JD Vance has been accused of profiting off of what has been labeled the “Uber of U.S. farmland,” but what exactly do these accusations really mean?
his past comments calling Trump “America’s Hitler” to his more recent comments calling the U.K. “an Islamist country” after the Labour party’s election win. While he may not be your typical Republican in some ways, in many ways Vance is very much a member of the party through and through.
One way in particular is his blatant hypocrisy and racism. Despite his previous racist remarks and, you know, being a Republican, Vance seems to have no qualms about profiting off of a company that helps foreign investors buy U.S. land — something I’m sure many Republican voters, particularly the rural working class from which Vance came, and that he describes in his memoir Hillbilly Elegy, would certainly have an issue with.
That’s right, a post to X has already alerted many to Vance’s business dealings which I’m sure he’d rather keep quiet. According to Dr Sarah Taber (@SarahTaber_bww) the potential Republican VP is one of the key investors in a company called AcreTrader, she also shares an article from BusinessWire which goes into more detail regarding the company.
What is AcreTrader?
According to the article shared by Dr. Taber, the company “dynamically connects investors, land, and farmers.” It has recently raised $40 million to expand its reach allowing more investors to invest in U.S. farmland. This isn’t necessarily a problem, although there are many that don’t like the idea of U.S. land being so easily bought by investors from outside the country.
Is JD Vance really profiting off of AcreTrader?
The article doesn’t go into detail regarding the investors in the company, however, Fast Company lists it as one of his many investments that are under $15k, although it doesn’t specify how much he’s in for, exactly. Vance’s investment firm, Narya, owns huge stakes in AcreTrader according Dr. Taber, and checking the company’s investor portfolio on Pitchbook.com shows that the firm is indeed investing in the business.
According to an article from TechCrunch, Vance stepped down from running Narya Capital, but Dr. Taber points out that “there’s no sign that he’s sold his stake or handed over control of his ownership.” So all things considered, it seems likely that he is still profiting from stakes in AcreTrader.
The Response
The responses to the post are a strange mix of Republicans who have come in to defend Vance, with one individual accusing Dr. Taber of “spitting falsehoods,” and what seems like more Republicans coming in to call Vance a “traitor.” Dr. Taber specifies that she believes “fear-mongering over foreigners buying US farmland” is overblown, but that it does raise some security questions.
Published: Jul 19, 2024 11:25 am