The sale of 2,100 acres in North Dakota to Red River Trust, an entity tied to Bill Gates, secured legal approval despite backlash from residents in the area.
Microsoft co-founder Bill GatesThe trust purchased 2,100 acres of Campbell Farms' farmland, which spans two counties, for about $13.5 million – roughly $6,400 per acre – despite backlash from the community, according to multiple reports.Attorney General Drew Wrigley, which were obtained by FOX Business, the sale was made Nov. 4, 2021.
Several months later, on June 29, Wrigley notified Red River Trust that its "current ownership and lease of the land to Campbell Farms, a general partnership, is in compliance" with the law. Gates is considered the largest private owner of farmland in the country with some 269,000 acres across dozens of states, according to last year’s edition of the Land Report 100, an annual survey of the nation’s largest landowners. He owns less than 1% of the nation’s total farmland.
Bill Gates speaks during the Global Investment Summit at the Science Museum Oct. 19, 2021, in London.In a letter to Red River Trust, obtained by FOX Business, Wrigley notified the trust that laws in North Dakota prevent corporations or limited liability companies from owning farmland or ranchland, although there are certain exceptions., Wrigley said in the letter.
"The Corporate or Limited Liability Company Farming Law has certain exceptions, such as permitting registered family farms or allowing the use of the land for business purposes," the letter continued.
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