bruce rastetter net worth

The National Journal recently wrote about him with the headline, "When This Man Calls, Republicans Come Running," accompanied by a photograph of a herd of elephants. The svelte and piercingly blue-eyed Rastetter can be enigmatic. Then theres Stine. Hawkeye went on to build two more plants in Menlo and Shell Rock, and Rastetter maintained his management team. Through all that, Rastetter learned how to fight in the public arena, get out front with his views and influence politicians who help set the rules. Disclamer: Bruce Rastetter net worth displayed here are calculated based on a combination social factors. After breeding many descendants of the seeds with that genetic makeup, the company has developed corn that can be planted in much narrower rows12 inches or even pairs of rows 8 inches apartincreasing the number of plants per acre to as much as 80,000. It wasnt a coincidence: As early as the 1970s Stine, who had taken one business law class at McPherson College, a small liberal arts school in Kansas, was stipulating in contracts the royalties companies had to pay for using his seed and prohibiting them from using the seeds their harvest produced to plant for next season. $35 per post at $7/CPM. Not to say I agree with him," said regent Robert Downer. Rastetter's staff soon called to confirm the appointment with the governor. Rastetter was front and center of the fight. ICCI plans to protest Rastetters corporate ag summit next week. Along with his four children, Stine owns almost 100%. While rivals scoff, he now thinks he can double the worlds output of corn, the most popular crop on Earth. A prolific political donor, Rastetter has spent millions on federal, state, and local politics over the past two decades. Hes already revolutionized agriculture. "Everything he told us was a lie," he said, contending the confinements stunk so bad that he had to move to Colorado for health reasons and that Rastetter trucked most of his feed to Davis County from his own mills. | Who knows if it will last one more time? he chuckles. A lot of business success revolves around timing.". By 1994, he found himself in New York City, a farm boy walking into Rockefeller Center to talk to investors. [2] Hawkeye Renewables was followed by Hawkeye Gold Ethanol Marketing Group in 2008. [2][3], Rastetter first became involved with the Iowa Board of Regents in 2011, becoming its president in 2013. American agribusinessman, agricultural entrepreneur, "Bruce Rastetter, the One Iowan Who Got Jeb Bush To Care About Hogs", "Bruce Rastetter: The quiet, fierce man behind ag summit", https://en.wikipedia.org/w/index.php?title=Bruce_Rastetter&oldid=1095489056, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 28 June 2022, at 17:17. Jon Probst Managing Director. Cities | This day, he talks sparingly about his modest upbringing. He attended the University of Iowa, studying political science. Its a long-running gag hes played on acquaintances, business competitors and even his wife, Molly, who had suffered the misfortune of the elevator actually breaking and had to climb down the ladderin heels. His was the first company in the industry with soybeans to structure licensing agreements so that when companies took a contract with him they could not breed, says Philippe Dumont, a lawyer and seed industry veteran who has spent the past decade working for Bayer. But the joke, conducted amid full view of his empire, serves as a playful reminder: Harry Stine, the dyslexic farm boy turned cunning negotiator, data savant and agriculture visionary, is on top of the world. Im a data and information and facts person; Im not a people person. With $30 million from J.H. After graduating from McPherson in 1963, he did two quarters of graduate work at Iowa State, then went home to work on his fathers modest farm. He previously served as president of the Iowa Board of Regents, working on initiatives across the Regents system, which consists of more than 27,000 employees, 80,000 students and an annual budget of $5.6 billion. Bruce Rastetter, a major Republican donor in Iowa, and Kip Tom, a farmer who ran for Congress in Indiana this year but was defeated in the primary, are also among those being considered,. If you really want to be fair here, you need to go get two more [lawyers], he smirked. After seven years of genetic tinkering hes won plenty of converts. Agribusiness leaders point to Rastetter as the quintessential Iowa farm boy success story, but as hes ascended, hes also become a controversial figure in the state. Bruce Rastetter net worth 513 Thousand Millions of dollars 75% Net worth score Disclamer: Bruce Rastetter net worth displayed here are calculated based on a combination social factors. Rastetter