Earlier this year in May, the following allegations were made: Microsoft co-founder bill gates Owned most of America’s farmland.
It’s false, but billionaires hold about 270,000 acres of farmland nationwide, compared to a total of 900 million acres of farmland, while another billionaire personally owns 2.2 million acres. , making him the largest scale. American landlord.
John MaloneFormer CEO of Tele-Communications Inc., AT&T Corporation Acquired in 1999 for more than $50 billion, it operates a variety of ranch and real estate businesses primarily in Maine, New Mexico, Colorado and Wyoming.
Malone, a media veteran, said he bought the land, which is worth $9.6 billion, because “they aren’t making it anymore.” He also owns three of his hotels in Dublin, Ireland, and his fourth in Limerick.
Current Liberty Media Corporation The chairman decided to invest his billions of dollars of wealth in land after spending summers on a family farm in Pennsylvania.
Bell Ranch in New Mexico, a 290,100-acre plain dotted with mesas, rimrock canyons, meadows and distinctive bell-shaped mountains, was one of his first significant acquisitions. Additionally, his Bridlewood Farms in Florida is a notable asset.
He now owns a total of 2.2 million acres of crops, ranches and forests and holds the title of America’s largest landowner, surpassing Ted Turner.
In an interview with CNBC, Malone said conservation was his main motivation for buying the land, and he intends to buy more. The properties he owns are a reliable source of income and a solid hedge against inflation, he said.
“Land protection is important,” said the billionaire. “That’s the virus I got from Ted Turner.”
He continued, “The forestry part of the Northeast is a very good business, with a very low return on capital, but it’s very stable and highly leveraged,” Malone said. And I think in the long run it will help keep inflation down.That’s basically the motivation.It seemed like a good thing.”