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Bill Gates owns more land than the entire city of New York, while Jeff Bezos possesses double the amount at 420,000 acres. The largest private landowner in America, John Malone, owns 2.2 million acres, slightly less than Puerto Rico's size. Collectively, the 100 richest private landowners in the U.S. own 1.86% of the country's total land, mainly consisting of forests, ranches, and farmland. Land values are increasing; in the mid-1990s, farmland was valued at under $1,500 an acre (adjusted for inflation), and by 2020, it rose to $3,160 an acre. Wealthy individuals are primarily purchasing land, and institutional capital, a $3 trillion asset class, is becoming more significant in the market.
