🧵 1. Aging billionaire cowboys in America are selling their iconic ranches as millions of acres will change hands, with investors as main buyers. #business
🧵 1. Aging billionaire cowboys in America are selling their iconic ranches as millions of acres will change hands, with investors as main buyers. #business
🧵 2. High net-worth buyers are attracted to the ranch lifestyle, leading to strong value appreciation. Multi-generational ranches are becoming a thing of the past.
🧵 5. Brokers like Hall and Hall and King Land & Water are handling the sales of these legendary ranches, signaling a shift in ownership and the end of an era.
🧵 3. The largest ranch in Carmel Valley, CA, was recently sold for $35 million by an 81-year-old angel investor, Mike Markkula. The Wildlands Conservancy now owns the property.
🧵 4. Experts say many ranch owners aged 75+ are looking to simplify their estates and pass the torch. Extended families scattered across remote locations lead to less interest in gathering at these iconic properties.
🧵 Read more at: https://www.forbes.com/sites/jimdobson/2023/09/26/aging-billionaire-cowboys-are-now-selling-their-iconic-american-ranches/