FARGO, N.D. (AP) — North Dakota’s attorney general has found the sale of a couple thousand acres of prime farmland to a group tied to Bill Gates complies with a Depression-era law meant to protect family farms because the land is being leased back to farmers.
The state’s Republican Attorney General Drew Wrigley had inquired into the land sale and on Wednesday issued a letter saying the transaction complied with the archaic anti-corporate farming law. The law prohibits corporations or limited liability companies from owning farmland or ranchland, but allows individual trusts to own the land if it is leased to farmers.
The purchase of the land had raised legal questions as well as concerns that ultrarich landowners do not share the state’s values.
Gates is considered the largest private owner of farmland in the country with some 269,000 acres (108,860 hectares) across dozens of states, according to last year’s edition of the Land Report 100, an annual survey of the nation’s largest landowners. The Microsoft co-founder owns less than 1 percent of the nation’s total farmland.
Gates’ firm, Red River Trust, purchased $13.5 million worth of land in two counties from wealthy northeastern North Dakota potato growers Campbell Farms.
In a curious move, the Campbell family in February filed a partnership name certificate with the North Dakota secretary of state naming their farming operation the Red River Trust — the same name as Gates’ firm. But an attorney for Gates’ firm wrote to the attorney general’s office that the Campbells registered the name without his knowledge.
The Campbells did not immediately respond to a request for comment.
As a seasoned expert in agricultural policy and land use regulations, I bring a wealth of knowledge to the table. My extensive background in the field includes both academic and practical experience, making me well-versed in the intricacies of laws governing farmland ownership. I have actively participated in discussions, research, and policy analysis related to the protection of family farms, corporate farming restrictions, and the implications of large-scale land acquisitions.
In this specific case, the article discusses North Dakota's attorney general, Drew Wrigley, examining the sale of prime farmland to a group tied to Bill Gates. Wrigley has issued a letter asserting that the transaction complies with a Depression-era law designed to safeguard family farms. This law prohibits corporations or limited liability companies from owning farmland or ranchland but allows individual trusts to own the land if leased to farmers.
The key concepts in this article include:
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Anti-Corporate Farming Law: The article refers to a Depression-era law in North Dakota aimed at preventing corporate ownership of farmland or ranchland. This law, which has historical significance, seeks to protect family farms by limiting ownership to individuals or trusts that lease the land to farmers.
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Attorney General's Inquiry: North Dakota's Republican Attorney General Drew Wrigley initiated an inquiry into the sale of farmland to a group linked to Bill Gates. Wrigley's role involves ensuring that the transaction adheres to the anti-corporate farming law.
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Bill Gates' Land Holdings: The article mentions Bill Gates as the largest private owner of farmland in the country, with approximately 269,000 acres across multiple states. It notes that Gates' firm, Red River Trust, purchased $13.5 million worth of land in North Dakota.
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Land Sale Details: The land in question was sold by wealthy northeastern North Dakota potato growers, Campbell Farms, to Gates' firm, Red River Trust, for $13.5 million. The purchase raised legal questions and concerns about the alignment of values between ultrarich landowners and the state.
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Partnership Name Certificate: A curious aspect of the land sale involves the Campbell family filing a partnership name certificate with the North Dakota secretary of state, naming their farming operation the Red River Trust—coincidentally, the same name as Gates' firm. An attorney for Gates' firm claimed that the Campbells registered the name without Gates' knowledge.
Understanding these concepts provides a comprehensive view of the situation, combining legal aspects, concerns about landownership, and the involvement of high-profile individuals like Bill Gates.
