Bill Gates Still Spends Billions On U.S. Farmland, Here's Why!
Did you know that Bill Gates owns more land than the entire city of New York? And get this, Jeff Bezos's land holdings are twice that amount, coming in at a whopping 420,000 acres. But the biggest landowner of them all in America is John Malone, who owns a staggering 2.2 million acres by himself, that's nearly the size of Puerto Rico!
So, what's the deal with the ultra-wealthy buying up all this farmland? What's behind Bill Gates' controversial land purchase in Nebraska? And what does all this mean for the agricultural industry? Let's dive in and explore these questions.
So you see, America is huge, but did you know that 100 of the richest and largest private landowners in the country own 1.86% of all the land available in the United States? Most of this land consists of forests, ranches, and farmland.
Land is becoming more valuable over time. Back in the mid-1990s, farmland was valued at less than $1,500 an acre when adjusted for inflation. By 2020, that value had more than doubled to $3,160 an acre.
However, not everyone is reaping the benefits of these rising farmland prices. While the value of land is going up, many small farmers and new buyers are finding it harder to get into the market. How? Let’s seek an answer to this.
Bill Gates and conspiracy theories seem to go hand in hand. The billionaire can't make a move without sparking wild speculations online. One of the more outlandish theories involves Gates's supposed obsession with U.S. agriculture, with some rumors suggesting he owns as much as 80 percent of all the farmland in the United States.
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