A $13.5 million purchase of a North Dakota potato farm is drawing outrage and legal scrutiny. Prior to this in 1999, Bill sold off tons of Microsoft stock to diversify. Investors from the Netherlands own 33% of that land with Canadians owning 25%. 2022. Sign up for notifications from Insider! Their low fees and competitive returns set them apart from many of the other platforms out there. "Our office needs to confirm how your company uses this land and whether this use meets any of the statutory exceptions," the letter said. Many people wonder why Bill Gates would make these moves with his investment portfolio. The Bill & Melinda Gates Foundation is focused partly on agricultural development to support farmers in sub-Saharan Africa and South Asia. While Gates has spent billions investing in agricultural properties to make them more productive, a growing number of retail investors are getting a piece of the real estate market with as little as $100 through companies backed by high-profile investors like Jeff Bezos. LIVE OAK, Fla. -- The investment company that manages the wealth of the world's richest man, Bill Gates, has been acquiring gobs of farmland in north Florida the past two years . He had accumulated more than 269,000 acres of farmland across 18 states in less than a decade. Officially, the general public doesnt know exactly what Bill Gates growing farmland estate is being used for. Alongside his investments, Gates has also purchased farmland in at least 19 states, according to The Land Report. If youve been on the fence about getting into farmland, maybe now is the time to reconsider. Nancy Pelosi (purchased) 10,000 shares of Amgen, manufacturer of Nplate, a drug used to treat radiation sickness.. Why Is Bill Gates Buying So Much Farmland? In a statement to Reuters, editor of The Land Report and author of the article published by the outlet on farmland owned by Gates, Eric O Keefe, called the claim absurd.. Infected flocks are culled to prevent the flu from spreading. RELATED: What Bill Gates has to do with livestock, lab-grown meat, RELATED: Eggflation? As reported by Bloomberg . However, there are also countless farmland investing platforms gaining traction now too. Breitbart News reporter Alana Mastrangelo wrote: Gates is now Americas largest private farmland owner, with hundreds of thousands of acres spanning across 19 U.S. states, according tothe Land Report. The billionaire philanthropist Bill Gates, America's largest farmland owner, apparently bought a potato farm in North Dakota, and local residents aren't too happy about it. No one but Bill Gates knows that answer. Bill Gates just bought almost 3,000 more acres of farmland in North Dakota, a purchase that was eventually cleared by the North Dakota Attorney General even though it raised numerous questions about his intentions and why he has been buying up over a hundred thousand acres of American farmland. stated on February 13, 2023 in a Facebook post, Gates investments in plant-based meat and farmland. Bill Gates investments in farmland can be seen as part of this trend. And many of the American farms Gates owns specialize in produce, such as onions, carrots and potatoes, NBC News reported in 2021. Distance from Michigan to Detroit The shortest route between Michigan and Detroit is, Michigan law is absolutely clear that an adult over the age of 21 shall not sell or furnish alcohol to a minor. In the past 20 years, the foundation has grown to hold over $48 billion. Michigan - 2,167 acres; Mississippi - 16,963 acres; Nebraska - 20,588 acres; New Mexico - 1 acre; North Carolina - 874 . Last year, Gates vowed to give away "virtually all" of his fortune to the philanthropic foundation he runs with French Gates. Hearst Magazine Media, Inc. All Rights Reserved. Is Farmland Partners (FPI) A Good Investment? By Rebecca . Over the last decade, Bill Gates has invested in multiple companies, including Beyond Meat and Impossible Foods, that develop plant-based meat alternatives. Gates does own a lot of farmland. However, the Gates Foundation has been largely transparent at every level of their operations from their objectives, means, successes, and failures. Our only agenda is to publish the truth so you can be an informed participant in democracy. Drinking or using tap water treated with chlorine is dangerous because chlorine is a poison., Obama imposed stricter rules on trains carrying toxins. Why Bill Gates Keeps Buying Up So Much Farmland, 60 Scientists Are Trying to Block the Sun, Your Privacy Choices: Opt Out of Sale/Targeted Ads. Gates, currently the sixth-richest person in the world, has a net worth of $111 billion, according to the Bloomberg