Inside Track
Chinese Billionaire One of Top 100 U.S. Landowners
The Land Report magazine noted in an online article on January 8 that Tianqiao Chen, a Chinese billionaire and member of the Chinese Communist Party, has joined the “Top 100” landowners in the United States, landing at No. 82 on the list.
Using a front company called Whitefish Cascade Forest Resources, Chen bought almost 200,000 acres of timberland in Oregon in 2015 for $84 million, or $430 an acre. The real owner is Chen’s Shanda Asset Management LLC, the magazine reported, citing Oregon tax records.
Chen owns more than the massive 312.5-square-mile tract in Oregon — he also owns Bull Springs Skyline Forest, a 33,000-acre tract of ponderosa pine (which the company currently has listed for sale at $95 million, or $2,800 an acre), as well as 500,000 acres in Ontario, Canada, and multimillion-dollar “landmark” U.S. estates in Manhattan and San Marino, California.
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