According to the Associated Press, Bill Gates was given the go-ahead to purchase a large amount of farmland in North Dakota.
The tech mogul had to fight state law to purchase it, and a number of locals are not happy with the outcome.
"I've gotten a lot of feedback from all over the state, it's not even from that neighborhood," said North Dakota's Agriculture Commissioner Doug Goehring. There are others that are just livid about this.
Corporations and other businesses can't own farmland in North Dakota because of a Depression-era law.
According to the AP, individual trusts can buy agriculture land if they lease it back to farmers. The property was secured by the controversial philanthropist.
Gates has quietly been buying farmland for several years now, in a weird twist to his tech career. Currently, the billionaire is America's top private farmland owner with about 270,000 acres.
Gates isn't the only billionaire who put their faith in the resource. Warren Buffet is a fan of the investment, and recently remarked that he would take a 1 percent interest in all the farmland in the US.
Both figures are notorious for their dislike of Web3 assets, so it's not surprising that they're both fans of this important resource.
Gates has a lot of wealth already, even though land has long been associated with wealth and power. It's worth keeping an eye on who owns what as property values continue to increase and land consolidation continues.
The AG of North Dakota cleared the purchase of farmland with Bill Gates in mind.
Man uses life savings to buy nonexistent land.
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