was unhurt. Bruce L. Rastetter is an American agribusinessman, agricultural entrepreneur, and former president of the Iowa Board of Regents, which governs the state's three public universities. Are public universities being used by corporate interests or are they for the benefit of the people?". "What we were doing was more environmentally sound than what we were doing on the small farm I grew up on. [1] Rastetter was also helped by Nick and Jill Ryan, the former runs the American Future Fund, a 501(c)(4) that "pulled in more than $13 million from Koch-backed Freedom Partners in 2012. It takes a minute and a half to learn what there is to learn about plant breeding., At the time public universities dominated breeding, and for good reason: Profits were limited, since intellectual property rights for soybean plants didnt existand wouldnt for another 30 years. What I would say is that over the past several years and cycles hes certainly become more active. Celebrities more often then not want to keep their love affairs secret, if you happen to know the name of Bruce Rastetter's partner, please leave a comment in the section below. "When you see him at fundraisers with top Republicans, it raises a whole lot of concerns. He launched Hawkeye Energy Holdings, rapidly growing it into the third-largest pure play ethanol company in the country helping to pump billions of gallons of corn-fuel into Americans gas tanks before selling to a Koch Industries subsidiary in 2011. He managed additional start-up companies that merged into Heartland Pork, a Midwestern pork production company acquired by Christensen Farms that has since become one of the largest pork producers in America. The conventional spacing of corn rows has also largely persisted at 30 inches or more in modern agriculture, with narrower rows in use on less than 5% of corn acres in North America as of 2012, according to rival DuPont Pioneer. While juggling such concerns as a regent, Rastetter keeps busy as CEO of the Summit Group, which has farming operations in the U.S., other investments and plans to build an ethanol plant in Brazil. It also requires more fertilizer and new planting and harvesting machinery specially fitted for the narrower rows. On one of the windiest days in recent memory Harry Stine, the richest man in Iowa, cranes his neck to examine the elevator shaft inside the 110-foot steel observation tower next to his garage. So how did he come out of the hog market downturn smelling so good? ", "It was about Bruce supporting a friend he saw work hard," Sweeney said. "It's part of the reason I got into politics," Rastetter said. In 2014, he joined the board of Cultivation Corridor, an ag-bioscience firm. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Hes kidding, of course. He's bringing in young people like Summit President Eric Peterson, 29, who used the same phrase as a longtime employee in voicing appreciation that Rastetter "calls a spade a spade. That means most of the biomass is using valuable resources that dont necessarily improve a farmers yield. He said he really wants a serious policy discussion rather than stump speeches, which in past couple of presidential cycles have only really addressed ethanol. Bruce Rastetter is not amused by the "kingmaker" label often thrown around by the press. And you sit next to me. In a gathering of movers and shakers at Rastetter's home, he asked Branstad to run again. Asked about the potential perception that he failed at two industries and still came out ahead, he scoffs. After all, one year he allowed Branstad to take his private jet from a governor's conference in Milwaukee to his summer party, held on his $537,440 country estate near Hubbard. They think, How can this be? Get notification with the latest net worth updates for free. He stated, "Mergers like this have the potential to put into motion irreversible damage to agriculture."[9][10]. Rastetter, whose company has a financial interest in agriculture subsidies and strong land prices, in particular, is eager to insert farm policy into the 2016 conversation, though he is coy about his own policy positions. But no research thus far has shown that ultrahigh populations combined with narrow rows significantly increased corn yield., It is an interesting story and a great conversation piece, adds Tony Vyn, professor of agronomy at Purdue University, but a sideline to the real drivers of corn yield and economic efficiency gains that are needed most for this decade., For farmers theres a sizable capital risk in switching. 