World's 10 Richest Farmers in 2024: Top Earners in Agriculture
- Love And Other Tractors
- Jan 4
- 10 min read
Updated: Apr 19
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Farming has long been a crucial aspect of human civilization. Today, agriculture is not just a means of sustenance; it is a thriving industry generating immense wealth.
In this article, we delve into the profiles of the world's 10 richest farmers in 2024, showcasing how innovation and dedication can transform traditional practices into lucrative ventures. By examining their journeys, we gain insight into the evolving landscape of global agriculture.
Let's meet these farmers.
World's 10 Richest Farmers in 2024
1. Bill Gates - Owns vast farmlands in the U.S.
Surprised? Bill Gates has become a significant farmland owner in the United States. He owns hundreds of thousands of acres of farmland across the country. The tech mogul and philanthropist invests in these lands for various reasons, including sustainable agriculture.
We understand that Gates is not only interested in technology but also in food production. His investment strategy involves purchasing farmland in multiple states. This approach allows us to see his commitment to diversifying his portfolio.
With an estimated 270,000 acres, Gates holds a small fraction of the entire U.S. farmland, which totals over 893 million acres. Despite this, he is considered one of the largest private farm owners in the nation. His involvement has sparked discussions about the impact of wealthy individuals in agriculture.
Did You Know: The U.S. Department of Agriculture estimates that 30% of all farmland is owned by landlords who don’t farm themselves. Buyers often purchase land from farmers who have owned it for decades; many of whom may be asset rich but maybe cash poor.
Gates argues that owning farmland helps in addressing climate change and food security issues. Through research and innovation, we can see the potential benefits of such ownership helping to develop sustainable farming methods.
Bill Gates on current food crisis and solutions for our future.
2. Stewart Resnick - Known for his immense farming operations in California
Stewart Resnick is a prominent figure in the agricultural industry. As a farmer, he has developed some of the largest farming operations in California. He co-owns The Wonderful Company with his wife, Lynda, which has significant influence in the state's agriculture.
We know that Resnick's farms produce a variety of crops. This includes nuts, citrus fruits, and other produce. Resnick owns a large portion of the nation's pistachio farms. In fact, he controls about 65% of the nation's pistachio supply.
His impact on California agriculture is significant. The scale of his operations is due to strategic acquisitions. For example, he began expanding into farming in the late 1970s when he purchased citrus groves in Central Valley.
We should also note Resnick's business background. Before agriculture, he found success in different industries. He and Lynda owned The Franklin Mint and Teleflora. Their business acumen carried into their farming ventures, making them leaders in the industry.
The Resnicks are also majority owners in the Kern Water Bank, one of California's largest underground water storage facilities.
3. Harry Stine - Innovator in Corn and Soybean Genetics
Harry Stine is utterly a remarkable figure in agricultural innovation. He transformed the farming industry with his advancements in corn and soybean genetics. Our understanding of seed genetics owes a lot to his pioneering work.
Harry's journey began in his home state of Iowa, where he developed a keen interest in plant breeding. His work in seed genetics led to collaborations with major agribusinesses, enhancing our ability to produce high-yield crops. These developments helped many farmers increase their output and efficiency.
His company, Stine Seed, is a key player in the seed genetics market. They provide cutting-edge corn and soybean seeds, making them a leading producer in the field. Stine's innovations continue to shape agricultural practices nationwide.
Did You Know: Stine Seed Company is the world's largest private seed company, and the largest independent seed company in the US. It has more than 900 patents, specializing in soybean and corn genetics, is based in the small town of Adel, Iowa, and is almost entirely owned by Harry Stine and his four children.
Harry Stine's influence extends beyond business. His dedication to improving crop genetics provides invaluable benefits for global food production. By focusing on quality and yield, Stine has made significant contributions to modern agriculture. His story inspires us to innovate and explore new frontiers in farming.
Listen to his story with his own words.
4. Liu Yonghao - A Key Player in Agribusiness in China
Liu Yonghao stands as one of the most influential figures in China's agribusiness scene. He began his career as a teacher at a technical school; but in 1982, he and his brothers decided to quit their government jobs. They ventured into breeding quails and chickens, selling them to farmers.
In 1992, Liu and his brothers founded the Hope Group, focusing on the animal feed business. Over the years, this enterprise evolved to become the largest animal feed group in China. His leadership has played a crucial role in expanding the business.
