In some countries, it’s who owns the oil. In others, its who creates the next Instagram or Twitter. But in Uruguay, it’s who owns the land and what they produce from sheep to steers to soybeans.
The 120 Richest People in Uruguay is the headline of the list compiled by Entorno Inteligente which is dominated by large-scale land owners and agricultural producers in Uruguay departments like Artigas, Cerro Largo, Durazno, Florida and Rocha.
40 of the 120 wealthiest people in Uruguay together own more than 1 million hectares (2.5 million acres) of Uruguay farmland which is used for cattle, timber and crops like soybeans, corn and rice. The land value alone is estimated at US$5 billion and accounts for 5% of the country’s total cattle stock: 500,000 head valued between US$200 and $300 million.
The second tier of wealthy Uruguayans own smaller farms ranging from 1,000 to 5,000 hectares (2,500 to 12,300 acres) with a declared land value ranging from US$5 million to $25 million.
In summarizing the evolution of land ownership in Uruguay, the article concludes: “The farm landscape have changed dramatically over the last thirty years due to the purchase of timberland and cattle ranches by multinational companies and foreign investors.” (Full Story in Spanish)
For more information about South America land investments, complete the form below.