Monday, November 25, 2019

Who owns the most land in America? Jeff Bezos and John Malone are among them

Spanning over 3.5 million square miles, the United States is the third largest country in the world by landmass, trailing only China and Russia. While over a quarter of all land in the United States is owned by the federal government – here is a look at how much land the government owns in every state – vast swaths of the country are owned by just a handful of individuals and families. Using data from The Land Report magazine’s 2018 Land Report, 24/7 Wall St. reviewed the 50 largest private landholders in the United States. Estimates are based on information from published reports, online databases, tax records, and information provided by various landowners, and include only rural land holdings. All told, the 50 individuals, families, and heirs on this list own over 31 million acres – or about 1.4% of the country’s total landmass. For reference, one square mile is equal to 640 acres. This ranking is current as of the end of 2018. The vast majority of the land held by the individuals and families on this list is located in states west of the Mississippi River. The most common exceptions to this rule are parcels located in Maine and Florida. While this list only includes privately held land, nearly all of it serves some commercial purpose – from farming and ranching to logging and renewable energy production. Not only do the private land holdings on this list often generate income for their owners, but also real estate itself is a valuable commodity. Not surprisingly, many of the people on this list rank among the wealthiest Americans. Here is a look at the richest person in every state
5. Stan Kroenke
• Land area: 1.4 million acres
• Roughly equal to: The size of Prince Edward Island
Real estate mogul and owner of the Los Angeles Rams, Stan Kroenke, owns 1.4 million acres of land in the United States, including a 124,000 acre ranch in Montana and additional land in Wyoming. Kroenke is married to Ann Walkton Kroenke, an heiress to the Wal-Mart fortune.
4. Reed family
• Land area: 1.7 million acres
• Roughly equal to: Half the size of Connecticut
For five generations, the Reed Family has owned and operated the logging company Green Diamond Resource Co. The family's 1.7 million acres of land are primarily spread across Washington, Oregon, and California.
Future of farming: No soil at all
3. Emmerson family
• Land area: 2.0 million acres
• Roughly equal to: A third of the size of New Hampshire
The Emmerson family owns and operates Sierra Pacific Industries, a company that logs usable lumber after forest fires and sells it to lumber retailers. Through Sierra Pacific, the family owns some 2 million acres in California and Washington.
2. Ted Turner
• Land area: 2.0 million acres
• Roughly equal to: Twice as large as Rhode Island
CNN founder Ted Turner owns 2 million acres of land largely in New Mexico, South Dakota, Nebraska, and Georgia. Much of Turner's land is used as grazing land for over 50,000 head of buffalo – the largest private herd of bison in the world.
1. John Malone
• Land area: 2.2 million acres
• Roughly equal to: Half the size of Lake Ontario
John Malone is the largest private landowner in the United States. Malone made his fortune as a media tycoon, building the company Tele-Communications, Inc, or TCI, and acting as its CEO before selling it to AT&T for $50 billion in 1999. Malone's 2.2 million acres are largely located in Maine, New Mexico, Colorado, and Wyoming and include profitable cattle ranches.

Read the complete article for the entire list of 50.

No comments: