A graduate of the University of Iowa, Rastetter holds a bachelor's degree in political science. It seems like a huge opportunity, he said. Its hard to imagine anyone more Iowa than Rastetter. "It doesn't mean you ought not try. Tall has always been sexy for corn, even though less than half of the plant is actually harvested. But they always encouraged him to work hard toward a better life. Hes upped his disclosed political and philanthropic giving, including more than $2 million to Iowa State University to found an eponymous professorship and entrepreneurship center, $1 million to the state fairgrounds to land his name on the 4-H building and $5 million to the University of Iowas football facilities. He got help from Branstad, whom he recruited to run for governor in 2010 and was his top donor. "I think he has been an effective leader. Bruce Rastetter is the CEO and founder of the Summit Agricultural Group, an agribusiness based in Iowa. And when we were after change in policy, he was a tiger.". "I suggested," Rastetter told this reporter later that day, "that the governor speak with you.". Net Worth: $600 Million. Bruce Rastetter Chief Executive Officer. Bruce Rastetter heads the Agriculture Summit. Were going to be able to double corn yields very easily, says Stine. This day, he talks sparingly about his modest upbringing. Agriculture and energy reporter Donnelle Eller (@DonnelleE) also will provide coverage. Follow live coverage Saturday from the Iowa Ag Summit at DesMoinesRegister.com/AgSummitLive. Rastetter's staff soon called to confirm the appointment with the governor. Im a data and information and facts person; Im not a people person. Here's how past incumbents fared, First Republic Sale Fills Bankers With Relief and Worry, Morgan Stanley Plans 3,000 More Job Cuts as Dealmaking Slumps, Tony Nominations: It's Reckoning Time for ACrowded Broadway, Hollywood Writers Go On Strike, Seek Higher Pay in Streaming, The Sun the Banking World Revolves Around, The ECB Needs to Slow the Rate-Hike Express, More Companies Head to Space, But No One Can Agree on the Rules Up There, Why Chinese Banks Arent Worried About Depositors Fleeing, The Boring Old Box Truck Gets the Tesla Treatment, E. Jean Carroll Testifies TrumpCritic Conway Encouraged Her Lawsuit, Trump Is Denied Mistrial Over Unfair Rulings in E. 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. 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. "All those words fit him to a T. It seems like anything he touches turns to gold.". But he does open up about two events that changed his life the death of a dear friend in a tragic accident in which he was involved, and a business deal that helped him earn enough money to start giving it away. Ultimately, the university backed away from assisting with the plan, but only after an uproar. And I think we need principled leaders, which is one of the reasons I encouraged Branstad to run again. Norm Coleman but no longer gives to the group. The fund began with the acquisition of 56 farms across four states and generated income from lease income and capital appreciation. The Stine network of 1,700 dealers was selling Stine soybean products in 15 states under 160 brands. his Basic income source is mostly from You take good parents, and you make lots of offspring, says Stine, who learned the basics in under an hour from an Iowa State technician. 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. Ryan said the agriculture summit was his idea. 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. 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. 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. 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%. 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. In 1989, De Niro co-founded the hugely successful production company TriBeCa Productions, and the actor owns several top restaurants around the world. Normally the ad cost for an Instagram ad post is based on the number of followers on the account. Aside from whatever financial ties exist, Ryan and Rastetter are close allies. He said Rastetter held meetings that promised an increased tax base, productions with little smell and a rising price for local farmers' corn. "It was a life-changing event for me," he said. 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. "One of the things the chairman of Whitney investments told me, 'No one has done anything without someone helping them.' Bruce Rastetter said he didn't see Ryan, and "we ran into each other." 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. Long before that, Rastetter had already had a very good day. Rastetter also got plenty of help from Nick Ryan, a major Iowa operative, and his wife Jill Ryan, Santorums former deputy campaign manager. His experience in the hog industry taught him there was a time to go to market, he said. [3], Rastetter, in 2011, founded the Midwestern Summit Ag Fund, which is a farm acquisition and leasing fund. "One of the things that has always been a challenge for Iowa is being accepting of change. Language links are at the top of the page across from the title. Among them was Garry Klicker, whose land was adjacent to some of Heartland's confinements in Davis County. 