Today, Liu heads the New Hope Group, a major conglomerate with operations spanning 30 countries, and it employs nearly 70,000 people. The company's influence extends to over 600 subsidiaries worldwide.
Liu's success in agribusiness is impressive. He has not only become one of the richest people in China but also the richest farmer worldwide. His journey from a small poultry business to leading a global agribusiness giant is remarkable. Liu Yonghao remains a key player in China's agriculture industry, showcasing innovation and growth.
An interview with Liu Yonghao in 2016 (with English subtitles)
5. Qin Yinglin - World's Largest Pig Breeder
Qin Yinglin, the world's largest pig breeder, plays a vital role in modern farming. Born in Henan Province, China, he is the chairman and CEO of Muyuan Foods. This company is one of China's largest pig breeding and pork production businesses.
Qin has transformed the pig farming industry by maintaining more pigs on his own farms compared to other companies. This approach gives us better control over hygiene and safety standards, crucial for the pork industry.
Did You Know: Qin Yinglin started his business with just 22 pigs in Henan province, China. How many pigs do you own right now?
His wealth underlines his immense success. According to the Bloomberg Billionaires Index, his net worth was listed at $19.6 billion, marking him as a major financial figure in farming. His influence extends across China's agriculture sector, impacting both local and global markets.
Within his company, innovation is central to operations. Qin's leadership focuses on improving farming techniques and expanding production. The rise in Muyuan Foods' stock prices has significantly boosted his fortunes. This reflects the robust demand and strong performance of his enterprise in the market.
Not bad for a young man with only 22 pigs, huh?
6. Ivan Glasenberg - Invests Heavily in Agricultural Commodities
Ivan Glasenberg is well-known for his role in Glencore, one of the largest commodity trading firms. Although he primarily focused on mining and energy, his investments in agricultural commodities are significant.
Our attention is drawn to his influence in shaping Glencore’s agricultural division. This division contributes to global grain and oilseed markets. By focusing on these key areas, Glasenberg has positioned himself to take advantage of changing market dynamics. As investors, we can appreciate how diversifying into agriculture aligns with global trends.
Did You Know: Glasenberg was born 7 January 1957 in South Africa to a Jewish family. His father, Samuel Glasenberg, was "a luggage manufacturer and importer born in Lithuania", and his mother, Blanche Vilensky, was South African. Glasenberg has also been a champion race-walker for both South Africa and Israel, and runs and swims daily to maintain his fitness.
He was born in South Africa and has Australian and Swiss citizenship. Progress in sectors tied to food production underlines how interconnected these markets are with commodities like metals and energy. Understanding how Glasenberg leverages his expertise gives us insights into the future of agri-business investments. His success inspires us to look closely at how agricultural commodities fit into broader investment strategies.
His presentation at Vilnius Conference in 2023 on sustainability.
7. Al-Waleed bin Talal - Major investments in Saudi agriculture
Al-Waleed bin Talal, member of the Saudi royal family, is known for his diverse investments. While he is globally recognized for his ventures in banking, real estate, and media, his role in agriculture within Saudi Arabia is significant.
We observe that he has invested in various agricultural projects to boost the local economy. His investments aim to support food security in the region. By leveraging his financial influence, he seeks to enhance technology and infrastructure within the agricultural sector.
His focus on sustainable practices aligns with Saudi Arabia's Vision 2030. The goal is to reduce the country's dependence on oil by diversifying its economy. Through these efforts, he supports the development of modern farming techniques.
Did You Know: On 4 November 2017, Al Waleed and other prominent Saudis were arrested in Saudi Arabia, in a purge that the Saudi government characterized as an anti-corruption drive. The allegations against Al Waleed include money laundering, bribery, and extorting officials. Al Waleed was released from detention on 27 January 2018, following a financial settlement of some kind, after nearly three months in detention. In March 2018 he was dropped from the World's Billionaires list due to lack of current information. He was listed in the 'Top 100 most powerful Arabs' from 2013 to 2021 by Gulf Business.
Several projects emphasize water conservation and energy-efficient technologies. These initiatives play a crucial role in transforming the agricultural landscape in the kingdom. Al-Waleed's investments in agriculture are not only about profit but also about creating sustainable solutions for future generations.
Take a look at agricultural investments and innovations in Saudi Arabia.
