Bill Gates may no longer be the world’s richest man, but he can claim a new title: America’s farm king.
A new report states that the billionaire Microsoft co-founder has become the largest owner of farming in the United States by purchasing large-scale plots across the county.
According to The Land Report, a magazine for land investors tracking the nation’s largest landowners, Gates’ portfolio includes about 242,000 acres of farmland and about 27,000 acres of other land in 19 states.
The largest share of Gates’ holdings is in Louisiana and Arkansas, where he owns 69,071 acres and 47,927 acres, respectively, the outlet’s research found.
He owns about 16,000 acres in his home state of Washington, including a 14,500-acre track in the Horse Haven Hills area that was purchased for about $ 171 million.
According to Bloomberg, the third-richest man in the world by land, according to Gates, Cascade Investment, which owns the land, owns land both directly and indirectly. Report good.
A sign in Gates’ giant Farm Holdings emerged in 2014 in the Wall Street Journal profile of Michael Larsen, who serves as chief investment officer of money manager Cascade. The piece noted that the firm “owns at least 100,000 acres of farmland in California, Illinois, Iowa, Louisiana and other states – or an area seven times larger than Manhattan.”
It is uncertain why Gates has invested in so much farmland or how his tract is currently being used. The outlet said Cascade did not immediately respond to a phone message on Friday and the company declined to comment in The Land Report that “Cascade is very supportive of sustainable farming.”
Agriculture is also an important center for the Bill and Melinda Gates Foundation, a large-scale charity run by Gates and his wife. The Foundation aims to “support country-led inclusive agricultural transformation in Sub-Saharan Africa and South Asia”, according to its website.
While Gates is America’s largest farm owner, he is generally the nation’s largest landowner. According to The Crown Report, the crown belongs to Liberty Media president John Malone, who owns 2.2 million acres.
This article was first published on NYPost.com