In that same Reddit AMA from 2021, the one where Gates separated his land investments from his sustainability initiatives, he also mentioned the importance of productive seeds to avoid deforestation as well as the production of biofuels, which relies heavily on corn, in the very same answer. Heres why. Water bills are soaring in some areas as infrastructure deteriorates, a recent University of Michigan study found. Bill Gates investments in farmland can be seen as part of this trend. Officially, the general public doesnt know exactly what Bill Gates growing farmland estate is being used for. In addition, he owns 25,750 acres of transitional land and 1,234 acres of recreational land for total land holdings of 268,984 acres. With the Washington state acreage and other recent additions to his portfolio,. What Happened: Gates answered dozens of questions over the course of a few hours during the AMA, including: Why are you buying up so much farmland, do you think this is a problem with billionaire wealth and how much you can disproportionally acquire?, He responded, I own less than 1/4000 of the farmland in the US. Also, because youre investing in the land itself, your investment not only is quite resistant to depreciation, but also provides some solid tax benefits due to be land ownership. (here) (here). The report states that Gates has 70,000 acres of land in North Louisiana where they grow soybeans, corn, cotton. These posts were flagged as part of Instagrams efforts to combat false news and misinformation. In addition, the law places certain limitations on the ability of trusts to own farmland or ranchland, the letter said. What Returns Should You Expect From Farmland Investing? Bill Gates does not own the majority of U.S. farmland. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. How Long Can You Be Held Without Bond In Michigan? That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for billionaires. Nancy Pelosi (purchased) 10,000 shares of Amgen, manufacturer of Nplate, a drug used to treat radiation sickness.. Gates owns roughly 275,000 acres of farmland in the US, according to the 2022 edition of the Land Report 100, a yearly survey of the biggest landowners in the country. Who is the largest farmer in the United States? According to OKeefe, Gates isnt the only one making moves on the farmland market, especially as farm real estate values nationwide increased 7% from 2020 to $3,390 per acre. Valuations of equities (stocks) are at all time highs, similar to the dot-com bubble. Mr. Gates owns about 97,934 hectares, accounting for about 0.03% of . The cost of chicken has also gone up, although not as drastically. Either that or I had a screw loose. Instead, he mostly acts like a landlord and allows professional farmers to keep doing their thingeven if those practices are ruinous to the environment. But the fact remains, as the Daily Mail notes, Gates computer "nerd" and . Well, as with everything in life, there is always a trade-off especially in finance. He owns significantly more farmland than Minnesota's Offutt family and California's Resnick family, which each own 190,000 acres and rank second equal on the list. Is Farmland Partners (FPI) A Good Investment? It's hard to visualize just how much land 242,000 acres amounts to unless . Perhaps Bill Gates is looking to test out his GMO seeds. Bill Gates, the billionaire founder of Microsoft, has been revealed as the biggest private owner of farmland in the US, after buying up 242,000 acres in 18-states. The publication named Gates the countrys largest private farmland owner in 2020, 2021 and 2022. The No. Gates' 242,000 acres amounts to about 0.03% of the total. Talk about big bets. No one but Bill Gates knows that answer. Bill Gates is America's biggest farmer, his 269000 acres farmland grows potatoes and carrots Gates has farmlands in Louisiana, Nebraska, Georgia and other areas. This is especially helpful if, say, the stock market crashed, and you had a more aggressive stock portfolio (or any large stake in stock at all). The land was purchased from the owners of Campbell Farms, a potato farming group headquartered in Grafton, North Dakota, approximately 50 miles from the Canadian border. By Dec. 31, 2022, the Agriculture Department reported 43 million egg-laying hens had died because of the disease or depopulation. Other factors are pandemic-related supply chain issues andholiday demand. Farmland REITs have a high degree of correlation with the overall stock market, and returns tend to be lower than less liquid farmland investments. Conservatives are vowing to never drink Heineken again after it was recently revealed that billionaire Bill Gates acquired a minority stake in the popular brewing company. How long is it from Michigan to Detroit? KX News' Josh Meny sat down with Vogel who says the Attorney General's office is