Here’s His Answer In Free-For-All AMA

Microsoft founder and billionaire turned philanthropist Bill Gates not too long ago laid to relaxation the long-time conspiracy idea that he owns some 80% of all U.S. farmland in his eleventh look in an “Ask Me Anything” (AMA) session on Reddit.What Happened: Gates, answering dozens of questions over the course of some hours through the AMA, together with: “Why are you shopping for up a lot farmland, do you assume it is a downside with billionaire wealth and the way a lot you may disproportionally purchase?”In response, he mentioned, “I personal lower than 1/4000 of the farmland within the US. I’ve invested in these farms to make them extra productive and create extra jobs. There is not some grand scheme concerned – in truth all these choices are made by knowledgeable funding staff.”While Gates has spent billions investing in farm properties to make them extra productive, new corporations have innovated methods for the retail investor to earn passive revenue in the actual property market. Here’s the way to make investments as little as $100 (or extra, relying in your urge for food) in a rental property to earn passive revenue and construct long-term wealth.Last 12 months, conspiracy theorists claimed that the Microsoft founder was shopping for up farmland within the U.S. as a way to starve Americans for an unknown motive, Snopes mentioned, after researchers mentioned in April that the world was dealing with a possible meals scarcity on account of Russia’s invasion of Ukraine.Read additionally: Which Billionaire Owns The Most Land In The U.S.? Hint, It’s Not Bill GatesIn response to a 2022 report from the U.S. Department of Agriculture and the National Agriculture Statistics Service, there are 895,300,000 acres of farmland within the U.S.Gates owns roughly 242,000 acres, amounting to about 0.03% of the overall.To put it into perspective, if all of Gates’ land was in a single place, it will cowl about 25% of Rhode Island.Check Out More on Real Estate from BenzingaStory continuesPhoto: courtesy of Shutterstock.Don’t miss real-time alerts in your shares – be part of Benzinga Pro without spending a dime! Try the software that can aid you make investments smarter, quicker, and higher.This article initially appeared on© 2023 Benzinga doesn’t present funding recommendation. All rights reserved.

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