Billionaires Index. The old saying about land is they aren't making any more of it. Supply and demand? The 2,100 acre potato farm adds to his massive portfolio of farm investments. Though the Gates Foundation has spent so much time and resources on helping humanity more than any other private entity in history the sheer power their enterprise wields has drawn the attention and fear of many. Momentum accelerated during the 2008-2009 Great Financial Crisis, when investors grew desperate for alternatives to traditional safe haven investments like bonds and gold. Gates and his wife own 269,000 acres of farmland. The billionaire cant seem to do anything without drawing the conspiratorial ire of online netizens. KX News' Josh Meny sat down with Vogel who says the Attorney General's office is impeding her investigation into the purchase. See MCL 436.1701., Michigan taxpayers are allowed to take a number of exemptions, depending on the number of people in the taxpayers household, their ages, and other factors, If the defendant is held for more than 24 hours without being brought before the court under subsection (2), the officer in charge of the, An ORV or off-road vehicle is a motor-driven, recreational vehicle capable of driving on a range of terrains not limited to roadways and, Michigan leads the nation in tart cherry production. Billionaire Bill Gates reportedly shopped for 'hundreds of acres of farmland' in Turkey while vacationing aboard a superyacht that emits an estimated 19 tons of CO2 a day before heading to the . Some experts have pointed to Gatess well-known sustainability and green tech initiatives as a possible reason, but during an earlier Reddit AMA in 2021, Gates said, my investment group chose to do this. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. Thus, before we answer these questions, we are going to provide a brief summary of his financial history. (here). The tweet had gathered over 215,000 likes at the time of writing. A spokesperson for Gates also told Reuters the claim that Gates owns the majority of U.S. farmland was false, pointing to the USDA figures. 2,167 acres. While Gates is still the top farmland owner in the U.S., not all of the property he owns is farmland. China has steadily accumulated U.S. Treasury securities over the last few decades. Accessed 28 Apr. So while Dan Gilbert owns the most property downtown, his 30-odd buildings seem small compared to what Kelly, Tatarian, Moroun, and others own. Bill is now the biggest owner of farmland in 2022 a great hedge asset against rising inflation. For context, Invitation Homes and American Homes 4 Rents combined homes would be less than 1% of the 17.16 million homes, if total housing numbers stayed the same in the last three years. Bill Gates was right when he sold his own Microsoft stock to diversify through Cascade in 1994. Why? Our Standards: The Thomson Reuters Trust Principles. Gates personal farmland portfolio is managed by Michael Larson and Cascade Investment. The agriculture sector is important," Gates wrote. Of those states, Gates owns the most land in Louisiana, where he is proprietor of more than 69,000 acres. The Agriculture Department has said the avian flu outbreak in the U.S. is the main contributor to low inventory and high prices. It reported that as of 2022, Gates owned about 248,000 acres of farmland. Bill Gates owns massive parcels of farmland. Another main feature of the Big Bet is the implementation of the culmination of the Gates Foundations research: specialized GMO seeds for different crops that have been gene edited to be pest-proof, flood proof, disease proof, and climate change-resistant. Gates private office, Gates Ventures, told PolitiFact this claim is false. Gates farmland now totals 242,000 acres. 28. With over 242,000 acres of farmland, Bill Gates is America's biggest farmland owner, and his ownership may be connected to climate change and plant-based meat substitutes. The North Dakota attorney general's office recently inquired into a 2,100-acre farmland purchase by Red River Trust, an entity affiliated with Bill Gates. 