All that farming has led to large water withdrawals from Florida's aquifer system and requires fertilizer, which leaches through the ground into waterways, emptying nitrogen that has led to destructive algae blooms and severe loss of fish and marsh habitats.
He hoped Gates would have invested in different farming techniques that could help turn around the ecological damages from big agriculture.
“Well, you’d think, if you're looking for somebody with enough capital to try that, he would go first. Right? But he didn't,” Quarterman said. “He never did anything that different from before he got here and what other farmers were doing nearby."
Quarterman guessed that may be because Bill Gates isn’t the one doing the farming. He’s the landlord, or rather, the companies owned by his investment firm are the landlords. And not all the renters are local.
But Zehren of Cascade noted that the firm has been working in Florida and elsewhere to promote ecologically conscious agriculture and that it plans to continue to evaluate its farmland portfolio to improve its overall sustainability.
“In enrolling in Leading Harvest, Cascade has implemented new initiatives on its farmland holdings ranging from adding additional pollinator habitat in Nebraska to planting wildlife-friendly trees on dry pivot corners in Florida to hosting grain bin safety rescue training for the local community in Louisiana to converting numerous diesel power units to electric to reduce carbon output, to name a few,” Zheren said.
Carrots, onions and french fries
A survey of the Gateses’ farmland holdings shows that a broad range of the vegetables that Americans eat can be traced back to his land and that some of this land has also been owned by other billionaires. Starting in 2012, Gates’ investment firm began buying family farms in South Georgia. One of those farms, Stanley Farms, specialized in Vidalia onions, and another, Coggins Farms, focused on growing carrots. In 2014, Cascade Investments combined both of those companies and the land into Generations Farms, which continued to grow vegetables.
Some of that land, including nearly 300 acres, was sold in 2019 to the California-based Grimmway Farms, the world’s largest carrot producer. Another 5,500 acres was sold to Generation Land Georgia, a company that shares an address with Miami-based Optimum Agriculture, which bought Generations Farms in 2019. Members of the Stanley family now work for Generations.
In north Louisiana, the Gateses’ investment firm owns about 70,000 acres of land through at least three other shell companies. There farmers primarily grow soybeans, rice, corn and cotton. One of the largest plots of land owned by a subsidiary of the Gateses’ investment arm in Louisiana, Angelina Plantation, was previously owned by former WorldCom CEO Bernard Ebbers, who died last year, a month after being released from prison. That land is now largely rented out to various farmers.
Along the Columbia River border between Washington and Oregon, the Gateses purchased 100 Circles Farm, a 14,500-acre plot of land, for $171 million in 2018, according to property and business records. There, on Gates’ parcels, an industrial farm grows potatoes for McDonald’s french fries. Cascade declined to comment on its specific land holdings.
But farmer advocates say the Gateses’ large-scale farm purchases don’t make room for smaller farmers to break into the market. After all, few can out-bid Bill Gates.
“Farmers just aren't owning the assets anymore. Someone else is owning that asset, whether it's rented equipment or land. Someone else is building that equity on their back,” said Johnathan Hladik, the policy director at the Center for Rural Affairs, who is also a farmer in Nebraska. “When Bill Gates, or whatever other investment arm owns the land, a farmer still needs to farm it. But they're just renting it. So if now the best farmers can do if you want to stay in farming is rent this land, you're not going to get the benefits that come with land ownership.”
Fake meat
While the Gateses are best known for their philanthropic work tackling large-scale societal problems, like funding the coronavirus vaccine and controlling malaria via the Bill and Melinda Gates Foundation, they have also invested in some companies rethinking food production and have endorsed the use of genetically modified seeds as one way to increase farming productivity and feed more people globally.
In 2010 the Gates Foundation Trust invested about $23 million in Monsanto, the genetically modified seed and chemical company, though it sold its shares the next year following outcry from environmental groups.
Bill Gates was also an early investor in fake-meat companies aiming to combat the environmental harms of raising livestock by creating more convincing, plant-based alternatives. He backed Impossible Foods, which relies on genetically modified soybeans, and also held shares of Beyond Meat through the Bill and Melinda Gates’ Foundation Trust, though SEC filings show those shares were sold in 2019. In May, Bill Gates also transferred about $850 million in shares of the agricultural machinery company John Deere to his wife after the two shared publicly their plans to divorce.
