A highly-courted donor, Rastetter has steadily and strategically built his personal and political brand over the past several years. Harreld, who starts as president Monday [November 2], visited Cedar Rapids in early June to attend a meeting with Board of Regents President Bruce Rastetter and Jean Robillard, UI's vice president of medical affairs and chairman of the UI Presidential Search and Screen Committee. He started feeding hogs on contract in 1984, and within two years, 500 head grew to 100,000. I OWA CITY, Iowa (AP) Iowa Regent Bruce Rastetter on Thursday defended working with Iowa State University to pursue a large-scale land development in Africa that could . Seeds were planted in rows 42 inches apart so horses could traverse the fields. Schlieman Operating Partner. WE CAME UP SHORT. Thats good news since the worlds population continues to grow by about 85 million every year, while arable land remains scarce. He needed to diversify. That means most of the biomass is using valuable resources that dont necessarily improve a farmers yield. Bruce Rastetter, the "philanthropist", has used money effectively to wield power in politics and the public realm. "Dollars you contributed help those people get elected, which is what our system is. Elections in 2023 | 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. Aside from a small, glass-walled house, its his only visible indulgence. Among them was Garry Klicker, whose land was adjacent to some of Heartland's confinements in Davis County. Just how much pull does Rastetter have? Its going to take some time, says Rastetter, who is experimenting with Stines model. He got help from Branstad, whom he recruited to run for governor in 2010 and was his top donor. He began breeding corn to thrive at higher planting density: shorter plants with smaller tassels and more upright leaves that attract more sunlight. A leaner, more efficient plant. A friend once described a gathering for a well-known Texan who went bankrupt. U.S. Congress | About the time Heartland was sold, investors at Whitney called to ask him if he wanted to work with ethanol. To pay for the change, youd need at least an immediate 10% yield improvementand 20% to 30% to really benefit a farms bottom line, estimates Bruce Rastetter, CEO of Summit Group, which grows corn and soybeans on 20,000 acres of land in Iowa and Nebraska. For Klicker, Rastetter is the poster boy for everything thats wrong with big pork. Public policy. There has never been a Bruce Rastetter bill in the Iowa Legislature that has benefited me. [1] Career [ edit] Please only use it for a guidance and Bruce Rastetter's actual income may vary a lot from the dollar amount shown above. The svelte and piercingly blue-eyed Rastetter can be enigmatic. Much like he is in business, when he puts his mind to something hes very focused and works very hard and more often than not is successful.. The Stine network of 1,700 dealers was selling Stine soybean products in 15 states under 160 brands. I think its already working.. Cities | School districts | But, as a consequence of his learning disabilities, Stine always worked slowly and carefully. But one thing wasn't golden, a tragedy in 1995 that changed how he looked at life. Stine Seed was first in line to get its top-performing varieties patented. George Clooney. Aside from whatever financial ties exist, Ryan and Rastetter are close allies. He is cautious. He grew up on a small farm near Buckeye, with three brothers and a sister. Then know this: Rastetter gave $5 million in 2008 toward upgraded Hawkeye football training facilities. Please let us know if you think data we have about Bruce Rastetter's height is not correct. Bruce Rastetter is not amused by the "kingmaker" label often thrown around by the press. He has been buying up land in Africa along with the Iowa-based Summit Group and Global Agriculture Fund of the Pharos Financial Group, in partnership with AgriSol Energy LLC and the College of Agriculture and Life Sciences at Iowa State University, and Serengeti Advisers Limited, a Tanzanian investment and consulting firm led by Iddi Simba His disabilities were actually advantages that let him see things in ways others did not. "That would probably be something at one point that I wished had not happened. [2] Rastetter created Hawkeye Energy Holdings in 2003, now one of the nation's largest pure-play ethanol producers. They sold off the jet skis and never went riding again. Stines business model had been blessed by the highest court in the land. Having conquered pork, Rastetter then turned his sights to ethanol. Our germplasmour genetic base hereis the best in the world, says Stine. In 2014, he joined the board of Cultivation Corridor, an ag-bioscience firm. Future changes in production practices could favor narrow rows at some point, says Mark Jeschke, DuPont Pioneers agronomy research manager. James Marsden - Net Worth, Age, Height, Family, Biography 2023, Anthony Pompliano Net Worth Phone Number, House Address, Wiki, Ashley Massengill Net Worth | Bio, Family, Address, Career, Atlas Monroe Net Worth | Age, Height, Weight, Dating And More, Beyonce S Net Worth Phone Number, House Address, Wiki, Blue Ivy Net Worth Phone Number, House Address, Wiki. Ryan said the agriculture summit was his idea. ". Wanna follow Bruce Rastetter's net worth? "No matter what endeavors, Bruce always supports his friends.". The cables look awfully frayed. 