American billionaires are showing off their farmland for elaborate hobbies, but a buying spree among the ultrarich risks pricing farmers out

American billionaires are buying large amounts of farmland for elaborate hobbies or as assets to hedge against inflation. Agriculture advocates worry that this trend risks pricing out actual farmers and making it difficult for beginning or existing growers to expand. Farmland has become a $4.3 trillion asset class due to its perceived safety and correlation with rising costs.