5 ms·
> now owns a giant amount of the farmland of the US too. What for though? I always hear this, but what's the point of it?
by giancarlostoro 6mo ago
> now owns a giant amount of the farmland of the US too.
What for though? I always hear this, but what's the point of it?
- cma 6mo agoAny given year congress could pass something letting farmland owned before X date be passed to your children without taxes. I've seen lots of congressmen telling sob stories about a constituent losing the 8-figure family farm due to taxes. Gates owns the farmland personally, not in the foundation. But it could just be diversifying assets. Lots of tech billionaires buy up lots of land.
- mikeyouse 6mo agoHe’s donated something like $100 billion already… there’s no chance he’s buying farmland as an inheritance tax dodge.
- giancarlostoro 6mo agoHe has also said it many, many times, he's not leaving his kids anything.
- cma 6mo agoI was thinking Buffett said that and Gates was still leaving some. I don't know why the farmland then. Maybe to get easy access to veterinarian antibiotics.
- Obscurity4340 6mo agoHes leaving them each 10 million but they're all pretty accomplished i believe already
- mrhottakes 6mo agoHoarding resources