8. Kerry Stokes - Australian billionaire with significant agribusiness interests
Kerry Stokes is a well-known Australian businessman with diverse interests. Among his many ventures, he has significant agribusiness holdings. We recognize him as a prominent figure due to his influence in various industries.
His business activities span electronic and print media, property, and mining. Stokes is also involved in construction equipment and media. Despite these interests, his contributions to agribusiness are notable.
Did You Know: Stokes' first reported job was to install television antennas in Perth, followed by a sustained period in property development throughout the 1960s and 1970s. He also developed a range of shopping centres in Perth and regional Western Australia with partners Jack Bendat and Kevin Merifield.
Stokes founded Seven Group Holdings, a conglomerate with diverse interests. His leadership has shaped the company's growth and development. Through Seven Group, he has maintained a strong presence in agribusiness.
He was also ranked among the top billionaires as of 2024. His net worth reflects his successful business ventures across different sectors. This wealth supports his ability to invest in various industries, including agriculture.
He steps down as Seven Group Holdings chairman in 2021.
9. Stan Kroenke - Owner of large American ranches and farms.
Stan Kroenke is a prominent figure in American agriculture. As a billionaire with interests in sports and real estate, his influence extends deeply into farming. He holds vast amounts of land across the United States, making him one of the largest landowners in the country.
Our attention is caught by Kroenke's extensive holdings, which include ranches in Wyoming, Texas, and other states. He owns a 550,000-acre ranch in Wyoming, which is said to be the largest contiguous ranch in the Rocky Mountains.
In Texas, Stan Kroenke is known for his management of the historic Waggoner Ranch, which covers 560,000 acres. His approach includes ecological management practices to protect the ranch's wildlife resources.
His total land ownership in the U.S. reaches about 1.7 million acres. This land includes ranches in Wyoming, Texas, Montana, and Nevada, among others. Through smart acquisitions and management, Kroenke's agricultural empire continues to expand.
Here's a report by Bloomberg Business about historic Waggoner Ranch, the largest ranch within one fence in the United States. It was acquired by Stan Kroenke in February 2016.
10. Donald Bren - Holds extensive agricultural properties in California
Donald Bren, known as a prominent real estate developer, is also involved in the agricultural sector. As part of his holdings, Bren owns extensive agricultural properties across California. These lands are a testament to his diverse business interests.
Research shows that Bren's properties are not just about real estate development. They involve significant agricultural use, contributing to California’s farming industry. This aligns with the state's rich tradition of agriculture, which is crucial to its economy.
Bren's approach to land management emphasizes sustainability and smart planning. His real estate ventures often include elements of environmental responsibility. This ethos extends to his agricultural properties as well, highlighting a commitment to sustainable practices.
In the context of wealth and farming, Donald Bren exemplifies how real estate and agriculture can intersect. His diverse land holdings make him a significant figure in both industries. For more about his legacy, visit Donald Bren's story on Styles Rant.
Donald Bren spoke to the Urban Land Institute about Irvine and the process of master planning a community after receiving its ULI Vanguard Award.
Challenges Faced by Wealthy Farmers
Wealthy farmers often juggle running large-scale operations while adapting to shifts in the global market. Balancing these tasks requires making strategic decisions and staying ahead of international trends and challenges.
Balancing Business and Farming
For wealthy farmers, managing both business operations and farming aspects can be complex. They need to ensure that their businesses remain profitable while maintaining sustainable farming practices. This demands a keen eye for financial management, resource allocation, and labor management.
The business side often requires them to deal with issues such as regulatory compliance and investment in technology. Farmers with large operations might find it challenging to keep pace with advancements and implement them effectively.
Labor management becomes crucial. Recruiting and retaining skilled workers is a priority, as they need a workforce that understands both technology and traditional farming techniques.
Staying competitive means they must always look for innovative solutions to enhance productivity without compromising quality.
Navigating Global Market Dynamics
Global market dynamics pose significant challenges as they directly affect pricing, demand, and supply chains. For them, understanding these dynamics is essential to making informed decisions on crop production and livestock management. Market shifts can be unpredictable due to geopolitical factors, trade policies, or economic fluctuations.
Price volatility in global markets can lead to uncertain revenue streams, requiring them to hedge against potential risks effectively. Trade barriers or tariffs can also impact their ability to export goods or access necessary materials.
Additionally, they must consider the environmental regulations that vary across countries. These regulations can affect how they operate, requiring them to adopt new practices that align with international standards.
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