impeding her investigation into the purchase. Farmland has some natural built-in drawbacks for all of the built-in benefits: Just 20 years ago, it was difficult to invest in farmland if you werent already independently wealthy. As of the latest Rental Housing Finance Survey (2018), there were 19.955 million rental properties in the United States (bit.ly/3FdPtKZ), 17.16 million of them single unit rental properties (bit.ly/3KLCjWH). Gates and his investment team own more than 240,000 acres, as reported by OKeefe, including 2,167 acres in Michigan. All rights reserved. The state bars corporations and limited liability companies from owning or even leasing farmlands or ranches and has other limits on trusts, yet the . Oftentimes, those fingers get pointed at Gates. Why Bill Gates Is Investing Big Time In Farmland Across Washington And The Country - Northwest Public Broadcasting About Contact Us Coverage Area Our Staff Work With Us Report an Outage Station News Latest Station News Connect Archives Our Stories Download NWPB App TV Schedules Channel Guide Online Schedules Download Schedules Local Programs I had heard this in the past, but didn't give it much thought. In 1999, Cascade Investment made an interesting decision: Gates sold over 7 million personal Microsoft shares to further diversify his portfolio. The total portfolio of farmland is worth well over $700 million. Follow him on Twitter@LucasNolanor contact via secure email at the addresslucasnolan@protonmail.com, EconomyPoliticsTechBill GatesFarmersfarmlandNorth Dakota. Bill Gates does not own the majority of U.S. farmland. 41 on The Land Report's 2022 list of Americans who own the most land. Although Gates owns these farms, he isnt changing their practices. The major cash crops are field beans, sugar beets, corn and wheat. for different crops that have been gene edited to be pest-proof, flood proof, disease proof, and climate change-resistant. In the Reddit AMA, he also said he'll sell what he owns as money goes towards the foundation. Bill Gates is America's biggest farmer, his 269000 acres farmland grows potatoes and carrots Gates has farmlands in Louisiana, Nebraska, Georgia and other areas. Why did he decide to buy in Amish Country? Bill Gates owns more private farmland in the US than anyone else, an analysis by The Land Report found. Gates owns roughly 275,000 acres of farmland in the US, according to the 2022 edition of the Land Report 100, a yearly survey of the biggest landowners in the country. You're looking into Bill Gates' Red River Trust purchase of . With her 6.6 billion acres, Elizabeth II is far and away the worlds largest landowner, with the closest runner-up (King Abdullah) holding control over a mere 547 million, or about 12% of the lands owned by Her Majesty, The Queen. False. Gates also owned up to the various failures in their initiatives, and admitted that they try their best to leverage the expertise and wisdom from the community leaders present in the areas they aid. Although nowhere near 80 percent of U.S. farmland, its still a little more than one-third of the state of Rhode Island, a surprising amount for one person and enough to make Gates the largest landowner in the U.S. "In terms of the very rich I think they should pay a lot more in taxes and they should give away their wealth over time. As the Land Report notes, 24,800 acres of the land istransitional, located on the western edge of Phoenix, the tenth-largest metropolitan area in the country, and the mostpopulous city in Arizona. Hint, It's Not Bill Gates, Bezos-Backed Startup Lets You Become A Landlord With $100, Try the tool that will help you invest smarter, faster, and better, Bill Gates Finally Explains Why He's Buying So Much U.S. Social media post scrambles the facts on high egg prices, Bill Gates Invested In Artificial Eggs a Decade Before Egg Shortage, Bill Gates is About to Change the Way America Farms, What the plow and lab-grown meat tell us about innovation, Avian influenza outbreaks reduced egg production, driving prices to record highs in 2022, 2022-2023 Confirmations of Highly Pathogenic Avian Influenza in Commercial and Backyard Flocks, Bill Gates owns a lot of American farmland, but not the majority, The controversy over Bill Gates becoming the largest private farmland owner in the US, McDonald's french fries, carrots, onions: all of the foods that come from Bill Gates farmland, Fact Check-Bill Gates doesnt own most U.S. farmland; BlackRock doesnt own most houses, Bill Gates and Richard Branson are betting lab-grown meat might be the food of the future, Bill Gates bets on growing demand for sustainable foods, Lab-Grown Meat Backed by Gates, Tyson Foods Faces U.S. Farmland is what is known as an alternative asset an investment that can grow wealth outside of the stock market. He created the pledge in 2010 with his then-wife, Melinda