But Gates, despite some interests in food technology, was simply doing what wealthy investors have been doing, in increasing volume, for years: treating farmland as a commodity, a particularly rock-solid investment that can be flipped later for a profit.
In Iowa, finds a study by Iowa State University, an acre of cropland gained 1.7 percent in value just in 2020—and that’s with food systems massively disrupted.
The chief problem is a farmer’s inability to control, or often even own, their own land, which puts a tremendous amount of control in the hands of a person or entity that is not farming that land.
These landlords, many of which are simply investors or investment groups, can raise rent prices to the point where farmers can’t make a profit, because the value of the land continues to increase.