20006, Florida Why doesnt everyone just invest in farmland then? In January 2021, Bill Gates became the largest owner of farmland in the United States. How much land does Russia own in the United States? What Asset Class Is Farmland Considered To Be? Gates said during a Reddit AMA: My investment group chose to do this. While there are currently no nationwide food shortages in the United States, nor widespread disruptions in the supply chain, the potential of such shortages caused many people to feel that their food security was suddenly uncertain. Today, Bill Gates owns 242,000 acres of farmland in 19 states. In fact, in June of 2022 he secured an additional 2,100 acres of farmland in North Dakota for roughly $13.5 million. Water bills are soaring in some areas as infrastructure deteriorates, a recent University of Michigan study found. Gates' achievement, according to the report, is that he's largest private owner of farmland in the US. Bill Gates: Americas Top Farmland Owner | The Land Report. Sign up for notifications from Insider! While this is certainly a lot of acreage, it represents less than 1% of all the farmland in the United States. Former Microsoft CEO Bill Gates owns a majority of America's farmland. Top editors give you the stories you want delivered right to your inbox each weekday. The U.S. Federal Government. Official: Michigan State gunman had note threatening 2 New Jersey schools. Bill Gates, and the Chinese, are not just buying up farm land for that purpose. St. Petersburg, FL All rights reserved. Over time, Gates sold personal stock in Microsoft and reinvested it through Cascade Investment. "With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. Read more about our work to fact-check social media posts here . The land was purchased from the owners of Campbell Farms, a potato farming group headquartered in Grafton, North Dakota, approximately 50 miles from the Canadian border. Farmland is what is known as an alternative asset an investment that can grow wealth outside of the stock market. Microsoft co-founder Bill Gates is America's top private farmland owner. In this short period of time, there was a proliferation in funds that were specifically focused on farmland investing. The . as well as other partner offers and accept our. In addition, he owns 25,750 acres of transitional land and 1,234 acres of recreational land for total land holdings of 268,984 acres. In January 2021, Bill Gates became the largest owner of farmland in the United States. More surprising, however, was the fact that Bill and Melinda Gates own more private farmland . While he owns a significant amount, it is a relatively small slice of the nation's nearly 900 million total farm acres. Heres why. Who owns the most property in Detroit Michigan? Farmland as an investment offers low volatility. Gates' farmland purchases, which have mostly been made in the last five years, started in 2017 when he bought $520 million of farmland spread over five dozen properties from the Canada. These claims are not true. His idea, like many others, was to diversify his investments across different asset classes. 801 3rd St. S Check out current deals on AcreTrader now! But unlike those men, Gilbert has plans to redevelop his properties and not just sit on them. But the fact remains, as the Daily Mail notes, Gates computer "nerd" and . Tue, Feb 28, 2023 LOGIN . Your membership is the foundation of our sustainability and resilience. While private companies and corporations are increasing their ownership of U.S. homes, BlackRock, through its investments, does not own a majority of single-family homes. The main factor driving the nationwide price hikes and supply shortages, according to the U.S. Department of Agriculture, is a U.S. avian influenza, or bird flu, outbreak. Toxic chemicals known as PFAS, or per- and, 2 hours, 2 minutes. 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. He said he did so to make the farms "more productive" and "create more jobs," adding that it was his investment team that made the decision. Not only was he no longer reliant on his own companys success for his own personal wealth, but he set himself up to make even bigger moves in the decades to come. Bill Gates just bought 2,100 acres of farmland in North Dakota, adding to the 270,000 acres he inexplicably owns throughout the US China also just bought 300 acres there, adding to the 192,000 . Chicken nuggets and cream cheese grow in trays in a South Side lab. He responded that it was a decision his investment group made. Gates is just using farmland to make Agri-Tech and financial investments. "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. Land Values: Here's a look at the top 10 absentee landowners in central Illinois, and where they own farmland. Is this just a regular investment move, made on a large scale? The figure is far below the total area of U.S. farmland. Roman Catholic Church: 70 million hectares The largest landowner in the world is not a major oil magnate or a real estate investor. Ive gotten a big earful on this from clear across the state, its not even from that neighborhood, said Goehring. From the beginning, Cascade Investments focused on blue chip defensive stocks, including Four Seasons, Berkshire