Who Owns the Most Property in the US?

Property ownership in the United States is a complex landscape, encompassing diverse land and structures held by various entities. Understanding who owns the most property involves looking beyond individual names to include vast corporate portfolios, extensive government holdings, and significant international investments. Property, in this context, refers to real estate, including land and any permanent structures or improvements. This broad definition encompasses everything from undeveloped land to commercial buildings. Determining “who owns the most” requires analyzing different categories of ownership, each with unique motivations and impacts on land use.

Individual and Family Land Ownership

Individual and family entities represent a substantial portion of private land ownership in the United States. These holdings often consist of undeveloped land, including timberlands, ranches, and agricultural acreage. Ownership is measured by the volume of acres controlled, reflecting generational wealth and strategic acquisitions.

The Emmerson family holds a leading position among individual landowners, possessing over 2.4 million acres of timberland across California, Washington, and Oregon. Their holdings are managed through Sierra Pacific Industries, a major timber products company, emphasizing sustained forestry practices. John Malone, a media executive, owns more than 2.2 million acres across multiple states, including timberlands in Maine and New Hampshire, and ranches in the Western United States. Malone’s investments often align with conservation efforts, reflecting a long-term approach to land stewardship.

Ted Turner, the founder of CNN, controls over 2 million acres. His properties are dedicated to wildlife conservation and ranching, particularly in the Southeast, Great Plains, and Western regions. Stan Kroenke, a sports and real estate billionaire, also holds approximately 1.7 million acres, including the historic Waggoner Ranch in Texas. These large-scale individual and family holdings are managed for agricultural production, resource extraction, or conservation, contributing to various economic sectors.

Landowners leverage their acreage for purposes such as cattle ranching, timber harvesting, or renewable energy projects like wind farms. Bill Gates, while not among the largest overall landowners, is the largest private owner of farmland in the U.S., with over 260,000 acres. These private landholdings are subject to state and local property taxes, and their management decisions influence regional economies and environmental landscapes.

Corporate Property Portfolios

Corporate entities hold diverse property portfolios across the United States, driven by investment, operational needs, and resource extraction. Real Estate Investment Trusts (REITs) are a prominent example, allowing investors to own shares in large-scale real estate portfolios that generate income. These trusts specialize in various property types, such as commercial office buildings, industrial warehouses, residential apartment complexes, or retail centers.

Retail chains, technology companies, and natural resource enterprises maintain substantial property footprints. Retailers own or lease store locations, distribution centers, and corporate offices, forming networks vital to their operations. Technology giants acquire land for data centers, corporate campuses, and research facilities, reflecting their expanding infrastructure requirements. Natural resource companies, including those involved in timber and mining, possess millions of acres primarily for resource extraction and related industrial activities.

Corporate property serves various strategic purposes. Investment-focused firms, including many REITs, aim to generate rental income and capital appreciation from their holdings. Operational use is paramount for businesses like retail chains and technology companies, where real estate directly supports core business functions. Resource extraction companies utilize land for timber harvesting, mineral mining, or energy production, often involving long-term leases or direct ownership of subsurface rights.

Corporate property ownership involves complex financial structures, including debt financing and equity investments. Entities must account for property taxes, maintenance costs, and depreciation expenses, impacting financial statements and tax liabilities. Compliance with zoning laws, environmental regulations, and local building codes is a continuous requirement for corporate property managers.

Government Land Holdings

Federal, state, and local governments own a substantial portion of land in the United States, managing properties for public benefit and governmental functions. The federal government alone manages approximately 640 million acres, accounting for about 28% of the nation’s total land area. This estate is primarily concentrated in the Western states and Alaska.

Key federal agencies manage these land holdings. The Bureau of Land Management (BLM), under the Department of the Interior, administers the largest share, with over 244 million acres of public lands. These lands are managed for multiple uses, including recreation, grazing, and mineral development. The U.S. Forest Service (USFS), part of the Department of Agriculture, manages approximately 193 million acres of national forests, focusing on timber production, recreation, and watershed protection.

The National Park Service (NPS), within the Department of the Interior, oversees about 80 million acres, encompassing national parks, monuments, and historical sites. Their mission centers on preserving natural and cultural resources while providing public access for recreation. The U.S. Fish and Wildlife Service (FWS) manages around 89 million acres, as part of the National Wildlife Refuge System, dedicated to conserving wildlife and their habitats.

The Department of Defense (DOD) holds approximately 8.8 million acres, used for military bases, training ranges, and defense-related activities. State and local governments own considerable land for state parks, forests, schools, and municipal infrastructure. These governmental holdings are exempt from property taxes, but their management incurs operational costs funded through taxpayer revenue, user fees, and federal appropriations.

International Property Investment

International investors contribute to property ownership in the U.S., acquiring diverse assets from commercial real estate to agricultural land. This investment represents a flow of foreign capital into the U.S. economy, distinct from domestic ownership. Foreign buyers purchased $56 billion worth of existing homes between April 2024 and March 2025, accounting for 2.5% of total existing-home sales.

Commercial real estate, including office buildings, hotels, and industrial facilities, attracts foreign investment. These properties are acquired for their income-generating potential and long-term capital appreciation. Luxury residential properties, particularly in major metropolitan areas and vacation destinations, are a target for foreign individuals seeking second homes or investment properties.

Agricultural land has seen increasing foreign interest, with foreign persons holding nearly 45 million acres of U.S. agricultural land as of December 31, 2023. This represents about 3.5% of privately held U.S. agricultural land. While no federal law restricts foreign ownership of private agricultural land, several states have enacted specific limitations or prohibitions.

The primary countries investing in U.S. residential real estate between April 2024 and March 2025 were China, Canada, Mexico, India, and the United Kingdom. Chinese buyers led in dollar volume ($13.7 billion), while Canadians purchased the most agricultural land (15.3 million acres, 33% of foreign-owned U.S. land). Foreign investors often pay in cash; 47% of foreign buyers used cash for residential purchases, significantly higher than the domestic average. These investments are subject to U.S. tax laws, including income tax on rental revenue and potential capital gains tax upon sale, which can be affected by tax treaties.