Wednesday, June 14, 2017

Billionaires buying farms

Billionaires are buying farms as a hedge against catastrophe, say several U.S. reports.

Reid Hoffman, the cofounder of LinkedIn, told The New Yorker earlier this year he estimates more than 50 per cent of Silicon Valley billionnaires have bought some level of "apocalypse insurance," like an underground bunker.

A new article in Forbes magazine suggests that billionaires are making big land deals in America's heartland, where the climate is mild and the locations are conducive to survivalism, farming, and living on the land.

States such as Colorado, Montana, Nebraska, New Mexico, North Dakota, Texas, and Wyoming are home to a number of fortified shelters and vacation homes where wealthy billionaires could happily live out their post-doomsday (or retirement) days.

According to Forbes contributor Jim Dobson, lots of billionaires have private planes "ready to depart at a moment's notice."

They also own motorcycles, weaponry, and generators.