This article was originally published on June 24, 2022.
Microsoft Corporation MSFT co-founder Bill Gates’ The purchase of 2,100 acres of farmland in North Dakota has reportedly sparked unrest among local residents and has prompted the state’s chief attorney to intervene in the matter.
What happened: Attorney General of North Dakota Drew Wrigley shot a letter to Gates-Linked Red River Trust in this week, reported KFYR, Bismarck, TV Station from North Dakota.
Wrigley asked the company how it intends to use the land and whether there are any exceptions to state corporate farming laws.
“Any corporation or limited liability company (LLC) is prohibited from owning or leasing farmland or ranch land and engaging in farming or ranching,” the letter said, according to the report.
“In addition, the statute places certain limitations on the ability of trusts to own farmland or ranch land.”
The company has 30 days to respond to the June 21 letter. The public reaction to the Red River purchase was not positive, reported KFJR.
“I got a big ear for this from across the state,” said the North Dakota commissioner of agriculture Doug Goehring.
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Why it matters: The Gates-affiliated company purchased nearly 2,100 acres of farmland in the northern Red River Valley from the owners of Campbell Farmsa potato plantation in North Dakota, reported AGWeek.
The transaction is reported to be valued at nearly $13.5 million, with an approximate average price in Pembina and Walsh counties of $6,400 per acre. Most of the land is not irrigated.
Gates is said to be the one largest private farmland owner in the United States, with 242,000 acres in 19 states, according to a previous report.
Gates said in a Reddit interaction last year that the “agriculture sector is important.” He said his investment group bought the land.
“With higher-yielding seeds, we can avoid deforestation and help Africa deal with the climate problems they already have…
