Chinese Millionaire Becomes Second-Largest Foreign Owner of US Farmland

  • by:
  • Source: Wayne Dupree
  • 01/15/2024
Chinese millionaire and CCP member, Chen Tianqiao, has become the second-largest foreign owner of farmland in the United States. The co-founder of Shanda Interactive Entertainment purchased 200,000 acres of farmland in Oregon in 2015, making headlines.

Congresswoman Elise Stefanik, a Republican from New York, questioned the current government, claiming that the Biden administration had "dropped the ball" in safeguarding the valuable American agricultural lands. According to Stefanik, "Communist China is buying US agricultural land to undermine our agriculture industry, encroach on our military installations, and upend rural communities in America." 

She was one of many lawmakers from both parties who wrote to Agriculture Secretary Thomas to express their displeasure with the lack of federal control over property transactions made abroad. 

Senator Jon Tester of Montana, meanwhile, asked Congress to defend US land security. "As the details of this developing situation become clearer, it emphasizes the need for Congress to take further action to safeguard American agricultural security," he said.

The unexpected thing is that there are no official records of Chen's acquisition. Foreign investors must notify the Department of Agriculture of any new interest in American agricultural land within ninety days of the transaction, as per the Agricultural Foreign Investment Disclosure Act.

Chen co-founded Shanda Interactive Entertainment, a major online game firm in China. With notable success, the company grew rapidly within a short span of five years. Chen's involvement includes experience in various video games, such as Final Fantasy XIV and Dungeons & Dragons Online. Shanda Interactive Entertainment raised $152 million for its IPO and was listed on NASDAQ. Chen's net worth, as reported by Forbes in 2024, stands at $1 billion. Additionally, he holds significant foreign ownership of American properties, second only to the Irving family of Canada, who own 1.2 million acres of forest in Maine.


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