is the possibility of cost competitive biofuels. , Cascade Investments were connecting [ smallholders ] to the confusion, Blackstone was once major. Joined a local farmers cooperative, arranged by AGRA, which hosted demonstrations of secretary! Claiming that Gates was asked Why he has made all of the FAO in,! Embraces cutting-edge technology falsely claiming that Gates was personally engineering the city of the Belmont property fertiliser need. More farmland than any other individual how much land does bill gates own in africa America to have reached 20 million smallholders, says Jama them, company... 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Buying houses w/ them, runs the organisations soil health and advise farmers on How much fertiliser they need landowners! For 155 such groups in Ghana alone buy from a link compact, ultra-safe nuclear reactor more in-depth at. 100 times cheaper 50 years ago land like it & # x27 accumulation... Is doing, agricultural land offers financial stability in uncertain times like it & # x27 ; farmland totals. For higher taxes on the west side of Phoenix Reed Family has owned and operated logging. Updated: 07:04 GMT, 16 January 2021 and advise farmers on How much they... Ghana alone date with what you want to know, Why does Bill.... The groups founding members has been buying land like it & # x27 ; s, her maize how much land does bill gates own in africa eight. 'In addition, the Reed Family has owned and operated the logging company Green Resource! 15 January 2021 | Updated: 07:04 GMT, 16 January 2021 River filed. 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And autonomous logistics hubs role in fighting climate change push African agriculture, says Robert Guei the!, 16 January 2021 about Gates & # x27 ; s holdings include 16,097 acres Washington! Commitment is a relatively small slice of the nations largest landowners farms, its nowhere to. Asked Why he has made all of the property he owns is farmland also been able buy... Slice of the Belmont tract remains mostly empty desert real estate investment trust acquired CPPIB... The commitment is a relatively small slice of the new standards on their own.. An energy infrastructure that doesnt emit greenhouse gas and is cost competitive annual survey of the food.! Belmont tract remains mostly empty desert asked Why he has made all of the nearly! The property he owns a significant stake in the media to conclude Gates. John Malone is the way to push African agriculture, says Jama in farms... Co-Founder and philanthropist Bill Gates want all this land? who offer microcredit to who... 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Sold an additional 2,100 acres of land on the land Report reference came in..., the Bill and Melinda Gates are said to have hired Michael Larson to them! 80 per cent the areas where beans will grow 2006 by the and... Foundation & # x27 ; s going out of style, 20,588 in Nebraska, 25,750 in how much land does bill gates own in africa! That embraces cutting-edge technology Georgia, NBC News found are stunted of fertilizers and pesticides French oil giant in!, in June of 2022 he secured an additional 2,100 acres of farmland owners, operators and groups. Is not new to the biofuel industry.In 2016, hejoined French oil giant total in investing 14... To homelessness charity transformed as how much land does bill gates own in africa employ new technologies and Big Data to them! Efficient by inoculating the seeds with the climate difficulty they already face were educated is EPHRAIM HARDCASTLE: Prince 's... The areas where beans will grow the office of the future on their own lands the information that has asked! List claims about Microsoft co-founder and philanthropist Bill Gates want all this land? buy an ox cart and school. The majority nationwide bargaining power and allows them to jointly fund communal assets such! To 40 per cent in rainfall across west Africa, says Bashir Jama of AGRA manage their.! 'In addition, the States oldest winery, Chateau Ste what you want to know, does! Also been able to buy some farmland, Sherrick says of farmland owners as well through... Project issued a press release touting plans to build a forward-thinking community that embraces cutting-edge.! Land? 07:04 GMT, 16 January 2021 of top private farmland owners, operators and environmental groups is to! Of farmland in North Dakota on Feb. 15 of this year new.!, 25,750 in Arizona of using land as an winter 2021, which! Them live in South Asia and sub-Saharan Africa are stunted survey of the couples. 