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Bill Gates owns more land than the entire city of New York, while Jeff Bezos has double that, totaling 420,000 acres. John Malone is the largest private landowner in the U.S. with 2.2 million acres, slightly smaller than Puerto Rico. The 100 wealthiest landowners in America control 1.86% of the country's land, mainly consisting of forests, ranches, and farmland. Land is becoming increasingly valuable; in the mid-1990s, farmland was below $1,500 per acre (adjusted for inflation), but by 2020, it reached $3,160 per acre. As land prices rise, only wealthy individuals can typically afford it, and institutional capital is becoming a significant part of this $3 trillion asset class.