Besides the enrollment of their landholdings in Leading Harvest, the Gates Foundation in 2020 also created an agricultural nonprofit, Gates Ag One, which focuses on bringing affordable solutions to small-scale farmers in sub-Saharan Africa and South Asia to improve crop productivity. The Gates Foundation said in a statement that its agriculture efforts do not extend to farming in the U.S.
But those working on projects with both investors and farmers to create ecologically sustainable farming methods and support diverse and disadvantaged farming communities say rethinking agriculture and working to avert a climate crisis go hand in hand. They add it will take those with large parcels of land, like the Gateses’ U.S. farmland holdings, to do it.
“We know that one of the best ways to sequester carbon is through the soil. And that it’s going to take big swaths of land, like what Bill Gates has taken, to do that,” said Konda Mason, the founder and president of Jubilee Justice and Potlikker Capital, which funds and supports regenerative agriculture projects owned by people of color.
Mason notes that trying to draw hard lines between one’s philanthropic work and one’s investments does not work.
“Now you have a foundation where the mission on one side is to save the world and to do all these wonderful things surrounding climate, and on the other side they’re investing in the exact same things that are causing the harm that the mission side is trying to protect,” Mason said. “It makes no sense.”.
On June 30, Gates won the approval of the North Dakota Attorney General to buy the farmland for $13.5 million from potato growers Campbell Farms in the northeast of the state.
But farmland still provides real diversification benefits, and best of all, investors don't have to sacrifice long-term returns to lower the risk of their portfolio. Historically, farmland has actually outperformed stocks, bonds, gold, and real estate, generating 10.5% average annual returns since 1992.
One area of concern: Foreign ownership of U.S. farmland
Chinese entities slowly are buying up more U.S. farmland. Some members of Congress see that as a threat to national security. One of them is South Dakota Republican Rep. Dusty Johnson, a member of the new China-focused committee.
Bill Gates talks about his call to action to save the planet
In Washington, the Gateses own more than 14,000 acres of farmland that includes potato fields so massive that they are visible from space and some of which are processed into french fries for McDonald's.
Of that volume, the United States exported 2.03 billion pounds of frozen fries. The leading buyer of U.S. potatoes was Japan, followed by Canada, Mexico, and South Korea. The United States also exported potatoes valued at a total of $1.1 billion to these four countries alone (NPC 2018).
It's simple: land values rise, and the land produces crops, which provides you with income. The higher the income, the more valuable the farmland. In addition, the land could appreciate due to its beauty or location for a vacation property.
Investing in farmland carries many advantages, with tangible assets like permanent crops, permanent pasture, and arable land providing portfolio diversification and stability that cannot be found in stocks or bonds.
Now, one can consider farmland simply as an alternative investment. Farmland produces returns both with rent yields and appreciation in the farmland's value. So these investments can work somewhat like dividend stocks, with gains from income and capital gains.
China owns roughly 384,000 acres of U.S. agricultural land, according to a 2021 report from the Department of Agriculture. Of that, 195,000 acres, worth almost $2 billion when purchased, are owned by 85 Chinese investors, which could be individuals, companies or the government.
People own most farmland. Some 2.6 million owners are individuals or families, and they own more than two thirds of all farm acreage. Fewer than 32,500 non family held corpor ations own farmland, and they own less than 5 percent of all U.S. farmland. Farmland owners hold an aver age of about 280 acres each.
One of the main reasons behind this trend is urbanization. Cities and towns are expanding into previously rural areas. And that often involves the conversion of farmland into residential, commercial or industrial land uses.
100 Circle Farms grows potatoes in circles so big they're visible from space. Then our trusted processor, Lamb Weston, cuts them into fries at 70 miles per hour.
Yes, McDonald's fries are made from real potatoes. The fast-food giant uses what they call "premium potatoes" to make their fries. The potatoes consist of different varieties, like Russet Burbank, Russet Ranger, Umatilla Russet, and Shepody.
According to McDonald's, their world famous fries start with Russet Burbank or Shepody potatoes, grown from U.S. farms. Russet Burbanks, grown mostly in the Pacific Northwest, are ideal for frying and baking, making them the perfect fit for those golden fries.