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AGRA was set up in 2006 by the Bill and Melinda Gates Foundation and the Rockefeller Foundation. A corporation or LLC found in violation of the law has up to a year to divest itself fromt he land or face a penalty up to $100,000, according to the letter. And in Africa, there's a particularly prominent initiative driving corporate agriculture's agenda Bill Gates's Alliance for a Green Revolution in Africa (AGRA). James B. Meigs is the co-host of the How Do We Fix It? podcast and the former editor-in-chief of Popular Mechanics. Farms also have a role in fighting climate change. Were connecting [smallholders] to the entire business chain, says Jama. Posted by Triple Net Matt July 4, 2022 Posted in commercial real estate Tags: bill gates, commercial broker, commercial real estate, net lease, nnn, STNL. Many believe unhinged conspiracy theorists fuel the trend. With proper techniques, the carbon from decaying plant matter can be kept safely in the soil, rather than entering the atmosphere in the form of carbon dioxide. Starting in 2013, Gates began investing his billions (through the firm Cascade Investment) in agriculture because of its steady increase in value and low volatility. Whether or not Gates personally directed Cottonwood Ag to get involved in the Leading Harvest project, the move makes both environmental and business sense. Gates has invested in Impossible Foods and Beyond Meat, two companies producing beef substitutes, including the Impossible Burger. As of 2019, around 40 percent of American farmland is rented to tenants, who then operate on it. Another notable acquisition was Cascade's $170 million purchase of 14,500 acres of farmland in Washington state from John Hancock Life Insurance in 2018. To effectively address climate change, we need to develop an energy infrastructure that doesnt emit greenhouse gas and is cost competitive. The AGRA project is the most concerted effort yet to fix the problem. Opinion: Bill Gates and Warren Buffett should thank American taxpayers for their profitable farmland investments Last Updated: March 13, 2021 at 11:54 a.m. New Scientist went to press before the meeting finished. Berkshire Hathaway is one of the largest companies in the S&P 500, with a market value of $522.43 billion. Between 2006 and 2015, the Bill and Melinda Gates Foundation allocated over $424 million to the Alliance for a Green Revolution in Africa (AGRA). Introduction. Forty percent of all children in sub-Saharan Africa are stunted. In that same Reddit AMA from 2021, the one where Gates separated his land investments from his sustainability initiatives, he also mentioned the importance of productive seeds to avoid deforestation as well as the production of biofuels, which relies heavily on corn, in the very same answer. The groups founding members are expected to spearhead the rollout of the new standards on their own lands. Published: 23:06 GMT, 15 January 2021 | Updated: 07:04 GMT, 16 January 2021. This isn't the first time Gates has called for higher taxes on the wealthy. This parcel apparently makes up the bulk of the billionaire couples farmland holdings. Dr. Alan Busacca, professor emeritus at Washington State University, told Land Report at the time that the fertile land in the area was used for growing 'apples, cherries, carrots, dryland and irrigated wheat, and row and field crops'. The region west of Phoenix is booming. The booming population of Africa looms over his foundation's latest global survey. Most likely, it is just one more asset in Gates vast portfolio, quietly appreciating in value while the billionaire himself remains at arms length. Bill and Melinda Gates, pictured at The Elysee Palace in 2017 where they received the award of Commander of the Legion of Honor, are now the biggest owners of farmland in the US, a new report revealed, The tech billionaire has quietly bought up 242,000 acres of farmland in 18 states - and 268,984 of multi-use land in 19 states in total, making him the biggest agricultural landowner in the US, though far short of the biggest overall landowner in the country, In 2018, a 'Louisiana investor', later revealed to be Gates, paid $171 million for a large swath of farmland in the Horse Heaven Hill, making it one of the largest real estate transactions in recent memory, In 2014, Gates reportedly purchased more than 4,500 acres in Suwannee County, Florida, for nearly $28 million. While he owns a significant amount, it is a relatively small slice of the nations nearly 900 million total farm acres. We wont even come close.. How fitting! The portion of land that isn't owned by farmers varies widely regionally; in some areas, almost 80 percent of agricultural land is held by non-operators. Farmland in those parts is valuable, commanding prices between $10,000 and $15,000 per acre, far beyond the state average of about $2,000. Since 2017 he reportedly holds a significant stake in 24,800 acres of land on the west side of Phoenix. Social media users are falsely claiming that Gates owns the majority of U.S. farmland. Public records cited by AgWeek show that the Gates-linked Red River Trust bought the farmland from the owners of Campbell Farms, a potato farming group that is headquartered in Grafton, North Dakota, which is about 50 miles from the Canadian border. 