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Growing up on a 300-acre family farm near Alden, Iowa, Rastetter started his career with his own feed management business. For now, Rastetter is not endorsing a candidate he says he wants to be a neutral host at his summit. BP Slows Pace of Share Buybacks as First-Quarter Profit Dips, Indias Imports of Russian Oil Dwarf Iraq, Saudi Flows: Chart, RBA Shock Hike Spurs Strategist Clash About Global Rate Bets, Weak Yen Pushes Japan Inflation Expectations to Four-Month High, Australia Signals More Tightening After Surprise Rate Hike, Snoop Dogg, Ryan Reynolds Spark Speculation of Bid toBuy OttawaHockey Team, FIFA Threatens to Pull Broadcast of Womens World Cup in Europe, CEOs Warning of ChatGPT Threat Sparks 38% Rout in Edtech Stock, Telecom Firms Face Refinancing Risks as Big-Spending Era Bites, Samsung Bans Staffs AI Use After Spotting ChatGPT Data Leak, Nigerian President-Elect Tinubus Family Bought Fraud-Linked London Mansion, Can Biden win again? Knowledge of those diagnoses was all but nonexistent at the time. "One of the things the chairman of Whitney investments told me, 'No one has done anything without someone helping them.' The Stine network of 1,700 dealers was selling Stine soybean products in 15 states under 160 brands. These results are automatically generated from Google. And when we were after change in policy, he was a tiger.". Number one, we contained the manure, and two, we used it as a nutrient (spreading it on fields for fertilizer). I view it as trying to make a difference.". Based in Adel, Iowa (pop. State executives | A DuPont Pioneer study from 2012 concluded that for most of the Corn Belt narrow rows do little to increase yields. If the politicians heading to Iowa to be part of his summit should know anything, it's that he wants them to do their homework. So I asked to be appointed to the regents.". Disclamer: the number about Cody Decker's Instagram salary income and Cody Decker's Instagram net worth are just estimation based on publicly available information about Instagram's monetization programs, it is by no means accurate. What is this - to train Fabulous Bruce Rastetters corn whiskey lobbyists? According to internet, Bruce Rastetter's height is 1.75m. We identified top influencers across the country through several means, including the following: The link below is to the most recent stories in a Google news search for the terms BruceRastetter. Sure, there were odors associated with it. Rastetter was born near Iowa Falls, Iowa. According to the latest Twitter stat on 2023-04-26, Bruce Rastetter has a total favourites count of 3 on the Twitter account and Bruce Rastetter has 33 followers on the same Twitter account. Rastetters friends are quick to dismiss his critics, many of whom they argue are simply deeply and irrationally opposed to the kind of large-scale agriculture Iowa has mastered. How the 58-year-old self-made millionaire assembled one of the biggest GOP cattle calls yet is illustrative of the influential network hes built over the past several years, as hes emerged as the states top Republican donor at both the federal and state level, donating nearly half a million and $1.1 million, respectively, since 2003, according to campaign finance disclosures sums that are likely a fraction of his total giving to groups that dont have to disclose their donors. The agribusiness entrepreneur and president of the Iowa Board of Regents, who has given more than $1.1. The estimated Net Worth of William H Rastetter is at least $6.55 Million dollars as of 1 April 2022. The Evolution of Corn (Click to see full graphic). Terry Branstad was a decade removed from a record 16 years as governor. A dozen potential Republican presidential candidates are about to sit down, one by one, with the biggest GOP donor in Iowa a multimillionaire few people outside the state have ever heard of. Hes been diagnosed with environmentally-induced asthma and since moved to Colorado, he said. ". Influencers in American politics are power players who help get candidates elected, put through policy proposals, cause ideological changes, and affect popular perceptions. He also founded Hawkeye Renewables, which became one of the countrys largest pure-play corn-based ethanol producers, and FS Bioenergia, a Brazilian low-carbon biofuels and energy platform that owns the largest biofuels production plant in South America. I could smell the stench from them all the time, no matter which way the wind blew.. He's somebody whose opinions I value greatly. In the coming days, Rastetter will be narrowing down what questions hell ask the candidates on March 7. Neither party will disclose the agreements terms, but that deal contributed to the phenomenal success of the Roundup Ready soybean seed, a technology thats now used in 96% of the soybean acreage in the U.S., likely generating in excess of $10 billion for Monsanto since 1997. His experience in the hog industry taught him there was a time to go to market, he said. It has nothing to do with whether he supported me," Branstad said. Bruce Rastetter heads the Agriculture Summit. He's flipping around a football. 