Bill Gates responds to questions about owning 275,000 acres of farmland – Singapore News

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Microsoft King Bill Gates is one of the largest private landowners in the United States. Gates owns 275,000 acres of farmland, according to a 2022 Land Report.

In an annual Reddit Ask Me Anything session on Jan. 11, Gates was asked why he made all these purchases.

“Why are you buying up so much farmland, do you think this is a problem with billionaire wealth and how much you can acquire disproportionately?” asked a Reddit user.

Bill Gates’ answer to the question was, “I own less than 1/4,000 of the farmland in the US. I invested in these farms to make them more productive and create more jobs. There is no grand plan involved – in fact, all these decisions are made by a professional investment team.”

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“As for the very wealthy, I think they should pay a lot more taxes and they should give their wealth away over time. It gives me great satisfaction and it’s my full-time job,” said Gates.

Bill Gates and taxes

Gates has been advocating for higher taxes on the wealthy for some time now. In a blog post way back in 2020, he had said, “The rich should pay more than they currently do, and so should Melinda and me.”

This isn’t the first time Bill Gates has been asked about his farmland either. Last year a Reddit user asked him, “What do you plan to do with all the farmland you bought?”

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His answer was, ‘My investment team bought the farmland. It is less than 0.1% of all farmland in the US because the ownership is so diverse. We invest in farms to increase productivity. Some are close to cities and may have other uses.”

Bill Gates himself is no stranger to controversy, after his divorce and rumors of hushed affairs and his involvement with the likes of Jeffrey Epstein, Gates has lost what was once a philanthropic halo around his head. Despite that, his good billionaire and civic sense still exists and has some value for the work he does.

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Gates is a founding member of the Giving Pledge, which advocates for the world’s richest people to give away most of their fortunes to charitable causes. The pledge was initiated by his ex-wife Melinda Gates and Warren Buffet.

The Bloomberg Billionaire Index lists Gates as the sixth richest man in the world with a net worth of $111 billion.

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The report of Bill Gates responding to questions about his 275,000 acres of farmland appeared first on TBEN News.

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