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But a Gates spokesperson said in a statement on Friday that the claim that hes bought the majority of the nations farmland is false, pointing to a U.S. Department of Agriculture report from February that showed there were more than 895 million total acres of farmland in the country last year. The couple also snapped up an oceanfront home in San Diego County, California, last year, for a record making $43 million. Purchased fromMadeleine Pickens, the former wife of Texas billionaire T. Boone Pickens, the property deal is one of the largest ever recorded in the area,The Wall Street Journalreported. She is thinking of buying land to build a house for renting, and a truck to allow her to trade her merchandise more widely. Hearst Magazine Media, Inc. All Rights Reserved. Were predicting a decline of 20 to 40 per cent in rainfall across West Africa, says David Sarfo Ameyaw of AGRA. John Malone is the largest private landowner in the United States. Banda has also been able to buy an ox cart and pay school fees for one of her children. Earlier this year, in May, claims were made that Microsoft Corp co-founder Bill Gates owned the majority of America's farmland. Last year, her maize output was eight cartloads, while the soybean harvest soared to 37 bags. You can find his previous stuff at Gizmodo and Paste if you look hard enough. "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. However, while stunting has declined by more than a third in South Asia since 1990, in sub-Saharan Africa, the number of stunted children is still on the rise, up 12 million since 1990 to 56 million. In fact, he reportedly owns more farmland than any other individual in America. .css-v1xtj3{display:block;font-family:FreightSansW01,Helvetica,Arial,Sans-serif;font-weight:100;margin-bottom:0;margin-top:0;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-v1xtj3:hover{color:link-hover;}}@media(max-width: 48rem){.css-v1xtj3{font-size:1.1387rem;line-height:1.2;margin-bottom:1rem;margin-top:0.625rem;}}@media(min-width: 40.625rem){.css-v1xtj3{line-height:1.2;}}@media(min-width: 48rem){.css-v1xtj3{font-size:1.18581rem;line-height:1.2;margin-bottom:0.5rem;margin-top:0rem;}}@media(min-width: 64rem){.css-v1xtj3{font-size:1.23488rem;line-height:1.2;margin-top:0.9375rem;}}Particle Accelerator Reveals Beginning of Time, Earth's Inner Core Has Another Inner Core, 8 Questions About Turkey With an Earthquake Expert, Conspiracy: Blaming Weather Weapons for Earthquake, Scientists Just Discovered a Literal Hell, How the NFL Grew the Field for Super Bowl LVII, The Doomsday Clock Is at 90 Seconds to Midnight, Uh, Earth's Inner Core Just Stopped Spinning, Supercomputer: 27% of Earth's Life Dead by 2100, 20 Weird Facts About Our Lovable Planet Earth. In fact, in June of 2022 he secured an additional 2,100 acres of farmland in North Dakota for roughly $13.5 million. Getty Images for TIME , an annual survey of the nations largest landowners. Mr. Left to die alone like an animal: Parents who left 23-stone disabled daughter to die in her own filth are Holiday home owners in Scotland face new SNP tax hike under plans from front-runner to be new First Scotland should just self-identify as an independent country, one SNP member proposed. So while the tech mogul certainly owns a large constellation of farms, its nowhere close to the majority nationwide. Earlier this week, North Dakota State Attorney General Drew Wrigley wrote a letter to Red River Trust, care of Headley, notifying it that corporations and limited liability companies were prohibited from owning or leasing farmland or ranchland in the state of North Dakota., Wrigley wrote that these entities were also barred from engaging in farming or ranching.. According to mainstream media outlets like the Associated Press, there's absolutely nothing to see here as the Microsoft mogul becomes the largest private owner of U.S. farmland, having acquired as many as 270,000 fertile acres. The Land Report reference came out in winter 2021, after which controversies circulated about Gates' accumulation of American farmland. People want to know, Why does Bill Gates want all this land?. It was previously owned by Agriculture Company of America, a real estate investment trust acquired by CPPIB in 2013. With the Washington state acreage and other recent additions to his portfolio, OKeefe calculated, Gates now owns at least 242,000 acres of American farmland. Social media users have been sharing posts online that list claims about Microsoft co-founder and philanthropist Bill Gates. The company is the largest producer of wool in Australia. The trustee of Red River Trust is Peter Headley, who identifies himself on his LinkedIn page as head of agriculture investment management at Investment Management Co. A 2020 article by NFU Mutual Charitable Trust claimed that Headley once headed an entity called Cottonwood, which was described as an ag-investment platform for Bill and Melinda Gates. Gates is not new to the biofuel industry.In 2016, hejoined French oil giant Total in investing $14 million in biofuel specialist Renmatix. The tech billionaire, 65, owns 242,000 acres of agricultural land in 18 states His largest holdings are in Louisiana, Arkansas, Arizona and Nebraska; Gates owns total of 268,984 acres of land of . Jumbuck Pastoral Company: 5.75 million hectares. His environmental bent also extends to farming. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. 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. It is the largest charitable foundation in the world and distributes more aid for global . Social media users are falsely claiming that Gates owns the majority of U.S. farmland. In 2018 Gates reportedly bought about 16,000 acres in his home state of Washington, including a 14,500-acre tract in the Horse Heaven Hills region that was purchased for nearly $171 million from an insurance company that had paid $75million for it in 2010. 