Bill Gates buys land, in most expensive US land sale of 2018

NEW YORK (October 1): Costing US$171mil (RM708mil), 14,500 acres of farmland in southern Washington was purchased by Bill Gates in what is the most expensive US land sale so far this year, reports Bloomberg, citing Land Report.

The Microsoft Corp co-founder bought the property last month from John Hancock Life Insurance Co. In 2010, the land was sold for US$75mil 

The land includes 10,500 acres of irrigated farmland, 3,900 acres of rangeland and about 140 acres in an area known as Horse Heaven Hills.

The deal involved several layers of corporate buyers, the publication said. One of them, Louisiana-based Angelina Ag Co, shares the same corporate mailing address as Gates’ Cottonwood Ag Management in Kirkland, Washington, the Land Report said, citing a story in the Tri-City Herald.

Bloomberg reports that Gates’ net worth is estimated at US$98.9bil (RM409.69bil), making him the world’s second-richest person, as listed in the Bloomberg Billionaires Index. 

Bloomberg, citing Land Report, reports that prior to this sale, the largest US land purchase this year was the Investment Corp of Dubai’s US$136mil acquisition of the 38,453-acre El Maximo Ranch in Florida in April.