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| Name | Why Bill Gates Is Buying Up U.S. Farmland |
| Video Uploader | Video From CNBC |
| Upload Date | This Video Uploaded At 21-08-2021 12:00:08 |
| Video Discription | Bill Gates made headlines for becoming the largest private farmland owner in the U.S. But he’s not the only one. Some of the wealthiest landowners including Jeff Bezos, John Malone and Thomas Peterffy are buying up forests, ranches and farmlands across the United States. Why? Watch the video to find out. Investments in farmland are growing across the country as people, including the ultra-wealthy like Bill Gates, look for new ways to grow their money. In 2020, Gates made headlines for becoming the largest private farmland owner in the U.S. He had accumulated more than 269,000 acres of farmland across 18 states in less than a decade. His farmland grows onions, carrots and even the potatoes that are used to make McDonald’s French fries. “It’s an asset with increasing value,” American Farmland Trust CEO John Piotti said. “It has great intrinsic value and beyond that, it is a limited resource.” The U.S. Department of Agriculture estimates that 30% of all farmland is owned by landlords who don’t farm themselves. Buyers often purchase land from farmers who have owned it for decades; many of whom may be asset rich but maybe cash poor. “The economic realities for them are typical that they’ve spent their life farming,” said Holly Rippon-Butler, land campaign director at the National Young Farmers Coalition. “Their retirement, their equity is all in the land and tied up in selling land.” Private landowners are also making a profit by utilizing the land in numerous ways. Approximately 39% of the 911 million acres of farmland across the U.S. is rented out to farmers, and 80% of that rented farmland is owned by landlords who don’t farm themselves data from the Agriculture Department shows. “The young farmers are just as happy to lease the land because whether you are young or old, it’s a business, right?” said Thomas Petterfy, chairman of Interactive Brokers and owner of 581,000 acres. “You go buy a farm and you put that cash rental lease in place, you’re going to be looking at about 2.5% return on your capital,” Peoples Company President Steve Bruere said. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Subscribe to CNBC PRO: https://cnb.cx/2NLi9AN #CNBC Why Bill Gates Is Buying Up U.S. Farmland |
| Category | News & Politics |
| Tags | CNBC | business | news | finance stock | stock market | news channel | news station | breaking news | us news | world news | cable | cable news | finance news | money | money tips | financial news | Stock market news | stocks | Bill Gates | us farmland | Jeff Bezos | John Malone | Thomas Peterffy | forests | ranches | farmlands | farmland owner | farmland |
