What do you do when you have excess money? You buy an expensive farmland and make the world know about your investments. That’s Bill Gates for us! Latest reports claim that one of the richest men on this planet has made a hefty investment in a farmland. Bill Gates is said to have purchased 14,500 acres of land in Southern Washington and of course, it has not come cheap. A report published in the Land Report portal states that Mr Gates spent $171 million to purchase this land.
Bill Gates made this investment last month and purchased this farmland from John Hancock Life Insurance Co. The Insurance Company had bought this land in the year 2010 for $75 million. Within 8 years, the value of this land became more than double and Bill Gates landed up buying this property. According to the report, this purchase is said to be the most expensive U.S land sale so far this year.
The land purchased includes 10,500 acres of irrigated farmland, 3,900 of rangeland and 140 in an area known as Horse Heaven Hills.
Bill Gates estimated worth is said to be $98.9 billion till date as per Bloomberg Billionaires Index and this purchase definitely did not create a dent in his pocket.
Enjoy your farmland Mr Gates.