Chinese Tech Mogul Chen Tianqiao Secures Spot Among Top U.S. Landowners
Source: The DairyNews
Renowned Chinese billionaire, Chen Tianqiao, has claimed a prominent position among America's major landowners with his vast Oregon timberland acquisition.
The 50-year-old entrepreneur, who amassed his fortune in online gaming, now stands as the 82nd-largest property owner in the U.S., according to the latest ranking by The Land Report.
Chen Tianqiao, through his Singapore-based holding group Shanda Asset Management, acquired 198,000 acres of Oregon timberland from Fidelity National Financial Ventures for a notable $85 million in 2015. This makes him one of the leading individual owners of American land by a non-U.S. citizen, second only to the Irving family of Canada.
Foreign ownership of U.S. land has become a sensitive issue, particularly in the realm of agriculture. As of 2021, around 40 million acres of American agricultural land were owned by non-U.S. entities, with China holding a mere 0.03% of the total. In response to concerns, some lawmakers have advocated for national regulations restricting foreign investment in American agricultural property. Although the Senate voted in favor of restricting the sale of farmland to certain foreign entities, the measure did not make it into law.
Chen Tianqiao, originally from Zhejiang Province, founded Shanda Interactive in 1999, a venture that quickly rose to become one of China's largest internet companies within five years. After going public on the Nasdaq, Chen took the company private in 2012 and relocated his holding group's headquarters from China to Singapore.
Chen Tianqiao, through his Singapore-based holding group Shanda Asset Management, acquired 198,000 acres of Oregon timberland from Fidelity National Financial Ventures for a notable $85 million in 2015. This makes him one of the leading individual owners of American land by a non-U.S. citizen, second only to the Irving family of Canada.
Foreign ownership of U.S. land has become a sensitive issue, particularly in the realm of agriculture. As of 2021, around 40 million acres of American agricultural land were owned by non-U.S. entities, with China holding a mere 0.03% of the total. In response to concerns, some lawmakers have advocated for national regulations restricting foreign investment in American agricultural property. Although the Senate voted in favor of restricting the sale of farmland to certain foreign entities, the measure did not make it into law.
Chen Tianqiao, originally from Zhejiang Province, founded Shanda Interactive in 1999, a venture that quickly rose to become one of China's largest internet companies within five years. After going public on the Nasdaq, Chen took the company private in 2012 and relocated his holding group's headquarters from China to Singapore.
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