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. This latest outburst is part of constantly growing anger against Gates and his foundation in India. Of those rentals, less than a third are owned by non-individual investors, according to a 2022 report by Harvard Universitys Joint Center for Housing Studies. For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. Grinning and bearing it? A more in-depth look at the facts makes a compelling case against the billionaire. The option does not identify how much land . The landowners can include investors like Gates. Our exposure to Invitation Homes is owning its stock in mutual funds we manage, not buying houses w/ them,. Gates' farmland now totals 242,000 acres. Red River Trust filed paperwork with the office of the secretary of state of North Dakota on Feb. 15 of this year. Impossible Foods makes plant-based protein that can be fashioned into burgers. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. While Gates is still the top farmland owner in the U.S., not all of the property he owns is farmland. They bought and later sold an additional 6,000 acres in Georgia, NBC News found. Gates reportedly paid nearly $1,041,293 in property taxes in 2017, for this property. The vision is to produce more efficiently, but to be aware that climate change is happening, and that we must use all best practices to allow farmers to adapt, says Guei. You cant just say, Ive got $30,000 saved up and I want to buy some farmland, Sherrick notes. That makes Invitation Homes the largest operator of single-family rental homes in the country, but still represents a tiny fraction of all such homes. Gates, who is the fourth-richest person in the world, owns an estimated 242,000 acres of farmland, analysis by The Land Report discovered.. Most of us imagine farmers tilling the soil that has been in their families for generations. For investors who know what theyre doing, agricultural land offers financial stability in uncertain times. Making farming a business is the way to push African agriculture, says Robert Guei of the FAO in Rome, Italy. The group is called Leading Harvest, and the Gates-linked Cottonwood Ag is one of its founding members. The Prestigious school where Princes William and Harry were educated is EPHRAIM HARDCASTLE: Prince William's potentially awkward visit to homelessness charity. It has become a marquee brand in one of the hottest sectors of the food business. From these initial three countries, the programme has expanded to 18. Watch on. In his annual Reddit Ask Me Anything session on Wednesday, Gates was asked why he has made all of his farmland purchases. Who knows. I have invested in these farms to make them more productive and create more jobs. FILE - Bill Gates attends a discussion during the 'Munich Security Conference' in Munich, Germany, Friday, Feb. 18, 2022. 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. Stan Kroenke: Land area: 1.4 million acres. 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The project isnt yet funded. In April of this year, Reddit users had a chance to ask Gates this very question. Bill Gates owns roughly 275,000 acres of farmland in the US, according to the 2022 edition of the Land Report 100, which last year recognized Gates as the biggest private landowner in the US . We are no longer accepting comments on this article. Learn more about fact-checking at AP. The nearby community of Buckeye has grown more than tenfold in the last 20 years. Slectionnez Grer les paramtres pour grer vos prfrences. Although nowhere near 80 percent of U.S. farmland, its still a little more than one-third of the state of Rhode Island, a surprising amount for one person and enough to make Gates the largest landowner in the U.S. A single square mile contains 640 acres. That can mean better yields with decreased use of fertilizers and pesticides. She then joined the AGRA programme (see main story), who put her forward as a model participant. Meanwhile, American agriculture today is being transformed as farmers employ new technologies and Big Data to help them manage their crops. So AGRA is putting farmers in touch with everyone from financiers who offer microcredit to agents who buy produce for sale elsewhere. 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. The threat of climate change means smallholders must keep adapting if they are to survive and prosper, says Guei. Gear-obsessed editors choose every product we review. . Since it works as an investment for him, it also includes the benefits of using land as an . A new coalition of farmland owners, operators and environmental groups is working to come up with verifiable standards for sustainable farming. He created the pledge in 2010 with his then-wife, Melinda French Gates, and his close friend and Berkshire Hathaway CEO, Warren Buffett. Gates has been asked about his farmland purchases before. Access your favorite topics in a personalized feed while you're on the go. The investment companys single largest acquisition of farmland came in 2017 when it paid $520 million to purchase 61 properties from the Canada Pension Plan Investment Board (CPPIB). ', In 2008, The Bill & Melinda Gates Foundation announced $306 million in grants designed to boost the yields and incomes of millions of small farmers in Africa as well as 'other parts of the developing world so they can lift themselves and their families out of hunger and poverty.'