French Gates, and his close friend and Berkshire Hathaway CEO, Warren Buffett. In the wake of this uncertainty, unfounded rumors began to spread that attempted to lay the blame for any coming food shortages on nefarious forces. The tweet had gathered over 215,000 likes at the time of writing. Prior to this in 1999, Bill sold off tons of Microsoft stock to diversify. He was right when he predicted the COVID-19 epidemic in 2015. Billionaire Bill Gates reportedly shopped for 'hundreds of acres of farmland' in Turkey while vacationing aboard a superyacht that emits an estimated 19 tons of CO2 a day before heading to the . Deals are highly vetted with around a 1% acceptance rate, You pick and choose what specific farms you want to invest in, Investors do not have access to a secondary market yet, so you should be familiar with the time horizon. Eggs have become expensive and scarce in some parts of the country. Theres a lot of little benefits that stack up when talking about farmland, but the biggest is likely the fact that farmland returns historically out performs most other investment vehicles, and is also comparatively the least volatile asset among the bunch. An archived version of the tweet can be found (archive.ph/8Tq36). Why? Click here to view current offerings on AcreTrader! Gates appears to be pro-chicken farming. An ingredient in some of Chick-fil-As dipping sauces can cause serious health problems. While Gates has spent billions investing in agricultural properties to make them more productive, a growing number of retail investors are getting a piece of the real estate market with as little as $100 through companies backed by high-profile investors like Jeff Bezos. Gates does own a lot of farmland. Photo of electric charging station powered by diesel generator is emblematic of the electric vehicle movement. Billionaire Bill Gates explains why he buys a lot agricultural land - Photo: BENZINGA. Accessed 28 Apr. Gates, currently the sixth-richest person in the world, has a net worth of $111 billion, according to the Bloomberg Billionaires Index. Please let us know if you're having issues with commenting. Bill Gates It reported that as of 2022, Gates owned about 248,000 acres of farmland. Will Bill Gatess green tech initiatives ever intersect with his growing agricultural empire? With over 242,000 acres of farmland, Bill Gates is America's biggest farmland owner, and his ownership may be connected to climate change and plant-based meat substitutes. In 2020, Gates made headlines for becoming the largest private farmland owner in the U.S. Does this investment say anything about the state of the. Drinking or using tap water treated with chlorine is dangerous because chlorine is a poison., Obama imposed stricter rules on trains carrying toxins. He's the new MacDonald: Bill Gates owns hundreds of thousands of acres across the United States including 242,000 acres of farmland making him the country's top agricultural landholder, according to Eric O'Keefe's The Land Report. The tide began to shift in the early 2000s, when institutional investors began to give farmland a closer look. Bill Gates just bought 2,100 acres of farmland in North Dakota, adding to the 270,000 acres he inexplicably owns throughout the US China also just bought 300 acres there, adding to the 192,000 . (AP). In a world of wild talk and fake news, help us stand up for the facts. Tue, Feb 28, 2023 LOGIN . Gates' farmland purchases, which have mostly been made in the last five years, started in 2017 when he bought $520 million of farmland spread over five dozen properties from the Canada. 309. Plum Creek, headquartered in Seattle, Washington, is the largest private landowner in Michigan after purchasing 650,000 acres in 2005. District of Columbia Over time, Gates sold personal stock in Microsoft and reinvested it through Cascade Investment. As of 2020, industry reports show he owned about 0.027% of U.S. farmland. The controversy over Bill Gates becoming the largest private farmland owner in the US People are drawing connections between Gates's vast farmlands and climate change advocacy. One main benefit to alt assets especially for those whore heavily invested in the stock market is you can diversify your overall investment portfolio outside the NYSE/NASDAQ. Which Billionaire Owns The Most Land In The U.S.? Wonderful Company cofounders Stewart and Lynda Resnick (net worth: $7.1 billion) ranked number three . 