According to the FAO data, a total of 376 million tonnes of potatoes were produced world wide, with China (94 million tonnes) and India (54 million tonnes) the largest potato producing countries in 2021.
Gates also owns 14,000 acres in Washington's Columbia Basin that produces potatoes for McDonald's french fries, which operates as 100 Circle Farms. A 2021 LandReport.com story lists Gates' farmland holdings at more than 240,000 acres.
According to NBC News, McDonald's uses more than 3.4 billion pounds of U.S.-grown potatoes every year. They're the biggest buyer of potatoes in the entire world. More mind-blowing facts about McDonald's right this way.
Kerns says that in the area of eastern Oregon where his family farms, growers can generally get $2,200 to $2,700 per acre for their spuds, but they can also put up to $2,000 per acre into the crop. “You can get rewarded for growing potatoes, but there's also a lot of risk out there,” he says.
The National Potato Council tracks this and while it lags behind a year or two, you can easily follow the per capita potato consumption (currently at 117 pounds per year) as well as the highest producing states (Idaho has been on top since passing Maine in 1957).
American billionaires are buying large ranches across Wyoming, Montana and Texas, creating a new class of luxury assets, writes Bloomberg. Why it matters: The wealthy are often buying the land from "asset-rich, cash poor" small farmers whose families have owned the land for decades.
The best states for farmland in the US include Montana, Kansas, Oklahoma, South Dakota, North Dakota, Texas, Iowa, Kentucky, Wyoming, and California. Consider factors like profitability, cost of operation, infrastructure, and availability when selecting a location.
Bezos, the founder of Amazon, owns about 420,000 acres of U.S. farmland, according to media reports. Gates, co-founder of Microsoft, has nearly 270,000 acres. The United States has more than 895 million acres of land in farms, the USDA has reported.
Land is a tangible investment and an asset that keeps increasing in value over time. Land ownership provides the owner with financial security and contentment. It has been in high demand as it can generate passive income, offer opportunities to earn, and let investors double their money without high risks.
That's because we also need farmland to restore our planet. When properly managed, farmland and ranchland support wildlife and biodiversity, recharge aquifers, clean water, and—of paramount importance in our fight against climate change—sequester carbon.
A farmland conversion has the potential to produce the highest return since an investor would likely be able to purchase land for a lower price and, therefore, could earn a higher cash yield and potentially benefit from higher land value appreciation.
Real estate is renowned for being a profitable investment since it provides both revenue (via rentals) and appreciation over time (selling your property for a profit). If you're wondering why it is important to own land, you must understand that real estate investments are an excellent way for expanding your wealth.
Farmland can serve as a cornerstone of a balanced investment portfolio. Commodity prices, including the cost of food, tend to rise with inflation. This strong correlation allows agricultural investing to protect against inflation, especially compared to high-volatility assets.
The 2022 Land Report 100, compiled each year by The Land Report magazine, released its annual list of landowners who own the most acres in the United States. The nation's largest private landowners are the Emmerson family in California who own over 2.4 million acres.
Recent reporting shows that a CCP-affiliated corporation purchased farmland in North Dakota that is just a stone's throw from high-capability military bases. The purchase raises the possibility that the Chinese government could use the farmland as a launching pad for espionage under the guise of operating a business.
After gaining permission from the Vatican, Burhans underwent a comprehensive of bringing the Church into the 21st century. A live database provides a visual of all its land holdings. Conclusion: The Catholic Church owns the most land, far more than McDonald's and billionaire Bill Gates.
The U.S. farm program pays subsidies to farmers not to grow crops in environmentally sensitive areas and makes payments to farmers based on what they have grown historically, even though they may no longer grow that crop.
Question: Why does the government pay farmers not to grow crops? Robert Frank: Paying farmers not to grow crops was a substitute for agricultural price support programs designed to ensure that farmers could always sell their crops for enough to support themselves.
Many families lost their farms. Agriculture now finds itself on the verge of crisis yet again, as farmers face growing inflation and even higher stakes. Those that produce much of the nation's corn and soy, as well as raise its livestock, are used to battling the weather.
Today, Keystone's US operations are proud to produce and deliver the highest quality beef, chicken and fish products to McDonald's, including more than 150 million pounds of beef, 300 million pounds of chicken and 15 million pounds of fish each year.
