If many billionaires and rich people in the world are being lulled by scrambling to invest in Bitcoin, it is different from Bill Gates . The fourth richest person in the world is investing in agricultural land. The data shows that Gates is the owner of the largest agricultural land in the entire United States.
Quoted from the Financial Times, Sunday (18/4/2021) based on the publication data of The Land Report, Bill Gates’ total asset ownership in the form of agricultural land reaches 242,000 acres or approximately 979 square kilometers. Its size is wider than Jakarta and even bigger than Singapore.
One of his lots is in The Horse Heaven Hills area, a farm in southern Washington state and close to the Oregon state border.
This fertile land with an area of 58 square kilometers, which he bought almost three years ago, is a granary for vineyards as well as potato.
The area is hilly, this area is also a land to build wind turbines for wind power plants (PLTB).
Even though the land area controlled by Gates is fantastic, this value is still very far from the plantations managed directly by the state.
In the US, 97.8 percent of cropland is managed by the US Department of Agriculture, only 2.2 percent is privately owned.
Even though it only controls a small part, the value of investment in this sector seems to have continued to increase in relative terms since the 2008 financial crisis.
Specifically in the US alone, agricultural land funds raised USD 5.7 billion or around IDR 82 trillion in 2019, the highest post-crisis, before these inflows receded to USD 2 billion or less than IDR 29 trillion last year amid the pandemic, according to data Preqin.
Some experts argue that investment in agricultural land is promising, because the need for food sources will continue to increase in the coming years as the world’s population increases.
This concept is similar to one of the values Gates promotes in his charity Bill and Melinda Gates about agricultural innovation. Through his foundation, Gates hopes to be able to support the improvement of the food sector in poor countries in the world.