727-821-9494. stated on January 22, 2023 in an Instagram post: The U.S. chicken and egg shortage is linked to Bill Gates. Bill Gates owns about 400 acres of farmland outside of Malmo, Nebraska, that he rents to a local farmer. We need your help. Microsoft founder and billionaire turned philanthropist Bill Gates recently laid the long-time conspiracy theory that he owns some 80% of all U.S. farmland to rest in his 11th appearance in an Ask Me Anything (AMA) session on Reddit. Bill Gates and conspiracy theories go together like peanut butter and jelly. This is because of more intense seasons of drought and rain. Stay up to date with what you want to know. At the turn of this century, Chinese owners owned about 192,000 acres of farmland in the U.S., according to the USDA. It is unclear how cheap biofuels can be but if they are cheap it can solve the aviation and truck emissions.". According to 2021 article from the Land Report, a magazine about land ownership, Gates owns approximately 242,000 acres of farmland. Why Bill Gates Keeps Buying Up So Much Farmland, 60 Scientists Are Trying to Block the Sun, Your Privacy Choices: Opt Out of Sale/Targeted Ads. Farmland originally appeared on Benzinga.com. Oct 22, 2014. While private companies and corporations are increasing their ownership of U.S. homes, BlackRock, through its investments, does not own a majority of single-family homes. ", Gates responded at the time, "My investment team bought the farmland. Breitbart News reporter Alana Mastrangelo wrote: Gates is now America's largest private farmland owner, with hundreds of thousands of acres spanning across 19 U.S. states, according to the Land Report. Some are near cities and might end up having other uses.". Their low fees and competitive returns set them apart from many of the other platforms out there. (Read more about our partnership with Meta, which owns Facebook and Instagram.). According to The Land Report, the Microsoft co-founder owns farmland across 18 states, with the largest holdings being in Louisiana (69,071 acres), Arkansas (47,927 acres) and Nebraska (20,588. Perhaps history is repeating itself? What does Weyerhaeuser have to do with Michigan? Social media users are falsely claiming that Gates owns the majority of U.S. farmland. While Gates is still the top farmland owner in the U.S., not all of the property he owns is farmland. Essentially, by year 2030, the estimated results of what carbon emissions (and their effect on the environment) will look like in 2050 will be decided in full. Sign up for notifications from Insider! In fact, he reportedly owns more farmland than any other individual in America. Check out current deals on AcreTrader now! The figure is far below the total area of U.S. farmland. In January 2021, Bill Gates became the largest owner of farmland in the United States. The Detroit Land Bank Authority (DLBA) is a public authority that owns and manages approximately 100,000 parcels of property in the City of Detroit making it the citys largest landowner.Detroit Land Bank Authority. This, combined with holiday demand and continued coronavirus pandemic-related supply-chain pressures, have affected the market. The Agriculture Department has said the avian flu outbreak in the U.S. is the main contributor to low inventory and high prices. Not all of these owners are American; in fact, the portion of farmland that is foreign-owned has grown about 60 percent in the last decade, from 22 million acres in 2009 to 35.2 million . he has consistently made investing choices that brought him unusual and incredible returns, and this has brought him great wealth when others made the wrong fiscal moves, and lost much. Pregnancy tests include a hidden Plan B pill. Not only was he no longer reliant on his own companys success for his own personal wealth, but he set himself up to make even bigger moves in the decades to come. Bill Gates owns a minimum of 242,000 acres of U.S. farmland in Washington, Illinois, Iowa, Louisiana, California and multiple other states. He also reportedly owns about 16,000. F' off Gates! Alongside his investments, Gates has also purchased farmland in at least 19 states, according to The Land Report. He has been buying thousands of acres across America. Here are a few likely reasons why Bill Gates is scooping up farmland: Whatever you may think about the man himself, he has consistently made investing choices that brought him unusual and incredible returns, and this has brought him great wealth when others made the wrong fiscal moves, and lost much. The agriculture sector is important," Gates wrote. Chicken nuggets and cream cheese grow in trays in a South Side lab. The 2,100 acre potato farm adds to his massive portfolio of farm investments. Hint, It's Not Bill Gates. Distance from Michigan to Detroit The shortest route between Michigan and Detroit is, Michigan law is absolutely clear that an adult over the age of 21 shall not sell or furnish alcohol to a minor. The U.S. Federal Government. These rumors, like the present rumor about Gates buying up the majority of farmland in the United States for nefarious purposes, are all false. Since his divorce, it is unclear how the assets were split up between the couple. Now Chinese companies and businessmen are planning