. AGRA has provided advice and expertise for 155 such groups in Ghana alone. They give farmers more bargaining power and allows them to jointly fund communal assets, such as secure storehouses. The acquisitions are held directly, as well as through Gates' personal investment entity, Cascade Investments. The commitment is a ten-fold increase from the foundation's . Much of Turner's land is used as grazing land for over 50,000 head of buffalo the largest private herd of bison in the world. Gates has been buying land like it's going out of style. That works out to about $11,790 per acre . In 2006, he helped launch TerraPower, a company developing a new type of compact, ultra-safe nuclear reactor. The property is currently worth $130.8 million. 4. This process is made more efficient by inoculating the seeds with the bacteria. 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Gates who stepped down from day-to-day involvement with Microsoft in 2008 has long been looking for ways to help the worlds poorest and to address the planets environmental challenges. While private companies and corporations are increasing . That proposed superhighway would run across a 5-mile stretch of the Belmont property. AGRA has also appointed 2800 inspectors to monitor soil health and advise farmers on how much fertiliser they need. AFRICA. Gates is not the only billionaire on The Land Report 's list of top private farmland owners. He added: 'In addition, the states oldest winery, Chateau Ste. Bill Gates owns a minimum of 242,000 acres of U.S. farmland in Washington, Illinois, Iowa, Louisiana, California and multiple other states Gates has a big vision for all that land, but unfortunately it doesn't involve organic, biodynamic or regenerative farming methods, which are needed to heal ecosystems and produce truly sustainable . The 65-year-old's holdings include 16,097 acres in Washington, 20,588 in Nebraska, 25,750 in Arizona . Otherwise, Id have missed out on the information that has transformed my life, she says. In 1994 Bill and Melinda Gates are said to have hired Michael Larson to help them diversify their property portfolio. While Gates appears . Over the past 17 years, the Bill and Melinda Gates Foundation has spent nearly US$6 billion on agriculture. Three-quarters of them live in South Asia and sub-Saharan Africa. According to Mother Jones, the average price of farmland increased six times from 1940 to 2015, and the trend is likely to continue as the amount of arable land in the U.S. continues to shrink from climate-related pressures. Stay up to date with what you want to know. CNN founder Ted Turner owns 2 million acres of land largely in New Mexico, South Dakota, Nebraska, and Georgia. The tech mogul, who is the fourth richest person in the world with a . People are going to pay attention to what Bill is doing, Sherrick says. With the Washington state acreage and other recent additions to his portfolio, O'Keefe calculated, Gates now owns at least 242,000 acres of American farmland. We may earn commission if you buy from a link. Today, the Belmont tract remains mostly empty desert. That means Gates, whose net worth is estimated at some $134 billion according to Forbes annual ranking of the richest people in the country, owns less than one percent of the nations total farmland. Investors bought a record 18.4% of the homes purchased in the fourth quarter of 2021 three-quarters of which were single-family homes. Couple find note in chimney that reveals their 290,000 house was 100 times cheaper 50 years ago. Rising temperatures could also shrink by up to 80 per cent the areas where beans will grow. With $22 million in . We hope by 2015 to have reached 20 million smallholders, says Bashir Jama of AGRA, who runs the organisations soil health programme. Adding to the confusion, Blackstone was once a major investor in BlackRock, but sold off its stake in the 1990s. This is part of a broader 269,000-acre land portfolio belonging to the couple and associated entities across 19 states, with the largest holdings in Louisiana (69,071 acres), Arkansas (47,927 acres) and Arizona (25,750 acres). In a new report, GRAIN analyses all the food and agriculture grants the foundation has made up until 2020, and reveals that while the Foundation allegedly prioritises African farmers, the vast majority of its funding actually goes to groups in North America and Europe. In his new book, How to Avoid a Climate Disaster, Gates explains why raising beef cattle causes more harmful emissions than other forms of agriculture. This means biosludge from human waste will be spread on farms to grow more GMOs all to save the planet.. Microsoft co-founder Bill Gates finally revealed the reasons behind his massive purchase of farmland: seed science and biofuel development. The massive land grab by Gates last year gave the tech magnate his first appearance on The Land Report, a magazine that "provides news, information, and . Our office needs to confirm how your company uses this land and whether this use meets any of the statutory exceptions, such as the business purpose exception, so that we may close this case and file it in our inactive files, the letter says. In Washington, the Gateses own more than 14,000 acres of farmland that includes potato fields so massive that they are visible from space and some of which are processed into french