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. Stine flipped the conventional wisdom on its head. 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. But they always encouraged him to work hard toward a better life. Rastetter took all the business leaders out to dinner at the country club in Bloomfield, Iowa, to help sell pork expansion as a great thing for the community, he said, but Davis County remains among the poorest in the state. 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. As founder of Agrisol Energy Corp., Rastetter pursued a deal with the Tanzanian government that would have used Iowa State University's expertise to develop farmland there and, in the original proposal, would have displaced refugees. In Iowa, Bruce Rastetter's Summit Agricultural Group said earlier this year that it was creating Summit Carbon Solutions, which plans to accept carbon emissions from biofuel facilities across. 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. I don't view it as being a kingmaker. And apparently a lot of people working in the same industry cant see that. 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. In addition to making more money each day, Bruce Rastetter is becoming more and more well-known by the day. "Bruce is like I am. The would-be candidates and people in their orbit have been calling Rastetter and his team asking for help as they mull their positions on the issues. The Ryans consulting and lobbying firm Concordia Group is organizing the agriculture summit. A prolific political donor, Rastetter has spent millions on federal, state, and local politics over the past two decades. Bankrupt Bruce Rastetter. "Bill Knapp is a friend of mine," he said of the influential Democratic donor from Des Moines, "but I don't often see him get written about as a mogul or a real estate baron, compared to an ethanol baron. podcast episodes, Brokers, Bagmen, & Moles podcast episodes, Connections with BCD Travel podcast episodes, Cyber Security & Cloud Podcast podcast episodes, Coinbase Institutional Market Call podcast episodes, South Side Rules: A Shameless Podcast podcast episodes. You had to be thinking about it before the whole boom even started, and then the market cooled so fast.". He is a very caring, sincere individual who doesnt ever forget somebody, he said, noting that Rastetter invites a broad range of people, from folks he went to Sunday school with all the way through the people on Wall Street. Now people from all walks of life have started evaluating his merits. "But I think the experiences I've had in life and people I've met, we've tried to have some fun. Rastetter said that quietly building relationships and nurturing those friendships led to his business breakthrough. Monitor your investments 24 hours a day, around the clock from around the globe. He is always ready for a good fight," said Craig Lang, his friend, fellow agribusinessman and former regents president. William Rastetter owns over 12,375 units of Neurocrine Biosciences stock worth over $4,596,714 and over the last 20 years he sold NBIX stock worth over $1,559,850. And then well negotiate.. [3], Rastetter, in 2011, founded the Midwestern Summit Ag Fund, which is a farm acquisition and leasing fund. How to vote | "If our parents taught us anything growing up on a small farm, we should get better in life, and we should improve in what we do. "I've never been jealous of other people's success. 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. his Basic income source is mostly from The Register will also cover counter events held by a coalition including Iowa Citizens for Community Improvement. "I kept thinking, there's got to be somebody else," Branstad said. But this cycle, hes taking a different approach. By 1994, he found himself in New York City, a farm boy walking into Rockefeller Center to talk to investors. But, even more, they see Rastetter as a symbol of the intensive, increasingly consolidated agriculture industry that rules and too often pollutes Iowa an issue thats come to a head recently as Des Moines water utility pledged to sue three ag-heavy counties over allegations farm runoff has overloaded the citys water supply with dangerous nitrates. 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. He was raised near Alden, Iowa, on a 320-acre farm that grew corn and soy and raised hogs and cattle. Check Background Get Contact Info This Is Me - Edit Theres always wrinkles in his science and negotiations that catch you off guard, says Monsantos Fraley. 