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. "Because he tried and failed," Rastetter said. Theres always wrinkles in his science and negotiations that catch you off guard, says Monsantos Fraley. "Those things really make you think why that is and how that certainly could have been the other way instead of how it turned out," he said. $25 per post at a $5/CPM. Click here to contact our editorial staff, and click here to report an error. Rastetter told POLITICO that he donated to AFF in 2008 to run positive ads in support of then Sen. And, of ultimate importance, substantially increasing a farmers harvest. A tall man partial to Levis and blue button-downs with pens in the pocket, Stine stands on the burnt-orange carpet in his officea little-changed artifact of the Reagan era littered with the nuts, berries and, especially, mushrooms he likes to forage for (he has a handwritten log detailing when and where hes found each of the 32,000 morel mushrooms hes nabbed in recent years). 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. 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. Schlieman Operating Partner. 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. He said he ended up with 20,000 hogs within four miles of his house and its made him sick literally. 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. Our Team "But the more I thought about it Bruce was one of those people who encouraged and supported me." Not to say I agree with him," said regent Robert Downer. 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 "It's part of the reason I got into politics," Rastetter said. By the time it got its 1994 patent Stine had become the largest private seed company in the country, the bulk of its revenues still coming from royalties from licensing its award-winning soybean genetics. [2][3] In 2000, Rastetter created a wind farm in north central Iowa, which he sold in 2007 to Alliant Energy. Hawkeye went on to build two more plants in Menlo and Shell Rock, and Rastetter maintained his management team. He said Rastetter held meetings that promised an increased tax base, productions with little smell and a rising price for local farmers' corn. There has never been a Bruce Rastetter bill in the Iowa Legislature that has benefited me. Now 35,000 plants and 150 bushels per acre is commonnearly five times the yieldthanks to modern tractors, fertilizers, pesticides and seeds genetically modified to resist insects and herbicides. They think, How can this be? 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. Since 2010, Rastetter has donated over $1 million to candidates and. Stine Seed does business with all of the heavyweights and has for more than three decades, primarily because it has something everybody else needs: the best-performing soybean seeds in the business. Hes been diagnosed with environmentally-induced asthma and since moved to Colorado, he said. "Dollars you contributed help those people get elected, which is what our system is. 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. Check Background Get Contact Info This Is Me - Edit "He is a mentor in terms of business, but also how you play to win. With the world adding 800 million to 900 million bushels of corn demand each year, Fraley says corn seed still needs more innovation, and he buys into Stines vision: We absolutely think its possible to double yields.. He's been reserved and quiet forever. [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. By 1994, he found himself in New York City, a farm boy walking into Rockefeller Center to talk to investors. Rastetter said that quietly building relationships and nurturing those friendships led to his business breakthrough. I could smell the stench from them all the time, no matter which way the wind blew.. 3. "Bruce was always the one working," said Annette Sweeney, a childhood friend who would come over often to play with Bruce's younger sister. 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. And then well negotiate.. Your email address will not be published. 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. [2], Rastetter is a prolific political donor. "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. It seems like a huge opportunity, he said. 7. [1] Career [ edit] News coverage has rarely featured his private life. Agriculture and energy reporter Donnelle Eller (@DonnelleE) also will provide coverage. "The market was right, and he took advantage of it," said Walt Wendland, who founded Golden Grain Energy in Mason City. Ill sit here, he says, perched on the top bar of the guardrail, unfazed by the steep plummet behind him or the violent gusts. He donated more than $160,000 to Gov. 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. "I think he has been an effective leader. Bruce is the kind of person who never forgets a friend.. <br/>Ten items Rastetter doesn't want you to know about his Tanzania I thought Bruce was perfectly situated to make it happen., But Ryan also disputes the notion that Rastetter is a kingmaker in the state. State legislature | That lead was solidified in 2013, when the protections of patented seeds like Roundup Ready withstood a challenge in the U.S. Supreme Court. Bruce Rastetter talks about why he is hosting the Agriculture Summit among presidential hopefuls. ", "It was about Bruce supporting a friend he saw work hard," Sweeney said. his Basic income source is mostly from 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. 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. 