“Bill Gates has been buying up 242,000 acres of farmland across the U.S. — enough to make him the top private farmland owner in America. With other billionaires such as Jeff Bezos also buying up land, should we be worried?”
(Brand’s commentary has some interesting information as well, including stakes in e.g. Facebook, Amazon, etc. And as Brand says, Gates’ “Giving Pledge’ was begun over 10 years ago, and the result so far is, all the assholes have more money than ever. They can’t give it away fast enough to stop profiting — nor in truth, do they actually want to.)
It depends on where they are buying their land at – another article I read said a lot of Gates land is in the southwest and southern states. Last I heard was that they are facing draughts, and never have been very good at growth. So I wonder if they are buying them as a tax right-off?
The prediction is that it is not going to get better down there so?? Many years ago one of the well known newscasters bought a beautiful farm in NW Iowa and hired a young couple to farm it for him. They told us that he didn’t care if they made any money or not because he could write it off on taxes. This is where I got the idea from that these newly rich persons may be playing the usual game.
I dunno, hobby farms for tax write-offs has been a strategy so long as i remember paying attention (also you could get govt credits for leaving the land fallow too), but when gates suddenly starts doing things along with bezos, i start wondering why
there are other things in the southwest besides drought, like minerals, water rights, etc