to make their home in the United States. His . That makes him the largest landowner in the U.S. Stats show agriculture is a pretty good investment for. According to lovemoney.com, the church owns more than 70 million hectares. Gates and his investment team own more than 240,000 acres, as reported by O'Keefe, including 2,167 acres in Michigan. The report states that Gates has 70,000 acres of land in North Louisiana where they grow soybeans, corn, cotton. Are you ready for alternative proteins made from a volcanic microbe? He has also been aproponent of chicken farming. Best Farmland Investing Platforms Non-Accredited, Best Canadian Farmland Investing Platforms. Land Values: Here's a look at the top 10 absentee landowners in central Illinois, and where they own farmland. Youre not investing in a building that will decay over time, but the rich farmland itself. Gates owns less than 1% of the nations farmland. (here). The financial crisis later in that same decade prompted an explosion of investments into farmland when monetary safe havens became scarce. The North Dakota attorney general's office recently inquired into a 2,100-acre farmland purchase by Red River Trust, an entity affiliated with Bill Gates. Thus, before we answer these questions, we are going to provide a brief summary of his financial history. By Jenna Hoffman July 5, 2022. In his annual Reddit AMA Wednesday, Gates was asked why he has bought so much farmland. North Dakotans are outraged as Bill Gates, the largest private farmland owner in the US, apparently buys a $13.5 million potato farm Dominick Reuter Jun 24, 2022, 8:13 AM Leon Neal/Getty. According to a 2021 report from the United States Department of Agriculture and the National Agriculture Statistics Service, there are 895,300,000 acres of farmland in the United States. American Homes 4 Rent holds around 57,024 single-family properties (here). All quotes delayed a minimum of 15 minutes. Merged from the William H. Gates Foundation and the Gates Learning Foundation, The Bill and Melinda Gates Foundation quickly became the largest private foundation in history. The billionaire is one of the founders of the Giving Pledge, which asks the world's wealthiest people to give away most of their fortunes to charitable causes. Climate Connection. Gates has been asked about his farmland purchases before. as well as other partner offers and accept our. As the Land Report notes, 24,800 acres of the land is transitional, located on the western edge of Phoenix, the tenth-largest metropolitan area in the country, and the most populous city in Arizona. As of October 2021, the Asian nation owns $1.065 trillion, or about 3.68%, of the $28.9 trillion U.S. national debt, which is more than any other foreign country except Japan. Business entities have, however, been increasing their presence as owners of rental properties. 28. While the global climate change initiative is trying to reduce total emissions by the year 2050, the year 2030 is also important. It has also funded myriad research facilities and humanitarian operations, focusing on overcoming diseases, climate change, agricultural research, and health and nutrition in underdeveloped areas. While Microsoft took a major hit in the tech crash of 2000, Bill Gates portfolio with Cascade would gain around 40% return in that same year. Is this just a regular investment move, made on a large scale? The report states that Gates has 70,000 acres of land in North Louisiana where they grow soybeans, corn, cotton. As per the Land report and NBC report, Gates has farmlands in Louisiana, Nebraska, Georgia and other areas. According to a January 2021 article by The Land Report, Gates owned 242,000 acres of farmland through two investment management firms - Cottonwood Ag Management and Cascade Investment (here). Reuters traced the figure cited by social media posts as the number of acres owned by Bill Gates to The Land Report, which reports on major land ownership in the United States. The Michigan State University shooter is a 21-year-old man named Lynn Dee Walker. BlackRock is a shareholder in both companies (here) (here). How Old Do I Have To Be To Go To A Strip Club In Michigan? To better understand these questions, it's helpful to review Bill Gates' financial decision through the years, especially as it relates to Microsoft, Cascade Investments, and The Bill and Melinda Gates Foundation. AREA 8 CASH CROPS AND DAIRY Area 8 is the leading cash crop area in Michigan. One such rumor claimed that there had been an unusual number of fires at food processing facilities in 2022. His idea, like many others, was to diversify his investments across different asset classes. 