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. Required fields are marked *. Terry Branstad's election in 2010 and. Im a data and information and facts person; Im not a people person. Knowledge of those diagnoses was all but nonexistent at the time. In the early days of the farm, his parents, Harley and LaVon, lived modestly, with few luxuries. He also has given money to the University of Iowa and University of Northern Iowa, and has an exhibit building named after him after a $1 million contribution to the Iowa State Fair. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Sure, there were odors associated with it. With a combined market value of $320 billion, five publicly traded conglomerates own most of the action: Monsanto, DuPont, Syngenta, Dow and Bayer. Justin Kirchhoff President, Summit Ag Investors. Rastetter is an active philanthropist and has served as an advisor and member of several boards, including the American Agriculture and Energy Council, AltEnergy, Cultivation Corridor, Iowa Premium Beef, FS Bioenergia, Iowa Renewable Fuels Association, Iowa State Universitys College of Agriculture and Rural American Fund. I thought Bruce was perfectly situated to make it happen., But Ryan also disputes the notion that Rastetter is a kingmaker in the state. But times called for change. If it works out, it wont be the first time this farm kid, unknown outside his industry, has changed the world. It's a competitive world, but you've got to take time for people around you because life can change in an instant.". Its going to make them more substantive in their approach, said Rastetter. Your email address will not be published. Theres people who want to move us back to the 1930s and 1940s. Whitney and other investors, Heartland Pork Enterprises Inc. became the fastest-growing hog operation in Iowa and the United States and the 12th-largest pork producer. He couldn't stop hog and ethanol prices from plummeting, he said, but he could make sure his employees were paid through it all. @MarcoBattaglia Pipe scams end when everyone tells Bruce Rastetter that atmospheric C02 is more abundant than water https://t.co/US30lSmktc. 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. "Bruce does a good job of staying in touch, at least once a week. Bruce Rastetter, an Iowa agricultural heavyweight and the force behind a proposed $4.5 billion carbon capture pipeline, says the massive project could spark a renaissance for the renewable fuel . "A guy looks back on things and wishes he would have done this or that thing, or taken more time and not worked so hard," Rastetter said. 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. Harrys breeding for it, says Van Wiebe, an agronomist with Hefty Seed in Buhl, Idaho, who has seen a 30% difference between Stines seed and those of his rivals in his experimental fields. Family & Early Life In the United States, Bruce Rastetter was born and raised. Kevin Bogenreif Managing Director. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. They dont like modern agriculture.. Bruce who brought in $3 million and $5 million Networth Bruce collected most of his earnings from his Yeezy sneakers While he had exaggerated over the years about the size of his business, the money he pulled in from his profession real-enough to rank as one of the biggest celebrity cashouts of all time. A second plant was built in Fairbank, and Rastetter was soon heading Hawkeye Energy, a firm that became Iowa's largest ethanol producer. Terry Branstad was a decade removed from a record 16 years as governor. Ask rural environmental activists what they think of Rastetter and you will get an earful. Even if the process has grown more involved and advanced, the strategy behind breeding has changed little in ten millennia. Hes also developed his share of business and political enemies in recent years, ranging from environmentalists who dont like his hog operations to university advocates who dont like the way his money has bought influence at the states public universities, where he leads the board of regents. 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. Hes waving several reams of paper, filled with three years of yield results that drive Stines corn euphoria. Summit Agricultural Group | All Rights Reserved. In a gathering of movers and shakers at Rastetter's home, he asked Branstad to run again. Back then, he says, he just thought he was retarded.. [2][3] In 2000, Rastetter created a wind farm in north central Iowa, which he sold in 2007 to Alliant Energy. What is this - to train Fabulous Bruce Rastetters corn whiskey lobbyists? Rastetter said it was unfortunate that the deal unraveled. JET SKIING ON RIVER, LIFE TAKES TRAGIC TURN. "It's part of the reason I got into politics," Rastetter said. The agribusiness entrepreneur and president of the Iowa Board of Regents, who has given more than $1.1 million in state political contributions since 2003, is not the sort to chuckle. Brent's net worth hovers over $250,000 - $499,999 with a yearly income that's about $200 - 249,999. He used the new riches to give $2.5 million to Iowa State for an office suite and an endowed faculty position, the Bruce Rastetter Chair in Agricultural Entrepreneurship. What I would say is that over the past several years and cycles hes certainly become more active. 