Large-scale land buying is intensifying in areas around Yellowstone, turning the region into one of the leading hubs of elite real estate in the United States, In These Times writes.
The areas in question span Montana and Wyoming and encompass the Yellowstone ecosystem, which covers tens of millions of acres. Buyers are acquiring vast ranches, land along trout rivers, and plots overlooking mountain ranges. These holdings are often structured through intricate corporate networks, making it difficult to identify the ultimate owners.
In several counties, a significant share of the largest landholdings is already concentrated in the hands of a narrow circle of wealthy owners. They include Home Depot founder Arthur Blank, figures from the oil and investment industries, and a family connected to Cargill.
After acquiring the land, owners often place it under so-called conservation regimes, restricting development through special agreements. Formally, such measures are aimed at protecting nature, but in practice they help preserve privacy, minimize proximity to neighbors, and raise asset values by creating an artificial scarcity of land.
At the same time, the segment of gated resort enclaves is expanding. One of the best-known projects is Yellowstone Club, where access costs hundreds of thousands of dollars and whose membership includes billionaires and public figures.
Owners are also aggressively defending their interests in court, opposing projects that could alter the landscape, including wind farms and gold mining. The result is a model in which vast natural territories are effectively brought under private control.
Against that backdrop, pressure on local residents is mounting: housing and land prices are rising, the tax burden is increasing, and access to traditional forms of recreation—hunting, fishing, and tourism—is shrinking as more territory is privatized.
The publication also notes that some of the capital flowing into these assets is generated in extractive industries and agribusiness, including in regions marked by acute environmental problems.