2021. So, what's the interest in farmland? It isless than .1% of all US farmland because the ownership is so diverse. Microsoft founder Bill Gates and his wife Melinda have amassed the largest portfolio of private farmland in the US, according to The Land Report. Since it works as an investment for him, it also includes the benefits of using land as an . Bill Gates was right when he sold his own Microsoft stock to diversify through Cascade in 1994. Neither of these are a perfect option. It has been very fulfilling for me and is my full time job," Gates continued. With more productive seeds we can avoid deforestation and help Africa deal with the climate difficulty they already face. Former Microsoft CEO Bill Gates owns a majority of America's farmland. News reports from the last several years suggest that Gates has at different times invested in start-ups focused on developing artificial or plant-based alternatives to meat, such as Natures Fynd, Hampton Creek, Memphis Meats, Beyond Meat and Impossible Foods. Gates farmland now totals 242,000 acres. Washington, DC That's a ginormous deal, one that pencils out to almost $12,000 per acre for a whole lot of acres. Social media post scrambles the facts on high egg prices," Jan. 13, 2023, Various searches on Google and Nexis, accessed Jan. 24, 2023, The Land Report, "Farmer Bill," Jan. 11, 2021, The Land Report, "Bill Gates is About to Change the Way America Farms," Winter 2020 magazine issue, The Land Report 100, Winter 2021 magazine issue, The Land Report 100, Winter 2022 magazine issue, Email exchange, Eric OKeefe, editor, The Land Report, Jan. 23, 2023, Email exchange, Gates Ventures, Jan. 24, 2023, GatesNotes, "Future of food," March 18, 2013, GatesNotes, "What the plow and lab-grown meat tell us about innovation," Feb. 27, 2019, GatesNotes, "Is there enough meat for everyone?," April 21, 2015, GatesNotes, "Why I would raise chickens," June 7, 2016, U.S. Bureau of Labor Statistics, "Consumer Price Index," Jan. 12, 2023, U.S. Department of Agriculture, "Avian influenza outbreaks reduced egg production, driving prices to record highs in 2022," Jan. 11, 2023, U.S. Department of Agriculture, "2022-2023 Confirmations of Highly Pathogenic Avian Influenza in Commercial and Backyard Flocks," Jan. 18, 2023, U.S. Department of Agriculture, "Avian Influenza," Jan. 18, 2023, U.S. Department of Agriculture, "Farms and Land in Farms, 2021 Summary," February 2022, Reddit, Bill Gates Ask Me Anything, March 19, 2021, Bill & Melinda Gates Foundation, "Agricultural Development," accessed Jan. 24, 2023, Associated Press, "Bill Gates owns a lot of American farmland, but not the majority," May 2, 2022, Vox, "The controversy over Bill Gates becoming the largest private farmland owner in the US," June 11, 2021, NBC News, "McDonald's french fries, carrots, onions: all of the foods that come from Bill Gates farmland," June 8, 2021, Reuters, "Fact Check-Bill Gates doesnt own most U.S. farmland; BlackRock doesnt own most houses," May 5, 2022, CNBC, "Bill Gates and Richard Branson are betting lab-grown meat might be the food of the future," March 23, 2018, CNBC, "Bill Gates bets on growing demand for sustainable foods," May 14, 2015, Bloomberg News, "Lab-Grown Meat Backed by Gates, Tyson Foods Faces U.S. Nov 14, 2022. 1995 - 2023 by Snopes Media Group Inc. Bill Gates speaks during the Global Fund's Seventh Replenishment Conference, Wednesday, Sept. 21, 2022, in New York. Interestingly enough, though the Bill and Melinda Gates Foundation is working on this agriculture initiative. Trump killed them., The Kansas City Chiefs Super Bowl win has been put on hold as NFL plans to launch an investigation on possible (performance-enhancing drug) use by Patrick Mahomes during halftime.. Gates does not own anywhere close to the majority of America's farmland. False. Many people wonder why Bill Gates would make these moves with his investment portfolio. Stay up to date with what you want to know. Who owns the most farm ground in the US? Microsoft founder and billionaire turned philanthropist Bill Gates recently laid the long-time conspiracy theory that he owns some 80% of all U.S. farmland to rest in . Costs are expected to fall in the coming weeks as egg-laying flocks are restored. These allow investors to get stared with as little as $10,000. Gates has a big vision for all that land, but unfortunately it doesn't involve organic, biodynamic or regenerative farming methods, which are needed to heal ecosystems and produce truly sustainable, nourishing food for future generations Our only agenda is to publish the truth so you can be an informed participant in democracy. In April 2022, conspiracy theorists insinuated that billionaire Bill Gates was buying up "the majority" of American farmland as part of a diabolical plot to cause widespread food shortages. Thetech billionaire owns69,071 acres inLouisiana,47,927 acres inArkansas, and 20,588 acres inNebraska. In 2000, the new Gates foundation launched with Bill, Melinda, and Warren Buffet on the trustee board.