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. 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. Its hard to imagine anyone more Iowa than Rastetter. Along the way, hes tried his hand at investing, including helping build and sell a craft beer-company. He has the right combination of everything, says son Myron, who has worked alongside his father at the company for 20 years. "It came and went so fast. But while genetic modificationusing biotechnology to insert a genetic trait into a seedgrabs headlines (and stokes health fears, despite overwhelming scientific evidence of safety), traditional breeding programs by seed developers have done just as much to raise yields. 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,. Many people ask about the amount of money The Kentucky Headhunters makes from Instagram. "What we were doing was more environmentally sound than what we were doing on the small farm I grew up on. "I think he has been an effective leader. Buying more seeds per acre is expensive. Currently, he holds the position of Chief Executive Officer of Summit Group, Chief Executive Officer & Director at SCS Capital LLC (a subsidiary of Summit Group), Chief Executive Officer at Summit Agricultural Group and Senior Advisor at Tiger Infrastructure Partners LP. This story appears in the April 13, 2014 issue of Forbes. Chris Christie as a potential presidential candidate. Abby Blome 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. Many people ask this question about the money Bruce Rastetter makes from Facebook. Early life and education [ edit] Rastetter was born near Iowa Falls, Iowa. When you put him in the room with a bunch of people, hes going to outpace everybody intellectually.. At almost every location they plant them, he says, his seeds outperform any other variety. Overnight on Wall Street is morning in Europe. Many people ask this question about the money Bruce Rastetter makes from Twitter. Its going to be the way of the future., Not everyone buys what Stine is selling. He started by selling seed, making cold calls, holding lunch and dinner meetings and riding on the tractor with older farmers who advised him to diversify investments. Weve worked a lot in that space but also in the design of the plants and equipment, says Robert Fraley, Monsantos chief technology officer, who has been doing business with Stine since the early 1980s. And I wanted to do something that would make a difference. Election disclosures show Rastetter gave $25,000 to an AFF-affiliated super PAC in the 2014 cycle, but had not given to the PAC since donating $5,000 in 2009 a drop in the bucket for groups that have spent tens of millions in recent years. Markets never sleep, and neither does Bloomberg News. Disclamer: Bruce Rastetter net worth displayed here are calculated based on a combination social factors. This story appears in the April 13, 2014 issue of Forbes. Last summer, Chris Soules, the current star of The Bachelor who happens to work for Rastetters Summit Group as a real estate broker was reportedly in attendance, rubbing elbows with Marco Rubio and Ted Cruz. His rise to the status of one of the worlds wealthiest people is a direct result of this success. So why should he have any greater voice in choosing our elected officials than the regular Joe? ", 'A TIGER' PUSHING CHANGE ON BOARD OF REGENTS. 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Jean Carroll Case, ADBs New Climate Program to Offer Up to $15 Billion in Loans, Tycoon Adani Focuses on Energy as Green Unit Profit Soars, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, How a Blackpool Gang That Couldnt Shoot Straight Pulled Off a $24.5 Million Crypto Heist, Coinbase Sued for Privacy Violations Over Customer Biometrics, Coinbase Insiders Sued for Dumping Stock, Saving $1 Billion. We and our partners share information on your use of this website to help improve your experience. I've never believed in looking back other than there should be new experiences and new things you do in life.". Who knows if it will last one more time? he chuckles. 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. He floated the concept to Rastetter last fall when the two were at a Hawkeye football game: We were tailgating and talking politics, he recalls, pointing out that Iowa hosts lots of forums for presidential candidates, but theres never been one focused on agriculture despite the sector representing a third of the states economy. In his younger days, he had a fleet of jet skis that he and his brother Brent took out on the Iowa River with friends. 