A Major Celebrity Just Spent Millions On Farmland, But His New Neighbors Are Livid…

Billionaire Bill Gates made his fortune in tech, but he’s now betting big on something completely different: farmland.

According to reports, Gates was able to secure the legal approval for purchasing 2,100 acres of farmland from northeastern North Dakota potato growers Campbell Farms.

Of course, this isn’t the first time Gates has invested in the asset class. Having amassed nearly 270,000 acres of farmland across dozens of states, Gates is already the largest private owner of farmland in America.

Gates’ purchase of farmland in North Dakota initially raised concerns because of a Depression-era law that prohibits corporations and limited liability companies from owning farmland in the region.

However, the anti-corporate farming law does allow individual trusts to own farmland if it is leased to farmers — and that’s what Gates’ firm plans to do. His company, Red River Trust, purchased the land for $13.5 million. The land is spread across two counties.

Local Republicans are furious that Bill Gates and other ultra-rich people are purchasing land in the state. These Republicans fear that the new owners of their state will not share the same values that most people in the state share.

North Dakota’s Agriculture Commissioner Doug Goehring previously told KFYR-TV — a television station in Bismarck, North Dakota — that many people weren’t thrilled about the news.

“I’ve gotten a big earful on this from clear across the state, it’s not even from that neighborhood. Those people are upset, but there are others that are just livid about this,” Geohring said.

According to AWM:

Gates plans to lease the land to potato growers. He has no plans to build anything on the land or use it for any purpose other than farming.

The fact that Bill Gates is allowed to purchase so much land in North Dakota highlights how difficult it is for small farmers and ranchers to compete against big money interests in the United States. The playing field is not level, and it is tilted in favor of the rich and famous.