News

Bill Gates Buys Massive Amount of Farmland in North Dakota, But the State AG Just Stepped in

https://www.westernjournal.com/bill-gates-buys-massive-amount-farmland-north-dakota-state-ag-just-stepped/?

Attorney General Drew Wrigley sent a Tuesday letter to the trust, demanding answers on how he intends to use (or hoard) the land he purchased in the state.

North Dakota law restricts the ownership and leasing of farmland to corporations and limited liability companies. In addition, there are certain limitations with regard to trusts.

If Gates’ trust is unable to demonstrate that it’s using the land in accordance with state law, he could face fines of $100,000 unless the trust divests from the land within one year.

Bill Gates acquired six parcels of land in Pembina County. Tuesday, the office of the Attorney General sent out a letter asking the Red River Trust to confirm how the company plans to use the land and if it meets any of the exceptions to the North Dakota Corporate Farming Laws. pic.twitter.com/MGGFKV16mm