Hathaway, Coca Cola, and more. State law prohibits corporations, LLCs, and trusts from farming or ranching activities. It has also funded myriad research facilities and humanitarian operations, focusing on overcoming diseases, climate change, agricultural research, and health and nutrition in underdeveloped areas. Eggs have become expensive and scarce in some parts of the country. Northern Kansas land sale averages $3,500 per acre. Farmland in am. Some social media users are claiming recent national chicken and egg supply shortages are the culmination of a decadelong plot by Gates. The controversy over Bill Gates becoming the largest private farmland owner in the US People are drawing connections between Gates's vast farmlands and climate change advocacy. a Reddit user asked. To put that into perspective, if you put all of the land that Gates owns into one place (his holdings are spread throughout the country), you'd cover an area about a quarter the size of Rhode Island. the Gates Foundation answers the top ten questions they received, and they admitted that they didnt think it was fair that their family had so much global influence. The $13.5 million sale in November of roughly 2,100 acres in the northeast corner of the state was first sleuthed and reported by AgWeek's Mikkel Pates earlier this month. Gates and his investment team own more than 240,000 acres, as reported by OKeefe, including 2,167 acres in Michigan. Gates does not own the majority of U.S. farmland. In addition to farmland, the Gates' portfolio includes numerous public investments, the Gates Foundation, a major stake in the Four Seasons Hotel, and much more. Bill Gates does not own the majority of U.S. farmland. In April 2022, conspiracy theorists insinuated that billionaire Bill Gates was buying up "the majority" of American farmland as part of a diabolical plot to cause widespread food shortages. Farmland has some natural built-in drawbacks for all of the built-in benefits: Just 20 years ago, it was difficult to invest in farmland if you werent already independently wealthy. Check out:How To Invest In Real Estate With $100. False. During his 11th appearance in the "Ask Me Anything" . In their Big Bet, they recognize that the impoverished people stand to be impacted the most by these changes. Bill Gates gobbling up Florida farmland; investment arm recently paid $28M for 4,500-acre tract. In addition, he owns 25,750 acres of transitional land and 1,234 acres of recreational land for total land holdings of 268,984 acres. He was right when he predicted the COVID-19 epidemic in 2015. Is Gladstone Land Corp (LAND) A Good Investment? While much of this land was transferred to the new state of Hawaii in 1959, the federal government did keep some. It was near-perfect timing too, as 2000 would quickly see the infamous tech crash of dot com stocks. Bill Gates is best-known for cofounding Microsoft, but he's also a major US landowner, having bought 275,000 acres of farmland. Supreme Court just voted to ban condoms., Says Ukrainian President Volodymyr Zelenskyy said he wants Americas sons and daughters to go die in Ukraine., In Ohio, there are 75,000 acres of farmland, fertile farmland, that are all now being poured down with acid rain., Muslims by the millions are converting to Christianity.. Bill Gates does not own the majority of U.S. farmland. While Gates is still the top farmland owner in the U.S., not all of the property he owns is farmland. These rumors, like the present rumor about Gates buying up the majority of farmland in the United States for nefarious purposes, are all false. There isn't some grand scheme involved - in fact, all these decisions are made by a professional investment team.. Darren lives in Portland, has a cat, and writes/edits about sci-fi and how our world works. The buyer, Red River Trust, is tied to Bill Gates, the largest farmland owner in the US. Of those states, Gates owns the most land in Louisiana, where he is proprietor of more than 69,000 acres. Document shows Rebekah Jones demonstrated a violation of Floridas Whistleblower Act. AcreTrader is one of the most well-established farmland crowdfunding platforms out there. .