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. The basic technology may be ancient, but an innovative, data-savvy strategy, married with shrewd leadership and a classic midwestern work ethic, has made Stines operation best in class. Wanna follow Bruce Rastetter's net worth? "But the more I thought about it Bruce was one of those people who encouraged and supported me." [2][3] In 2000, Rastetter created a wind farm in north central Iowa, which he sold in 2007 to Alliant Energy. These results are automatically generated from Google. CEO: Donald Trump Can Win Iowa If He Stays On Message | Squawk Box | CNBC, Bruce Rastetter at the 2014 Land Investment Expo, Adapting to Weather Extremes 12/11/2013 part 1, Rastetter on controversy over ISU President Leath's flights, Trade Roundtable (April 13, 2018) -- Extended Discussion, Full video: Rastetter meets with Register editorial board, Rastetter on what's expected of new UNI president, Entrepreneur Adds Ethanol to Ventures List, Royal National Lifeboat Institution net worth, Royal Society for the Protection of Birds net worth, New York City Department of Buildings net worth, National Grid Corporation of the Philippines net worth, CORRUPTION: What happened to Grant Solomon? JET SKIING ON RIVER, LIFE TAKES TRAGIC TURN. The estimated Net Worth of William H Rastetter is at least $6.55 Million dollars as of 1 April 2022. 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. "Oftentimes in this country, if you have success, (people insinuate that) you must not have gotten that in the appropriate way," he said. In 2004, Rastetter sold the company to Christensen Farms, making it the fourth largest pork player in the country. And also embracing success and encouraging people to try.". Its going to make them more substantive in their approach, said Rastetter. "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. 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. 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. By 1994, he found himself in New York City, a farm boy walking into Rockefeller Center to talk to investors. 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. Rastetter co-founded Hawkeye Energy Holdings, the largest ethanol producer in the country. Ballotpedia features 408,503 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Stines business model had been blessed by the highest court in the land. "I've never been jealous of other people's success. 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. 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. He isnt bashful about what his small-town company has accomplished. Your California Privacy Rights/Privacy Policy. When Branstad appointed Rastetter to the Iowa Board of Regents in 2011, Rastetter became an ally of Lang, then the board president. He also possessed a canny, fluid mental aptitude for data and math. Embracing change is vital in agriculture to feed a growing population, he said. He said he ended up with 20,000 hogs within four miles of his house and its made him sick literally. From media and technology to finance and real estate, leagues and. 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. When a battalion of Monsanto lawyers and dealmakers descended on Stine Seed to finalize the deal, they found Stine alone in the companys conference room at a Ping-Pong table (Stine still rarely loses). 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. 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. Hes waving several reams of paper, filled with three years of yield results that drive Stines corn euphoria. "People who aren't successful don't," Rastetter said. The farm crisis of the 1980s was tough. $140 per post at $7/CPM. He's flipping around a football. I don't give to get access. A DuPont Pioneer study from 2012 concluded that for most of the Corn Belt narrow rows do little to increase yields. The governor personally called Bush who has not been to Iowa since declaring his intention to mull a 2016 run and also Perry to convince them to attend. 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. There has never been a Bruce Rastetter bill in the Iowa Legislature that has benefited me. Many people ask this question about the money Bruce Rastetter makes from Twitter. I think its already working.. 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. I dont understand how peoples brains work and why they do what they do, says Stine. AT CENTER OF THE FIGHT OVER HOG CONFINEMENTS. On an August day in 1995, they were riding the jet skis down the river with longtime friend Tad Ryan. 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. 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. It was the summer of 2009. 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. 1 MarketScreener is worth more than 1000 Influencers! [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. Two of his company's facilities, Shell Rock and Menlo, were sold in 2010 to Koch Industries. A graduate of the University of Iowa, Rastetter holds a bachelors degree in political science. As of May 2023, Bruce Springsteen's net worth is roughly $500 Million, making him the 4th richest rock star in the world. He started feeding hogs on contract in 1984, and within two years, 500 head grew to 100,000. [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. 