Bill Gates, co-founder of Microsoft (MSFT) and one of the world’s richest individuals, has quietly become the largest private farmland owner in the United States over the past few years. According to the latest reports, his holdings currently total just under 250,000 acres of farmland spread across at least 17 states. His total land ownership, including non-agricultural land, is approximately 275,000 acres.

Gates confirmed the farmland figures himself in a 2023 Reddit AMA, stating:

“I own less than 1/4000 of the farmland in the US. I have invested in these farms to make them more productive and create more jobs. There isn’t some grand scheme involved — in fact, all these decisions are made by a professional investment team.”

Technically, 1/4000th of U.S. farmland would put Gates’ ownership under 0.025%, but with total U.S. farmland acreage declining by roughly 2 million acres per year, owning 248,000 acres today equates to approximately 0.0283% of the current 876 million acres of U.S. farmland. Gates reportedly owns an additional 27,000 acres of non-farmland, bringing his total holdings to 275,000 acres. That makes Gates the largest private owner of U.S. farmland, and all of his land makes him the 43rd largest individual landholder overall in the country.

According to The Land Report, Gates’ farmland holdings stretch from Washington and Oregon to the panhandle of Florida. Most of these acquisitions occurred between 2017 and 2018, with the total outlay estimated at hundreds of millions, or even billions of dollars. Among the most significant deals: he spent $690 million on 100 Circles Acreage in Eastern Washington and on parcels purchased from the Canada Pension Plan Investment Board. In Nebraska, he acquired $113 million worth of land, now totaling 20,000 acres across 19 counties. Another notable transaction was a $171 million purchase in Benton County, Washington, acquired at just under $12,000 per acre.

A detailed estimate from a Land Report’s 2021 infographic put Gates’ largest farmland concentrations at 69,021 acres in Louisiana, 47,927 acres in Arizona, 20,588 acres in Nebraska, 17,940 acres in Illinois, and 16,097 acres in Washington. He also owns 14,828 acres in Florida and 4,509 acres in California. His smallest reported holding was just 1 acre in New Mexico.

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While Gates has stated that there’s no “grand scheme” behind these purchases, a degree of secrecy seems to have been involved. Investigate Midwest reported that the land is owned via more than 20 shell companies, which he used to secure at least $700 million in loans around 2021 — a common wealth strategy among ultra-high-net-worth individuals. Loans are not taxable events, and given Gates’ creditworthiness, he can lock in favorable interest rates. Upon his death, the assets will likely receive a step-up in basis, allowing his heir presumptives to avoid capital gains taxes on appreciation.

According to available reports, Gates’ farmland is used for the production of corn, soybeans, potatoes, rice, and carrots, among other staples. Some of the potatoes grown on his land are processed into McDonald’s French fries — a small but symbolic example of how his acreage feeds into major supply chains.

Corn prices are currently hovering around $4.25 per bushel, down from last year's highs but still above historical averages, driven by ethanol demand and Midwest weather volatility. 

Soybeans, trading near $9.89 per bushel, have seen upward pressure due to drought conditions in Brazil and continued Chinese demand. 

By owning productive farmland in key states, Gates is indirectly exposed to — and perhaps protected from — the volatility that characterizes agricultural markets. For investors watching commodities, this is a prime example of how hard assets like farmland offer a hedge against inflation, weather risk, and geopolitical shocks in global supply chains.

As agricultural land becomes scarcer, more expensive, and more important for national food security, Gates’ investments might look increasingly prescient. Institutional interest in farmland is growing — and with the advent of fractional land ownership, REITs, and tokenized farmland platforms, retail investors are following suit. Whether you're tracking crop futures or looking at land as a hedge, Gates’ farmland strategy is a reminder that commodities investing isn’t limited to the boardroom — it’s rooted in the soil.