5. He is always ready for a good fight," said Craig Lang, his friend, fellow agribusinessman and former regents president. In early 2015, Rastetter brought a number of 2016 Republican presidential candidates to his Iowa Agriculture Summit for face-to-face public interviews. If a farmer could buy your seed one year and then simply use the offspring or seeds from the plants it grew the next year, he could cut the seed developer out of the loop while retaining the powerful genetics. Also follow photographers Charlie Litchfield (@CharlieLitch), Kelsey Kremer (@Kelsey_Kremer) and Michael Zamora (@mzamoraphoto) to see photos and other updates from the event. The Register political team includes Kathie Obradovich (@KObradovich), Jennifer Jacobs (@JenniferJJacobs), Jason Noble (@JasonNobleDMR), William Petroski (@WilliamPetroski), Brianne Pfannenstiel (@BrianneDMR), Josh Hafner (@JoshHafner), Annah Backstrom (@AnnahBackstrom) and Carol Hunter (@CarolHunter). Ballotpedia does not curate or endorse these articles. [1], In 1994, three years after the birth of his first company, he consolidated his feed management, construction, and swine projects into Heartland Pork Enterprises. It also might work to throw in the magic Iowa words work ethic that are so ingrained in Rastetter's DNA. And also embracing success and encouraging people to try.". Click here to contact our editorial staff, and click here to report an error. Bruce Rastetter, chief executive officer of Summit Agricultural Group, based in north-central Iowa, said this week his ethanol plant in Mato Grosso, Brazil's largest agricultural region, is. Its very simple. Aside from whatever financial ties exist, Ryan and Rastetter are close allies. You ought to feel good about that success. "That would probably be something at one point that I wished had not happened. State and local courts | But this cycle, hes taking a different approach. Theres people who want to move us back to the 1930s and 1940s. When Branstad appointed Rastetter to the Iowa Board of Regents in 2011, Rastetter became an ally of Lang, then the board president. And I wanted to do something that would make a difference. You had to be thinking about it before the whole boom even started, and then the market cooled so fast.". Along the way, hes tried his hand at investing, including helping build and sell a craft beer-company. Stine, the 72-year-old founder and owner of Stine Seed, the largest private seed company in the world, built this tower back in 1987 so he could get a good view of his empire, some 15,000 acres of frozen Iowa farmland. By breeding corn seeds genetically predisposed to thrive when planted in high densities, he thinks he can supercharge the engine generating animal feed, biofuels and food for the whole planet. Subscribe. And I think we need principled leaders, which is one of the reasons I encouraged Branstad to run again. Owner: rastetter, bruce l Tax Year: 2017 Tax Amount: $7956 Total Market Value: $542,990 +Edit Neighbors View All Past Address Crescent, IOWA FALLS, IA 50126 View Address Owner: rastetter, bruce l Tax Year: 2010 Tax Amount: $3156 +Edit Past Address 10640 Highway D20, Alden, IA 50006 View Address +Edit Past Address Brent Rastetter said his older brother helped him earn money for college and showed him the ropes of business, leading him to today run his own company, Quality Ag Builders, which builds hog confinements. Twice. 3. "The market was right, and he took advantage of it," said Walt Wendland, who founded Golden Grain Energy in Mason City. Terry Branstad. The fund began with the acquisition of 56 farms across four states and generated income from lease income and capital appreciation. I thought Bruce was perfectly situated to make it happen., But Ryan also disputes the notion that Rastetter is a kingmaker in the state. Now heres whats going to happen. Rastetter defends his charitable donations, noting, for starters, that he's given $3.1 million to the University of Iowa, $2.3 million to Iowa State University, and $50,150 to University of . Nonetheless, we hop into the elevator cab, he flips the switch to get it moving, and up we go as the wind rips into us at 40mph. Were willing to give Stine the benefit of the doubt for a simple reason. Its an event designed to promote farm policy in a state where pigs outnumber voters 10 to one, but its also a bold display of the political power Rastetter has amassed and a reminder to candidates that his endorsement would be a big get ahead of the Iowa caucuses. "We