Asked about the potential perception that he failed at two industries and still came out ahead, he scoffs. According to Forbes and industry experts' latest study, Bruce Rastetter estimated net worth is more than a couple of million USD. It has nothing to do with whether he supported me," Branstad said. 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. Cities | In early 2015, Rastetter brought a number of 2016 Republican presidential candidates to his Iowa Agriculture Summit for face-to-face public interviews. Get notification with the latest net worth updates for free. Please only use it for a guidance and Bruce Rastetter's actual income may vary a lot from the dollar amount shown above. 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. Aside from a small, glass-walled house, its his only visible indulgence. Copyright 2023 Surperformance. Twice. Save my name, email, and website in this browser for the next time I comment. Its very simple. I dont understand how peoples brains work and why they do what they do, says Stine. 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. 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. 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. Check Background Get Contact Info This Is Me - Edit Long before that, Rastetter had already had a very good day. "One of the things that has always been a challenge for Iowa is being accepting of change. Rastetter co-founded Hawkeye Energy Holdings, the largest ethanol producer in the country. July 19, 2012 04:53 PM. Branstad worked the phones with several of the GOP presidential candidates. And I wanted to do something that would make a difference. [8], In January 2017, shortly before the White House transition, Rastetter voiced his opposition to pending mega-mergers in the agriculture industry, such as those concerning Bayer, Monsanto, Dow Chemical, ChemChina, and Syngenta. 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 . Seeds were planted in rows 42 inches apart so horses could traverse the fields. Its an unusually public gig for a donor: Rastetter will chat with each candidate on-stage for 20 minutes before 1,000 Iowans and dozens of media outlets. I thought Bruce was perfectly situated to make it happen., But Ryan also disputes the notion that Rastetter is a kingmaker in the state. "I suggested," Rastetter told this reporter later that day, "that the governor speak with you.". According to Politico, between 2003 and 2015, Rastetter spent $500K on federal campaigns and $1.1 million on state-level politics. If you think Bruce Rastetter's age is not correct, please leave a comment about Bruce Rastetter's real age and Bruce Rastetter's actual birthday below. "Those things change you. Rastetter "destroyed the confidence in the corporate pork industry among Davis County residents," said Francis Thicke, a former candidate for Iowa Secretary of Agriculture and a longtime advocate for sustainable farming practices. His sister and I would give him the business, and he would nod and keep going. Hes already revolutionized agriculture. Moreover, he could start his own breeding program using the seeds. [3], In 2003, Rastetter created Hawkeye Renewables and served as the CEO until 2011. How to vote | He also possessed a canny, fluid mental aptitude for data and math. From media and technology to finance and real estate, leagues and. But after being asked why he never married, he counts it as one regret. Bruce L. Rastetter previously occupied the position of Chief Executive Officer of Hawkeye Energy Holdings LLC and President & Chief Executive Officer at Hawkeye Renewables LLC (a subsidiary of Hawkeye Energy Holdings LLC), Chief Executive Officer for Summit Agricultural Group, President & Dean at State of Iowa, Strategic Limited Partner at Rural [3], Rastetter, in 2011, founded the Midwestern Summit Ag Fund, which is a farm acquisition and leasing fund. With Hawkeye, that was 2006. They dont like modern agriculture.. "He wants us to do something rather than be something.". State and local courts | In 2004, Rastetter sold the company to Christensen Farms, making it the fourth largest pork player in the country. "I've never been jealous of other people's success. Today 60% of all U.S. soybean acreage is planted using genetics developed by Stines companies, which also have a strong presence in South America and other international markets. It shows a superior foresight.. He is quiet but fierce. Hog production is a cyclical industry, and, ultimately, prices tanked. "People who aren't successful don't," Rastetter said. Once home to his fathers hardscrabble cattle-and-crop farm, Stine has, without attracting any widespread notice, developed some of the most valuable agricultural products on Earth here. 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. "Oftentimes in this country, if you have success, (people insinuate that) you must not have gotten that in the appropriate way," he said. $50 per post at $10/CPM. Rastetter's work on the board cemented his opinion that it was unacceptable to have tuition continue to grow, doubling from 2001 to 2009 at the state's three public universities, which the regents oversee. These results are automatically generated from Google. They sold off the jet skis and never went riding again. Like one of those for your desk? He maxed out to several top conservative candidates in 2014, including North Carolinas Thom Tillis, Alaskas Dan Sullivan and Iowas Joni Ernst, and gave $50,000 to Karl Roves American Crossroads. In 2011, Rastetter came under scrutiny after Branstad appointed his brother Brent Rastetter whose company Quality Ag builds large scale hog facilities to the Iowa Environmental Protection Commission. Monsanto is doing similar work, and hell have to battle with it for market share should crop growers flock en masse to high-density planting. 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. "That was a life-changing event because we had liquidity," he said of the sale. He has taken up hunting. Hes kidding, of course. 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. YOU HAVE 20,000 FOLLOWERS: $100 per post at a $5/CPM. $200 per post at $10/CPM. Rastetter's staff soon called to confirm the appointment with the governor. He is incredibly focused and driven," said Nick Ryan, founder of American Future Fund, a nonprofit that Rastetter provided seed money to start and that has become a major financial contributor to conservative candidacies. Ballotpedia does not curate or endorse these articles. His friend was killed. He declined to discuss undisclosed giving to other political causes. Ballotpedia features 408,503 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Jimmy Buffett. U.S. Congress | It seems like a huge opportunity, he said. Chuck Grassley told the Register then: "I don't think Pat or I have had any problems that I know of with Rastetter, but I suppose if he's an up-and-coming political leader and (if) he could knock off a Grassley, it would probably be a feather in his hat. And furthermore, how can this little farm kid out here be doing this?. Overnight on Wall Street is morning in Europe. In 2013, Rastetter was elected president of the Board of Regents. "The alternative is you don't do anything. 