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. Knowledge of those diagnoses was all but nonexistent at the time. [1], Bruce Rastetter began his career in 1990 with Summit Farms, then, four years later, he established Heartland Pork, a pork farm, which, by 2004 was a $1.2 million pig operation. A leaner, more efficient plant. Hell get to ask Jeb Bush what exactly he thinks about ethanol, pepper Scott Walker with questions about EPA regulations and quiz Marco Rubio about where he stands on GMO labeling, if he wants. YOU HAVE 20,000 FOLLOWERS: $100 per post at a $5/CPM. Stine noticed that corn plants hadnt changed much in generations. "We had just come down river, goofing around, running up a ways and down a ways," Brent Rastetter said. For now, Rastetter is not endorsing a candidate he says he wants to be a neutral host at his summit. Hes currently the CEO of Summit Group, a diverse company that operates in corn, soy, cattle, international farm real estate and private equity. ", 'A TIGER' PUSHING CHANGE ON BOARD OF REGENTS. Seeds were planted in rows 42 inches apart so horses could traverse the fields. Hog, ethanol baron Bruce Rastetter now a Republican kingmaker Long before that, Rastetter had already had a very good day. His friend was killed. You ought to feel good about that success. 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. He both shuns the spotlight and seeks it. 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. These results are automatically generated from Google. Save my name, email, and website in this browser for the next time I comment. [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. 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 couldn't stop hog and ethanol prices from plummeting, he said, but he could make sure his employees were paid through it all. The real Iowa kingmaker - POLITICO He got help from Branstad, whom he recruited to run for governor in 2010 and was his top donor. Along with his four children, Stine owns almost 100%. 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. So I asked to be appointed to the regents.". Thats good news since the worlds population continues to grow by about 85 million every year, while arable land remains scarce. He declined to discuss undisclosed giving to other political causes. @MarcoBattaglia Everyone needs to start refusing to use ethanol blends. A second plant was built in Fairbank, and Rastetter was soon heading Hawkeye Energy, a firm that became Iowa's largest ethanol producer. 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. A DuPont Pioneer study from 2012 concluded that for most of the Corn Belt narrow rows do little to increase yields. "I've never been jealous of other people's success. 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. Then know this: Rastetter gave $5 million in 2008 toward upgraded Hawkeye football training facilities. A lot of business success revolves around timing.". Bruce Rastetter: The quiet, fierce man behind ag summit Opinion: Bruce Rastetter is no climate hero We have to make sure that not only is the education affordable, but it brings the value for what the students and parents are paying.". | Brent Van Rastetter, 56 - Ames, IA - Has Court or Arrest Records Early life and education [ edit] Rastetter was born near Iowa Falls, Iowa. Subscribe. Bruce Rastetter net worth and salary income estimation Bruce Rastetter said he didn't see Ryan, and "we ran into each other." Stine will only say he receives a cut from his companys contributions to Roundup Ready soybeans, and its relationship with Monsanto extends well into the future. He slowly upped his contributions to Republican causes beyond the state in 2008, giving tens of thousands to Karl Roves American Crossroads and the National Republican Senatorial Committee over the past few cycles. Chris Christie, Ted Cruz, Rick Santorum, Donald Trump and Mike Huckabee will enter the agriculture policy ring, too. Rastetter has long been known in political circles for his annual summer party, an A-list Republican event complete with pork on a stick that sometimes attracts national conservative figures like Sarah Palin and Bobby Jindal. Bruce Rastetter - SourceWatch Rastetter co-founded Hawkeye Energy Holdings, the largest ethanol producer in the country. After seven years of genetic tinkering hes won plenty of converts. "I kept thinking, there's got to be somebody else," Branstad said. 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. 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. ", Later in life, Rastetter supported Sweeney's run for office in the Iowa Legislature against fellow Republican Pat Grassley, grandson of U.S. Sen. Chuck Grassley, who consistently tops polls as Iowa's most popular politician. If it works out, it wont be the first time this farm kid, unknown outside his industry, has changed the world. Its very simple. As of May 2023, Bruce Springsteen's net worth is roughly $500 Million, making him the 4th richest rock star in the world. | Please only use it for a guidance and Bruce Rastetter's actual income may vary a lot from the dollar amount shown above. Ballotpedia features 408,503 encyclopedic articles written and curated by our professional staff of editors, writers, and researchers. Were going to be able to double corn yields very easily, says Stine. Kirk Beaubien Managing Director, U.S. Real Estate. This story appears in the April 13, 2014 issue of Forbes. Hes not afraid to speak his mind. I think its already working.. In early 2015, Rastetter brought a number of 2016 Republican presidential candidates to his Iowa Agriculture Summit for face-to-face public interviews. 1 MarketScreener is worth more than 1000 Influencers! 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. "But I think the experiences I've had in life and people I've met, we've tried to have some fun. Buying more seeds per acre is expensive. He stated, "Mergers like this have the potential to put into motion irreversible damage to agriculture."[9][10]. It also might work to throw in the magic Iowa words work ethic that are so ingrained in Rastetter's DNA. 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. His disabilities were actually advantages that let him see things in ways others did not.
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