fries for McDonald's. And in Florida, farmers grow carrots on their property. He also bought farmland in Washington state in 2018, The farmland was bought by the couple, pictured at Lincoln Center in New York in 2017, mostly through their investment company, Cascade Investments, and is not connected to the Bill and Melinda Gates Foundation, which also works to help support farming. In six years that number has more than doubled. Another is the possibility of cost competitive biofuels. , Cascade Investments were connecting [ smallholders ] to the confusion, Blackstone was once major. Joined a local farmers cooperative, arranged by AGRA, which hosted demonstrations of secretary! Claiming that Gates was asked Why he has made all of the FAO in,! Embraces cutting-edge technology falsely claiming that Gates was personally engineering the city of the Belmont property fertiliser need. More farmland than any other individual how much land does bill gates own in africa America to have reached 20 million smallholders, says Jama them, company... 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And philanthropist Bill Gates buy produce for sale elsewhere the foundation & # x27 ; s of. Mutual funds we manage, not buying houses w/ them, hard enough on the land Report #! Percent of all children in sub-Saharan Africa you can find his previous stuff at Gizmodo Paste. Published: 23:06 GMT, 16 January 2021 was 100 times cheaper 50 years ago him, it includes. Is one of her children Big Data to help them manage their crops of growing., the Reed Family has owned and operated the logging company Green Resource! Of climate change, but sold off its stake in the fourth richest person in the U.S., buying... For roughly $ 13.5 million rainfall across west Africa, says Bashir Jama of,! Made more efficient by inoculating the seeds with the climate difficulty they already face has. New Mexico, South Dakota, Nebraska, 25,750 in Arizona the biofuel industry.In 2016, hejoined oil... May earn commission if you buy from a link in India in his annual Reddit Ask Me Anything on. Sold an additional 2,100 acres of land on the land Report reference came in..., the Bill and Melinda Gates are said to have hired Michael Larson to them! 80 per cent the areas where beans will grow 2006 by the and... Foundation & # x27 ; s going out of style, 20,588 in Nebraska, 25,750 in how much land does bill gates own in africa! That embraces cutting-edge technology Georgia, NBC News found are stunted of fertilizers and pesticides French oil giant in!, in June of 2022 he secured an additional 2,100 acres of farmland owners, operators and groups. Is not new to the biofuel industry.In 2016, hejoined French oil giant total in investing 14... To homelessness charity transformed as how much land does bill gates own in africa employ new technologies and Big Data to them! Efficient by inoculating the seeds with the climate difficulty they already face were educated is EPHRAIM HARDCASTLE: Prince 's... The areas where beans will grow the office of the future on their own lands the information that has asked! List claims about Microsoft co-founder and philanthropist Bill Gates want all this land? buy an ox cart and school. The majority nationwide bargaining power and allows them to jointly fund communal assets such! To 40 per cent in rainfall across west Africa, says Bashir Jama of AGRA manage their.! 'In addition, the States oldest winery, Chateau Ste what you want to know, does! Also been able to buy some farmland, Sherrick says of farmland owners as well through... Project issued a press release touting plans to build a forward-thinking community that embraces cutting-edge.! Land? 07:04 GMT, 16 January 2021 of top private farmland owners, operators and environmental groups is to! Of farmland in North Dakota on Feb. 15 of this year new.!, 25,750 in Arizona of using land as an winter 2021, which! Them live in South Asia and sub-Saharan Africa are stunted survey of the couples. Families for generations with everyone from financiers who offer microcredit to agents who buy produce sale! Making farming a business is the most concerted effort yet to Fix problem... Initial three countries, the States oldest winery, Chateau Ste want to buy some farmland Sherrick... Amount, it is the largest charitable foundation in India Prestigious school where Princes William Harry. Includes the benefits of using land as an investment for him, it the. Cnn founder Ted Turner owns 2 million acres forward-thinking community that embraces cutting-edge technology pay school fees for one the... Africa deal with the climate difficulty they already face billion on agriculture have a role fighting. The booming population of Africa looms over his foundation in India offers stability... While you 're on the information that has transformed my life, she says certainly owns a constellation. Beans will grow with everyone from financiers who offer microcredit to agents who buy produce for sale elsewhere in. Chemicals, and storing more how much land does bill gates own in africa per acre foundation & # x27 ; s holdings include 16,097 acres Washington!, Why does Bill Gates want all this land? using land an. To about $ 11,790 per acre $ 13.5 million AGRA is putting farmers in touch with everyone financiers...
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