Which Billionaire Owns The Most Land In The U.S.? Hint, It’s Not Bill Gates

Earlier this 12 months, in May, claims were made that Microsoft Corp co-founder Bill Gates owned the vast majority of America’s farmland.

While that is fake, with the billionaire amassing nearly 270,000 acres of farmland across the country, in comparison with 900 million total farm acres, a unique billionaire privately owns 2.2 million acres, making him the most important landowner within the U.S.

John Malone, the previous CEO of Tele-Communications Inc., which AT&T Inc. purchased for greater than $50 billion in 1999, has quite a lot of ranching and real estate businesses, primarily in Maine, Recent Mexico, Colorado, and Wyoming.

Value $9.6 billion, Malone, a media veteran, said he purchased the land because “they are usually not making it anymore.” He also owns three hotels in Dublin, Ireland, and a fourth in Limerick.

The present Liberty Media Corp chairman made the choice to place his billions of dollars in wealth into land after spending a summer working on a family farm in Pennsylvania.

Read also: Homebuilders Are Throwing Money At Buyers At A Furious Pace Just To Close A Sale, Data Finds

Bell Ranch in Recent Mexico, a 290,100-acre plain dotted with mesas, rimrock canyons, meadows, and a particular bell-shaped mountain, was one in every of his first significant acquisitions. As well as, Florida’s Bridlewood Farms is a noteworthy asset.

He now holds the title of the most important landlord within the US, surpassing Ted Turner, with a complete of two.2 million acres of crops, ranch property, and woodland.

Malone noted in a CNBC interview that preservation was his primary motivation for purchasing land, and he intends to buy more. He said that his properties function a reliable source of income and a solid hedge against inflation.

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“The conservation of lands is vital,” the billionaire said. “That was a virus that I got from Ted Turner.”

He continued, “the forestry a part of it within the Northeast is a reasonably good business, with very low return on capital, but very stable and leverageable,” Malone said. “And we predict it’s going to provide good inflation protection in the long term. That is principally the motivation there. It just appeared like a superb thing to do.”

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Original story found here.

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