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. Sure, there were odors associated with it. If it works out, it wont be the first time this farm kid, unknown outside his industry, has changed the world. Then theres Stine. Efficiency. In 1994 the U.S. government granted its first patents on the full genetic makeup of a soybean. Rastetter's name is synonymous with fights as a leader in three tender subject areas in Iowa large-scale agriculture, ethanol production and education funding. Disclamer: Bruce Rastetter net worth displayed here are calculated based on a combination social factors. According to internet, Bruce Rastetter's height is 1.75m. He has also emerged as one of the leading Republican financial contributors in Iowa over the past decade and will stand in the national spotlight Saturday as organizer of the inaugural "Iowa Agricultural Summit" for presidential hopefuls. Hes not afraid to speak his mind. Rastetter describes what happened next as the best day of his life. 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. In the coming days, Rastetter will be narrowing down what questions hell ask the candidates on March 7. 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 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. Check Background Get Contact Info This Is Me - Edit 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. They will tweet news about speeches, the atmosphere and everything in between, with the hashtag #AgSummit. While he wants to broaden the discussion, theres no doubt the candidates will still be pressed on where they stand on the Renewable Fuel Standard. Aside from a small, glass-walled house, its his only visible indulgence. Asked about the potential perception that he failed at two industries and still came out ahead, he scoffs. So why should he have any greater voice in choosing our elected officials than the regular Joe? But times called for change. 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. He says he has no regrets. Ballot measures, Who represents me? Rastetter said Summit Farms followed the same application process for the loans as everyone else. They can take on many forms: politicians, lobbyists, advisors, donors, corporations, industry groups, labor unions, single-issue organizations, nonprofits, to name a few. Stine flipped the conventional wisdom on its head. His rise to the status of one of the worlds wealthiest people is a direct result of this success. Hawkeye went on to build two more plants in Menlo and Shell Rock, and Rastetter maintained his management team. 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. In 2015, Ballotpedia identified Bruce Rastetter as a top influencer by state. The acquisition comes after Telepharm in 2014 closed a $2.5 million venture capital fundraising campaign led by Iowa Board of Regents President and agribusiness pioneer Bruce Rastetter; Adam. He attended the University of Iowa, studying political science. 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. Many people ask about the amount of money The Kentucky Headhunters makes from Instagram. ", "He's tough but fair," Peterson said. Bruce's brother, Brent Rastetter, who owns a company that constructs hog confinement facilities, gave Branstad an additional $31,000 and was appointed earlier this year to the Iowa Environmental . It's one Iowa coach Kirk Ferentz gave him in 2013. On this weeks episode of Idea Generation, Paul Rodriguez Jr. describes his early days as a young skateboarder in California, how he became the face of Nike Skate and eventually launched his own brand, Primitive Skateboarding. U.S. President | Hes loathed by liberal community activists who believe hes leveraged his money into political power for personal gain. Roundup Ready technology combined with Stines industry-leading soybean genetics was a natural fit. Rastetter was unhurt. Small farmers and environmental groups led fights against hog confinements, saying they fouled the air and land and made parts of rural Iowa uninhabitable. The company supports capital investments with strategic private equity partnerships and manages agricultural assets, including extensive beef, pork and grain production facilities. Justin Kirchhoff President, Summit Ag Investors. His business ventures at times have become entangled with the universities, touching off controversies about potential conflicts of interest. He's been reserved and quiet forever. Ask rural environmental activists what they think of Rastetter and you will get an earful. With a combined market value of $320 billion, five publicly traded conglomerates own most of the action: Monsanto, DuPont, Syngenta, Dow and Bayer. According to wikipedia, Bruce Rastetter was born on August 15, 1990. You just have a regular job and don't try to make an improvement on how you leave things," he said. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. Early life and education [ edit] Rastetter was born near Iowa Falls, Iowa. In early 2015, Rastetter brought a number of 2016 Republican presidential candidates to his Iowa Agriculture Summit for face-to-face public interviews. "It's part of the reason I got into politics," Rastetter said. Some students said they felt the full weight of pressure for criticizing an influential donor. Hog production is a cyclical industry, and, ultimately, prices tanked. In 2011, Rastetter jetted off with six other influential Iowa donors and activists to court New Jersey Gov. And furthermore, how can this little farm kid out here be doing this?. Meet Bruce Rastetter, the man behind the Ia Ag Summit. By the mid-1970s, under a new company called Midwest Oilseeds, Stine was operating the most widely used soybean genetics company in the U.S., licensing the robust seeds it bred for royalties.

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