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Bill Gates owns more land than the entire city of New York, while Jeff Bezos owns double that amount at 420,000 acres. John Malone is the largest private landowner in America, holding 2.2 million acres, slightly smaller than Puerto Rico. Together, the 100 richest landowners in the U.S. own 1.86% of the country’s land, primarily consisting of forests, ranches, and farmland. There is an increasing appreciation for the beauty of farms. The value of farmland has risen from less than $1,500 per acre in the mid-1990s to $3,160 by 2020, making it expensive. Wealthy individuals largely drive land purchases, with institutional capital becoming a significant factor in this $3 trillion asset class.
