Chinese Billionaire Chen Tianqiao Ranks as Second-Largest Foreign Landowner in the US
Chinese billionaire Chen Tianqiao, renowned for his success in the online gaming industry, has secured his position as one of the most substantial non-American landowners in the United States. Chen, aged 50, has amassed a vast portfolio, particularly in Oregon, making him the 82nd-largest property owner in the country, according to the recent Land Report ranking.
Chen’s ownership encompasses a staggering 198,000 acres (80,127 hectares) of Oregon timberland, a valuable asset that places him among the top individual foreign holders of American land. This acquisition, valued at $85 million, was completed in 2015 when he purchased the acreage from Fidelity National Financial Ventures. Recent Oregon tax records revealed Shanda Asset Management as the beneficial owner, aligning with Chen’s Singapore-based holding group.
The Chinese entrepreneur’s Oregon property positions him just behind the Irving family of Canada, who stand at No. 6 on the Land Report’s list, boasting over 1.2 million acres of Maine timberland. Foreign ownership of US land has become a contentious political issue, especially concerning land dedicated to farming. As of 2021, approximately 40 million acres of American agricultural land were owned by non-US entities, with Chinese interests accounting for a minute .03% of total US farmland.
In response to these concerns, some lawmakers have advocated for national regulations limiting foreign investments in American agricultural property. A Senate vote in July aimed to impose restrictions on the sale of farmland beyond specific acreage or value to individuals or businesses from China, Russia, Iran, and North Korea. However, the proposed measure did not ultimately become law. Presently, nearly half of all states have some form of restrictions on foreign land ownership.
Chen Tianqiao, originally from Zhejiang Province, made his mark in the business world by founding the online gaming company Shanda Interactive in 1999. Within five years, it evolved into one of China’s largest internet companies, earning a listing on the Nasdaq in the US. In 2012, Chen privatized the company and relocated his holding group’s headquarters to Singapore from China.
His diverse investments span public and private equities, venture capital, and real estate, according to information available on Shanda’s website. Chen and his wife, Chrissy Luo, showcased their commitment to philanthropy by initiating a $115 million donation in 2016 to establish the Tianqiao and Chrissy Chen Institute for Neuroscience at the California Institute of Technology. The institute focuses on advancing the understanding of the human brain.
In recent years, ultra-wealthy investors seeking refuge from inflation and diversification have increasingly turned to farmland and rural properties. The average value of US cropland witnessed an 8.1% surge last year and has surged over a third since 2020, according to the USDA. This trend is driven by a combination of food demand, high inflation, and a growing interest in unique properties, such as classic western ranches, offering both recreational opportunities and investment potential.
At the pinnacle of US landownership are the Emmerson family, proprietors of the Sierra Pacific Industries timberland empire, followed closely by billionaires John Malone, Ted Turner, and Stan Kroenke. As Chen Tianqiao solidifies his position as one of the prominent foreign landowners, the dynamics of global land acquisition and ownership continue to be a topic of significant interest and discussion.
