No one seems to love the great outdoors as much as billionaires do.
America’s wealthiest are snapping up huge swathes of farmland, and while some are using it for their elaborate hobbies, agriculture advocates worry the broader trend of the rich purchasing tillage is putting the livelihood of actual farmers at risk.
Billionaires like Mark Zuckerberg and Alexis Ohanian have effectively dubbed themselves amateur yeoman, putting the ultrarichs’ hobby of tending to the land in the spotlight. In an episode of the Idea Generation podcast published last month, the Meta CEO said he is working to create the perfect steak by raising wagyu and angus cattle on his ranch on the Hawaiian island of Kauai. Called Ko’olau Ranch, the $300 million property has expanded to about 4,000 acres after he first bought land on the island in 2014.
“I’m very into the genetics of the cattle,” Zuckerberg said.
Investor and Reddit cofounder Ohanian offered a tour of his family farm in Jupiter, Florida, in a LinkedIn post on Thursday, showing off banana shoots, an herb garden, and apiary. He has owned the farm for six years.