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. Copyright 2023 Surperformance. "This isn't K-12 where everything is alike. Critics slammed Branstad for appointing Rastetter after he gave more than $160,000 to the governors 2010 campaign. We dominate genetics in the industry.. They think, How can this be? He attended the University of Iowa, studying political science. Iowa Citizens for Community Improvement filed an ethics complaint alleging a conflict of interests, citing his line of work and the fact that both Rastetters were major Branstad donors. His term expired in 2017. Twice. I dont understand how peoples brains work and why they do what they do, says Stine. But at the very bottom of it all, he has made a huge difference in the industry and hes done it in his very unique and special way., As we stand high atop his tower, the wind streaking into us, unique and special seems a vast understatement. 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. Kevin Kimle, who holds ISU's Bruce Rastetter Chair of Agricultural Entrepreneurship, said it would be problem to do outreach to Tanzanians because they would all be shipped away. He viewed it as a "legacy project," aimed simply at helping the poor people of Africa. A lot of business success revolves around timing.". Are public universities being used by corporate interests or are they for the benefit of the people?". J.D. 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. 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. "We had just come down river, goofing around, running up a ways and down a ways," Brent Rastetter said. [2][3], Rastetter first became involved with the Iowa Board of Regents in 2011, becoming its president in 2013. Bruce L. Rastetter is a businessperson who founded Hawkeye Renewables LLC and Summit Agricultural Group and who has been at the head of 8 different companies. $35 per post at $7/CPM. He isnt bashful about what his small-town company has accomplished. Embracing change is vital in agriculture to feed a growing population, he said. [7] Mike Huckabee, Chris Christie, Donald Trump, Ted Cruz, Rick Santorum, Scott Walker, and Jeb Bush attended the event, located within the Iowa State Fairgrounds. FORBES estimates that Stines companywhich, among other things, also breeds corn genetics, creates plant traits in its biotech lab and has a small but growing commercial seed sales operationis worth nearly $3 billion. Please only use it for a guidance and Bruce Rastetter's actual income may vary a lot from the dollar amount shown above. Hog confinements and their smelly manure spread around Iowa while Rastetter built wealth, said Hugh Espey, executive director of Iowa Citizens for Community Improvement, which owes much of its growth as a nonprofit activist group to burgeoning opposition to hog confinements. It also requires more fertilizer and new planting and harvesting machinery specially fitted for the narrower rows. Bruce Rastetter, an agribusiness mogul whos made a fortune in pork, ethanol and farm real estate, has long worked behind the scenes to help bankroll conservatives across the country, but Saturday is a public coming out party of sorts for Rastetter as he hosts the first-ever Iowa Agriculture Summit. Rastetter describes what happened next as the best day of his life. The family was poor and the work both long and hardrising at 6 a.m. and finishing at 6 p.m. was the norm, except in summer, when the hours were even longer. For now, Rastetter is not endorsing a candidate he says he wants to be a neutral host at his summit. "That was a life-changing event because we had liquidity," he said of the sale. The Evolution of Corn (Click to see full graphic). Like one of those for your desk? I see a ton of activists who don't give significant dollars that still have a great impact," he said. 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. Rastetter said Summit Farms followed the same application process for the loans as everyone else. The agribusiness entrepreneur and president of the Iowa Board of Regents, who has given more than $1.1. "He wants us to do something rather than be something.". "Oftentimes in this country, if you have success, (people insinuate that) you must not have gotten that in the appropriate way," he said. Back in 2011, he tried to get Chris Christie in the race, at one point flying a handful of Iowa heavy hitters out to New Jersey to appeal to the governor in person. Bruce Rastetter said he didn't see Ryan, and "we ran into each other." "[5] Jill Ryan was Rick Santorums former deputy campaign manager. Tall has always been sexy for corn, even though less than half of the plant is actually harvested. "If people don't try to start new businesses and do new things and there is risk, we are never going to progress as a society and an economic system that is better for everyone.
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