by aditya abhishek
Many theorists believe that Bill Gates is buying farmland to carry out bad things, but let's explore the truth of why is Bill Gates buying farmland in the United States.
The United States has a vast area of fertile land. It is the major producer of corn, soybean, cranberry, barley, oats, etc. in the world.
In an "Ask Me Anything” (AMA) session on Reddit, Gates said that he owns less than 1/4000 of the farmland in the US.
According to the data available from the U.S. Department of Agriculture and the National Agriculture Statistics Service, the U.S. has 895,300,000 acres of farmland.
Out of these 895,300,000 acres of farmland, Gates only owns 242,000 acres of farmland, which is around 0.03% of the total farmland in the U.S.A.
Gates also said that buying farmland in the U.S. is a part of his investment plans. He wants to make farmlands more productive and technology-driven in the U.S.
Many financial advisors are claiming that Gates is investing to get tax benefits that you won't get by investing in other commercial real estate and infrastructure.
Gates will earn from these farmlands by renting them to the farmers and is expected to propose a sustainable precision agriculture system to increase productivity.
But, still many U.S. citizens are not satisfied with the replies. They believe it is all hoaxes and Gates is hiding something evil behind his back.
thanks for reading!