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;}}60 Scientists Are Trying to Block the Sun, 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. How many farms Does Bill Gates Own? Here in Michigan, roughly 1.35 million acres of ag land is held by foreign investors and nearly 90% of this land is in forests. Who is the largest farmer in the United States? What does Weyerhaeuser have to do with Michigan? Cascade Investment began purchasing farmland in significant strides in 2013. FPI is internally managed and the company owns farms in 16 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi,. Other noteworthy farmland investors include Ted Turner and Thomas Peterffy. But the fact remains, as the Daily Mail notes, Gates computer "nerd" and vaccination enthusiast "has been revealed as the biggest private owner of farmland in the US, after buying up 242,000 acres in 18 states.". Satellites are on balloons and not in space.. The Agriculture Department estimates there are more than 895 million acres of farmland in the U.S., making Gates share 0.028%. But these land holdings account for only a tiny share of the countrys total farmland. In addition, the law places certain limitations on the ability of trusts to own farmland or ranchland, the letter said. Bill Gates reportedly owns more farmland than anyone else in the United States. Where farmland differs from other alt assets is that because its such a crucial human resource (food = humans), in less-than-desirable economic situations, farmland tends to appreciate even further in value, as opposed to losing value (I.E., during a dreaded stock market crash). 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. Any why now after years of massive success? Invitation Homes, for example, has approximately 80,000 homes for lease across the country and is the largest landlord for single-family homes in the United States (here) (here). Another meme circulating online reads: Bill Gates is buying all the farmland. In 2000, the new Gates foundation launched with Bill, Melinda, and Warren Buffet on the trustee board. At about $6,000 per acre, the potato farm cost roughly half of what Gates reportedly spent on highly coveted soil closer to his home in Washington. It reported that as of 2022, Gates owned about 248,000 acres of farmland. No, its the Roman Catholic Church. 2022. You're looking into Bill Gates' Red River Trust purchase of . Microsoft founder and billionaire turned philanthropist Bill Gates recently laid the long-time conspiracy theory that he owns some 80% of all U.S. farmland to rest in his 11th appearance in an Ask Me Anything (AMA) session on Reddit. By divesting his personal wealth from his own thriving tech company, and diversifying into myriads of other non-tech based businesses, Merged from the William H. Gates Foundation and the Gates Learning Foundation, The Bill and Melinda Gates Foundation quickly became. As of 2020, industry reports show he owned about 0.027% of U.S. farmland. 1800 I Street NW Because of this crucial factor inherent to farmland, it also tends to provide better, consistent returns during times where inflation rises another scenario where more traditional assets like stocks and real estate suffer in. Agfundernews.com, a website about agricultural investments, reported in 2021 that Gates' investments were part of a broader trend that started after the financial crisis of 2008, as investors looked for reliable returns. Talk about big bets. ", Gates responded at the time, "My investment team bought the farmland. The Land Reportmagazine 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. We invest in the farms to raise productivity. More than 58 million birds in hundreds of commercial and backyard flocks have been affected since the bird flu outbreak began in February 2022, the Agriculture Department estimated. Will Bill Gatess green tech initiatives ever intersect with his growing agricultural empire? If Not for Climate, Then Why Is Bill Gates Buying so Much Farmland? AFN, 27 Aug. 2021, https://agfundernews.com/gates-if-not-for-climate-then-why-is-bill-buying-up-so-much-farmland. The Michigan State University shooter is a 21-year-old man named Lynn Dee Walker. Access your favorite topics in a personalized feed while you're on the go. Gates also owned up to the various failures in their initiatives, and admitted that they try their best to leverage the expertise and wisdom from the community leaders present in the areas they aid. The timeline of events leading to the shortages, claim multiple Instagram posts, goes like this: "2013: Bill Gates invests (in) plant-based eggs, poultry, and meat", "2021: Bill Gates becomes the largest private farmland owner in the U.S.", "2021-2023: Mass chicken and egg shortages hit American farms", The Gateway Pundit, a conservative website, shared a similar claim. In 1999, Cascade Investment made an interesting decision: Gates sold over 7 million personal Microsoft shares to further diversify his portfolio. Farmland Riches, LLC and the owners may have investments in companies represented on the AcreTrader platform. FILE - Bill Gates attends a discussion during the 'Munich Security Conference' in