were fortunate on the timing of it. "The alternative is you don't do anything. Moreover, he could start his own breeding program using the seeds. Your email address will not be published. That lead was solidified in 2013, when the protections of patented seeds like Roundup Ready withstood a challenge in the U.S. Supreme Court. If you ask political observers in Iowa about Rastetter, the term kingmaker inevitably comes up, but Rastetter and his allies dispute the idea. I understand how folks could look at him that way, he said. But a fancy biotech trait offered limited value if the genetic base of the seed was inferior and overall yields suffered. But he saw his hard-charging brother, then 39, change after the accident, ease up on the little things. "Bruce is like I am. For farmers the Roundup Ready soybean seed would be an industry-changing innovation that reduced time and labor battling weeds. YOU HAVE 10,000 FOLLOWERS: Required fields are marked *. Theres always going to be a certain amount of jealousy, said Branstad. Rastetter said it was unfortunate that the deal unraveled. Bruce is the kind of person who never forgets a friend.. Gary Klicker, a native of Davis County, Iowa, blames Rastetter for turning his community into a pork confinement stronghold that now smells of manure after the expansion of Heartland Pork in the late 1990s. His disabilities were actually advantages that let him see things in ways others did not. Some students said they felt the full weight of pressure for criticizing an influential donor. And now, Rastetter is getting up close and personal with the presidential hopefuls in full view of the media and other deep-pocketed donors. [5] In early 2015, Rastetter, with the help of Iowa governor, Terry Branstad (R), brought Republican presidential candidates Jeb Bush, Scott Walker, Chris Christie, Ted Cruz, Rick Santorum, Donald Trump and Mike Huckabee. A highly-courted donor, Rastetter has steadily and strategically built his personal and political brand over the past several years. In response to several "no confidence" votes against the Iowa Board of Regents this week, board President Bruce Rastetter said Wednesday he was pleased backlash has been directed at the regents. Tuition has been frozen for three years straight. Then know this: Rastetter gave $5 million in 2008 toward upgraded Hawkeye football training facilities. "I got really busy and pretty independent, and I kind of do what I want to do," he said. He donated more than $160,000 to Gov. It is a good reminder to those tempted to confine innovation solely to the world of Silicon Valley that some of the most impressive and fundamentally important advances on Earth are occurring today in agriculture, and the global epicenter is Americas heartland. Please only use it for a guidance and Bruce Rastetter's actual income may vary a lot from the dollar amount shown above. "It came and went so fast. Bruce Rastetter CEO Ames, Iowa, United States 9K followers 500+ connections Join to view profile Summit Agricultural Group University of Iowa Company Website About Born on farm near Alden, Iowa. Monitor your investments 24 hours a day, around the clock from around the globe. As of April 2023, Robert De Niro's net worth is estimated to be $500 Million, making him one of the richest actors of all time. Wanna follow Bruce Rastetter's net worth? https://ballotpedia.org/wiki/index.php?title=Bruce_Rastetter&oldid=8736876, Pages using DynamicPageList3 dplreplace parser function, Conflicts in school board elections, 2021-2022, Special Congressional elections (2023-2024), 2022 Congressional Competitiveness Report, State Executive Competitiveness Report, 2022, State Legislative Competitiveness Report, 2022, Partisanship in 2022 United States local elections, Local knowledge of our professional staff, Surveys of activists, thought leaders and journalists from across the country and political spectrum, Outreach to political journalists in each state who helped refine our lists. In the early 1930s, prior to the Dust Bowl, 7,000 corn plants per acre were grown in the U.S., yielding about 27 bushels per acre. Kevin Bogenreif Managing Director. Before the market chilled, Rastetter had worked out a deal with Thomas H. Lee Partners, which bought 80 percent of Hawkeye Holdings, investing $312 million, according to the book "Extreme Money: Masters of the Universe and the Cult of Risk" by Satyajit Das. At the time Monsantowith Fraley, then president of the companys genomics group, leading the chargehad developed the biotechnology to insert genes into crop seeds, making them resistant to glyphosate, the plant-killing herbicide in the companys dominant weed killer, Roundup.
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