World's Richest Farmer (2024)

FAQs

Who is the world richest farmer? ›

Qin Yinglin (Chinese: 秦英林; pinyin: Qín Yīnglín, born 1965) is a Chinese agriculture tycoon, billionaire, Communist Party member, and the world's richest farmer. He is the chair and president of the pig farming company Muyuan Foodstuff and is one of the richest people in China. According to Bloomberg Billionaires Index, ...

Stewart Allen Resnick (born December 24, 1936) is an American billionaire businessman. In 2018, Resnick was the wealthiest farmer in the United States.

Dairy Farming: Dairy farming is one of the most profitable agricultural business ideas. Aside from milk, it also produces manure. There is a high demand for organic dairy products all year round such as milk, cheese, curd, cream and so much more.

For commercial farmers, their median family net worth is 23 times the median American family net worth.

Farm Household Wealth and Income

Farm operator households have more wealth than the average U.S. household because significant capital assets, such as farmland and equipment, are generally necessary to operate a successful farm business. In 2022, the median U.S. farm household had $1,376,404 in wealth.

The largest landowner in the world currently is King Charles III of England. How much land does the Royal Family own? He and the British Royal Family own more than 6,600,000,000 acres of land around the world. They technically own many territories around the globe, amounting to 1/6 of the surface of the planet.

The Simplot family's Idaho-based farm and food business includes more than 400,000 acres of potatoes and other crops. Billionaires Stewart and Lynda Resnick own almost 200,000 acres of farmland, growing orchards of pomegranates and pistachios .

The Land Report 100 research team analyzes transactions and scours records to determine America's leading landowners. That's how we broke the news in 2020 that Microsoft co-founder Bill Gates was America's largest farmland owner with more than 260,000 acres.

Cattle are among the most profitable livestock for small farms because they are easy to raise and offer multiple income opportunities. While large-scale cattle farms — which can create sustainability concerns — raise cows primarily for meat, small farms can capitalize on various products to increase their bottom line.

What are poor farmers called? ›

A peasant is a pre-industrial agricultural laborer or a farmer with limited land-ownership, especially one living in the Middle Ages under feudalism and paying rent, tax, fees, or services to a landlord.

Recently released US Department of Agriculture data show that, in 2021, farmers received a record-low 14.5 cents for every dollar Americans spent on food. Nevertheless, total farm cash receipts are expected to reach an (inflation-adjusted) record of $541 billion in 2022.

The middle class may be said to include the middle and upper levels of clerical workers, those engaged in technical and professional occupations, supervisors and managers, and such self-employed workers as small-scale shopkeepers, businesspersons, and farmers.

In 2022, the median income from farming was $178,692 for households operating commercial farms, and their median total household income was $252,728. Households associated with intermediate farms reported median farm income of -$125 and a median total household income of $73,304.