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. Its not my opinion that matters, its the candidates, he said in a phone interview. And now, Rastetter is getting up close and personal with the presidential hopefuls in full view of the media and other deep-pocketed donors. "In the farm crisis days in Iowa, it was almost life-threatening for some people because they took it so hard that they didn't have success.". 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. 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. Hes currently the CEO of Summit Group, a diverse company that operates in corn, soy, cattle, international farm real estate and private equity. For now, Rastetter is not endorsing a candidate he says he wants to be a neutral host at his summit. Bruce Rastetter talks about why he is hosting the Agriculture Summit among presidential hopefuls. 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. This day, he talks sparingly about his modest upbringing. Hawkeye went on to build two more plants in Menlo and Shell Rock, and Rastetter maintained his management team. Anchored by Anna Edwards and Mark Cudmore, Bloomberg Markets Europe is a fast-paced hour of news and analysis, building towards the drama and excitement of the start of the cash trade across the continent. Are public universities being used by corporate interests or are they for the benefit of the people?". In a gathering of movers and shakers at Rastetter's home, he asked Branstad to run again. Though the company also began breeding corn seed genetics, soybeans remained its most profitable niche. Your email address will not be published. In early 2015, Rastetter brought a number of 2016 Republican presidential candidates to his Iowa Agriculture Summit for face-to-face public interviews. The fund began with the acquisition of 56 farms across four states and generated income from lease income and capital appreciation. It was around this time that Stine recognized the necessity of protecting his valuable genetics. If you really want to be fair here, you need to go get two more [lawyers], he smirked. "Bruce is a brilliant guy. With more than 900 patents, Stine sells his coveted soybean and corn seed genetics to agri-giants like Monsanto and Syngenta, nabbing estimated annual sales of more than$1 billion with margins in excess of 10%. 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. 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. Its an insight that will revolutionize the corn industry, says Dermot Hayes, a professor of agribusiness at Iowa State University. The contracts Stine drew up prohibited this. Im a data and information and facts person; Im not a people person. 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. [5], Rastetter is a well-known Republican donor, donating more than $1.5 million to state and federal political campaigns since 2003. Rastetter knew all along that their plans would displace 160,000 people, despite repeated insistence that the refugee camps in the affected area were abandoned. "It's part of the reason I got into politics," Rastetter said. Meet Bruce Rastetter, the man behind the Iowa Agriculture Summit, which is drawing 11 presidential hopefuls to Iowa March 7. It's actually a myth about how to make money on Facebook 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. And hes got plans to stay there. It's what our country and our economic system allows," he said. It's one Iowa coach Kirk Ferentz gave him in 2013. In addition, he makes $671,980 as Independent Chairman of the Board at Neurocrine . He said Rastetter held meetings that promised an increased tax base, productions with little smell and a rising price for local farmers' corn. Additionally, it was a labor-intensive, painstaking endeavor, unsuitable to most businessmen or dawn-to-dusk farmers but perfect for Stine, innately curious and capable of intense focus, despite a childhood filled with academic struggles. He recalls Bruce came to town and made a lot of promises to the community about good jobs and economic growth. The party has become a well-heeled annual event. They will tweet news about speeches, the atmosphere and everything in between, with the hashtag #AgSummit. Your California Privacy Rights/Privacy Policy. ". 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. Previously only asexual plants like rosebushes or apple trees could be patented, not self-pollinating crops like corn and soybeans. He grew up on a small farm near Buckeye, with three brothers and a sister. $140 per post at $7/CPM. He started by building agribusiness empires in some of Iowas key sectors including pork and ethanol then built close relationships with Iowas political elite, like Gov. After seven years of genetic tinkering hes won plenty of converts. Bruce Rastetter Chief Executive Officer. 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. And I think we need principled leaders, which is one of the reasons I encouraged Branstad to run again. Generali's No.3 investor Caltagirone withholds backing for 2022 accounts -sources, Musk says Tesla likely to launch full self-drive technology 'this year', Exclusive: JPMorgan employees gripe about Dimon's return-to-office edict, SpaceX rocket explosion illustrates Elon Musk's 'successful failure' formula, Cucinelli posts 33% rise in Q1 sales, confirms 2023 revenue growth forecast, Exclusive-Peter Thiel, Republican megadonor, won't fund candidates in 2024 - sources, Virginia Governor Youngkin 'humbled' by talk of possible presidential run, European Midday Briefing: Mood Brighter After -2-, Tim Cook unveils new Apple store in India, Morgan Stanley's dealmaking CEO Gorman signals more transactions to come. Rastetter told POLITICO that he donated to AFF in 2008 to run positive ads in support of then Sen. "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. "I was going the other direction, and Bruce looked over at me. 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. Markets never sleep, and neither does Bloomberg News. 5. Downer says the performance-based funding model doesn't take into account that some programs cost more. Brent maintains relationships with many people -- family, friends, associates, & neighbors -- including Karli Rastetter, Zachariah Rastetter, Bruce Rastetter, Julie Rastetter and Clifford Gryte. Monitor your investments 24 hours a day, around the clock from around the globe. 6. A graduate of the University of Iowa, Rastetter holds a bachelor's degree in political science. Now heres whats going to happen. "What we were doing was more environmentally sound than what we were doing on the small farm I grew up on.
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