Just days ago, it was discovered that a billionaire member of the Chinese Communist Party (CCP) bought 200,000 acres of American land in 2015. This purchase was kept secret from both US politicians and citizens until now, leading to great outrage when The Daily Caller first reported it. According to the Caller, Oregon decided to publicly name the owner of the property just last week.
Chen Tianqiao, co-founder of multinational investment firm Shanda Interactive Entertainment, purchased the Oregon farmland in 2015 at $430 an acre for a total of $85 million, according to Land Report.
This makes him the 82nd-largest property owner in America and the second-largest foreign property owner behind the California-based Irving family.
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The land was sold to him by Fidelity National Financial Ventures, an insurance and real estate company headquartered in Jacksonville, Florida. Chen conducted the purchase through investment vehicle Whitefish Cascade Forest Resources LLC. As of December 2023, Oregon tax records reviewed by Land Report exposed that the land was under the ownership of Shanda Asset Management LLC.
According to The Daily Mail, Chen’s properties are not in government records of foreign owners of land.
Billionaire Chinese Communist Party member’s purchase of nearly 200K acres of land in US sparks bipartisan outrage https://t.co/kk0KiSTSWD pic.twitter.com/bHchWqdoHI
— New York Post (@nypost) January 13, 2024
Rep. Elise Stefanik (R-NY) told The New York Post that the Biden administration has been particularly ineffective in preventing “foreign adversaries” from buying up American land. “Communist China is purchasing US agricultural land to subvert our sovereignty, undermine our agriculture industry, encroach on our military installations, and upend America’s rural communities,” Stefanik said.
Chen also reportedly owns a $39 million townhouse in New York City and a $26 million estate in Los Angeles.
He has been a member of the CCP since he was 18 and has risen through various executive roles over time.
Shane Devine is a writer covering politics, economics, and culture for Valuetainment. Follow Shane on X (Twitter).
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