Yep.The most common potatoes we use for McDonald's fries include the Russet Burbank, Russet Ranger, Umatilla Russet and the Shepody—varieties known for producing a flavorful fry that's crispy on the outside and fluffy on the inside.
Burger King fries are typically made from potatoes, canola and/or sunflower oil, and a blend of salt, sugar, and other ingredients like monosodium glutamate, dextrose, sodium acid pyrophosphate, natural flavorings and preservatives.
McCain Foods make McDonald's French fries to our gold standard specifications, which means that they are not quite the same McCain fries you find in the freezer section of your grocery store. Our cooking process is also different from how you might cook fries at home.
The Waffle Fries are made from potatoes grown by a family-owned business in Washington State, along the Columbia River Basin. The Johnson family has grown potatoes since 1906, which are served across the country in Chick-fil-A restaurants as waffle fries and hash browns.
The soaking, Mr. Nasr said, is the secret to the crisp texture of the fries. It draws out the starch, making them more rigid and less likely to stick together. The cooks fry them twice, first blanching them until slightly limp in peanut oil heated to 325 degrees, and again in 375-degree oil to crisp and brown them.
Wondering what are McDonald's Chicken Nuggets made of? Chicken McNuggets® are made with all white meat chicken and no artificial colors, flavors, or preservatives. There are 170 calories in a 4-piece Chicken McNuggets®.
We stick to a gold standard that helps us ensure we deliver you a great tasting McDonald's fry. It starts with the right potatoes, which we cut exactly right, and then use a canola-blend oil with just the right amount of flavoring.
We work with three dedicated Chicken McNuggets® suppliers with various manufacturing locations within the U.S., such as Arkansas, Tennessee, North Carolina and Georgia.
Gates invested in Hampton Creek Foods, a startup company working on plant protein based egg substitutes, and has praised Beyond Meat, a meat substitute company. Thiel gave a grant to Modern Meadow, a company using animal stem cells in what it calls "tissue engineering" to create meat and leather via 3D printing.
In the United States, Idaho topped the ranking of leading potato producing states, with an annual production amount of about 121 million cwt of potatoes in 2022. Washington and Wisconsin were the next largest producers with production amounting to about 93.3 million cwt and 29 million cwt, respectively in that year.
Records show that the Campbell potato farming group based in Grafton, North Dakota, has transferred more than $13 million worth of farmland to entities tied to Bill Gates, the billionaire co-founder of Microsoft who is reputedly the nation's largest farmland owner.
People own most farmland. Some 2.6 million owners are individuals or families, and they own more than two thirds of all farm acreage. Fewer than 32,500 non family held corpor ations own farmland, and they own less than 5 percent of all U.S. farmland. Farmland owners hold an aver age of about 280 acres each.
100 Circle Farms grows potatoes in circles so big they're visible from space. Then our trusted processor, Lamb Weston, cuts them into fries at 70 miles per hour.
When he was younger, Gates was a vegetarian but has since returned to eating animal products. He admits some of his favorite foods are cheeseburgers, and in an interview with The Telegraph, Joe Cerrell revealed that if you were having lunch with Bill, it would be hamburgers.
Kerns says that in the area of eastern Oregon where his family farms, growers can generally get $2,200 to $2,700 per acre for their spuds, but they can also put up to $2,000 per acre into the crop. “You can get rewarded for growing potatoes, but there's also a lot of risk out there,” he says.
The Irish often used the good land to grow things like wheat and corn that they would sell to pay their rent. This left the farmers with a small piece of land to grow their own food. Potatoes took up very little space and were very nutritious. One acre of potatoes could feed a family of four for a year.
Bill Gates is currently the US's most significant private farmland owner, with 242,000 acres of farmland in 18 states. His foundation promotes advanced eco-friendly farming and the sustainability of farmland.
Warren Buffett owns more than 242,000 acres of farmland in the United States, including a 1,500-acre family farm in Illinois. He also has three research farms in South Africa and Arizona. Buffett has shown interest in farmland for most of his life.
Smithfield has started marketing meat substitutes similar to those sold by Impossible Foods. Smithfield sells these products under the Pure Farmland brand.
Introduction: My name is Mr. See Jast, I am a open, jolly, gorgeous, courageous, inexpensive, friendly, homely person who loves writing and wants to share my knowledge and understanding with you.
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