Real Estate

why ultra-wealthy Bill Gates, Thomas Petterfy investing in farmland

0


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…



Source cnbc.com

0 0 votes
Article Rating

Tesla unveils Dojo D1 chip at AI Day

Previous article

Foot Locker (FL) Q2 2021 earnings beat projections

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Real Estate