Munich, Germany, Friday, Feb. 18, 2022. In his annual Reddit AMA Wednesday, Gates was asked why he has bought so much farmland. Wonderful Company cofounders Stewart and Lynda Resnick (net worth: $7.1 billion) ranked number three . To put it into perspective, if all of Gates land was in one place, it would cover about 25% of Rhode Island. Since 2020, Gates has held the title of the nations largest private farmland owner, per The Land Report. Just over 70% of these were owned by individual investors. This is especially helpful if, say, the stock market crashed, and you had a more aggressive stock portfolio (or any large stake in stock at all). In the wake of this uncertainty, unfounded rumors began to spread that attempted to lay the blame for any coming food shortages on nefarious forces. His 242,000 acres of farmland stretch across 18 states from Washington to Florida,. In a world of wild talk and fake news, help us stand up for the facts. As of October 2021, the Asian nation owns $1.065 trillion, or about 3.68%, of the $28.9 trillion U.S. national debt, which is more than any other foreign country except Japan. Purchasing your own farm outright means that you are not diversified across many farms; just 1. As of 2020, industry reports show he owned about 0.027% of U.S. farmland. Alongside his investments, Gates has also purchased farmland in at least 19 states, according to The Land Report. Bill Gates speaks during the Global Fund's Seventh Replenishment Conference, Wednesday, Sept. 21, 2022, in New York. The publication named Gates the countrys largest private farmland owner in 2020, 2021 and 2022. 41 on The Land Report's 2022 list of Americans who own the most land. Bill Gates is America's biggest farmer, his 269000 acres farmland grows potatoes and carrots Gates has farmlands in Louisiana, Nebraska, Georgia and other areas. How Many Hours Is It From Detroit To Michigan? While Microsoft took a major hit in the tech crash of 2000, Bill Gates portfolio with Cascade would gain around 40% return in that same year. In fact, he reportedly owns more farmland than any other individual in America. He's the new MacDonald: Bill Gates owns hundreds of thousands of acres across the United States including 242,000 acres of farmland making him the country's top agricultural landholder, according to Eric O'Keefe's The Land Report. 309. Bill Gates is America's biggest farmer, his 269000 acres farmland grows potatoes and carrots Gates has farmlands in Louisiana, Nebraska, Georgia and other areas. One main benefit to alt assets especially for those whore heavily invested in the stock market is you can diversify your overall investment portfolio outside the NYSE/NASDAQ. Michigan. Gates has been asked about his farmland purchases before. According to the Harvard Joint Center for Housing Studies (JCHS) (here), using data of the Rental Housing Finance Survey, between 2001 and 2018 the proportion of rental properties owned by non-individual investors, which include partnerships, trustees for estate, real estate corporations, real estate investment trusts, and other entities, increased from 18% to 26%. to not use their land, is working towards their real agenda. To better understand these questions, it's helpful to review Bill Gates' financial decision through the years, especially as it relates to Microsoft, Cascade Investments, and The Bill and Melinda Gates Foundation. There isn't some grand scheme involved - in fact all these decisions are made by a professional investment team.". This is because of more intense seasons of drought and rain. What special interest does Bill Gates have in farmland? Gates has farmlands in Louisiana, Nebraska, Georgia and other areas. The Detroit Land Bank Authority (DLBA) is a public authority that owns and manages approximately 100,000 parcels of property in the City of Detroit making it the citys largest landowner.Detroit Land Bank Authority. Instead, he mostly acts like a landlord and allows professional farmers to keep doing their thingeven if those practices are ruinous to the environment. Claims online that billionaire Microsoft co-founder Bill Gates owns the majority of U.S. farmland and that BlackRock, the worlds largest asset manager, owns the majority of U.S. single-family houses are factually inaccurate, according to industry data and spokespeople for Gates and BlackRock. In the Reddit AMA, he also said he'll sell what he owns as money goes towards the foundation. AcreTrader has carved out a niche for themselves that has led to rapid market dominance. As of 2022, he owned 248,000 acres of farmland across more than a dozen states, but this accounts for less than 1% of the total farmland in the U.S.