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. 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. Can This Man Feed the World? Billionaire Harry Stine's Quest to [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. [1] Career [ edit] Downer says the performance-based funding model doesn't take into account that some programs cost more. Twice. On an August day in 1995, they were riding the jet skis down the river with longtime friend Tad Ryan. So why should he have any greater voice in choosing our elected officials than the regular Joe? In 2011, Rastetter jetted off with six other influential Iowa donors and activists to court New Jersey Gov. Disclamer: Bruce Rastetter net worth displayed here are calculated based on a combination social factors. 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.. $200 per post at $10/CPM. After earning a political science degree at the University of Iowa, he quit Drake University Law School and returned home to his love of farming. 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. Please only use it for a guidance and Bruce Rastetter's actual income may vary a lot from the dollar amount shown above. 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 believe in the whole economic freedom perspective. His rise to the status of one of the worlds wealthiest people is a direct result of this success. Its very simple. Meet Bruce Rastetter, the man behind the Ia Ag Summit. Ryan said the agriculture summit was his idea. 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. He recalls Bruce came to town and made a lot of promises to the community about good jobs and economic growth. 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? Rastetter said that quietly building relationships and nurturing those friendships led to his business breakthrough. 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. "It came and went so fast. The agribusiness entrepreneur and president of the Iowa Board of Regents, who has given more than $1.1. ", Sweeney lined him up with friends for dates, she said, but "I can see him not taking the time to iron out a relationship.". @MarcoBattaglia Pipe scams end when everyone tells Bruce Rastetter that atmospheric C02 is more abundant than water https://t.co/US30lSmktc. In addition, he makes $671,980 as Independent Chairman of the Board at Neurocrine . That means most of the biomass is using valuable resources that dont necessarily improve a farmers yield. But he saw his hard-charging brother, then 39, change after the accident, ease up on the little things. Then know this: Rastetter gave $5 million in 2008 toward upgraded Hawkeye football training facilities. I understand how folks could look at him that way, he said. Meet Trump's Cabinet-in-waiting - POLITICO State executives | With Hawkeye, that was 2006. Having conquered pork, Rastetter then turned his sights to ethanol. As he faced that loss, Rastetter was often embroiled in local controversy. 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. The contracts Stine drew up prohibited this. He's clearing the air a bit on a cold February day in his CEO offices of Summit Group, his multinational agriculture, investment and energy corporation near Alden. For farmers the Roundup Ready soybean seed would be an industry-changing innovation that reduced time and labor battling weeds. 4,000), the dozen or so companies under Stines umbrella form an unlikely titan at the heart of the market, directly or indirectly generating revenues from almost 50 million acres of crops in the U.S. each year. A graduate of the University of Iowa, Rastetter holds a bachelors degree in political science. Terry Branstad. "But once you build trust with him, he allows you to share in decision-making. Many people ask about the amount of money Bruce Rastetter makes from Instagram. Get notification with the latest net worth updates for free. "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. 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. Aside from whatever financial ties exist, Ryan and Rastetter are close allies. Rastetter told POLITICO that he donated to AFF in 2008 to run positive ads in support of then Sen. 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. About the time Heartland was sold, investors at Whitney called to ask him if he wanted to work with ethanol. "He wants us to do something rather than be something.". Justin Kirchhoff President, Summit Ag Investors. He also possessed a canny, fluid mental aptitude for data and math. They can take on many forms: politicians, lobbyists, advisors, donors, corporations, industry groups, labor unions, single-issue organizations, nonprofits, to name a few. A prolific political donor, Rastetter has spent millions on federal, state, and local politics over the past two decades. Bruce Rastetter net worth and salary income estimation Hawkeye went on to build two more plants in Menlo and Shell Rock, and Rastetter maintained his management team. Brent's net worth hovers over $250,000 - $499,999 with a yearly income that's about $200 - 249,999. Nonetheless, we hop into the elevator cab, he flips the switch to get it moving, and up we go as the wind rips into us at 40mph. Gary Klicker, a native of Davis County, Iowa, blames Rastetter for turning his community into a pork confinement stronghold that now smells of manure after the expansion of Heartland Pork in the late 1990s. Norm Coleman but no longer gives to the group. Bruce Rastetter - SourceWatch How to run for office | The personal attacks he faced bothered him, but solidified his views on change. He attended the University of Iowa, studying political science. 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. "Bruce is the kind of individual that doesn't necessarily fill the room. His business ventures at times have become entangled with the universities, touching off controversies about potential conflicts of interest. He is always ready for a good fight," said Craig Lang, his friend, fellow agribusinessman and former regents president. Ballot measures, Who represents me? 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 Chris Christie, Ted Cruz, Rick Santorum, Donald Trump and Mike Huckabee will enter the agriculture policy ring, too. 6. These results are automatically generated from Google. Save my name, email, and website in this browser for the next time I comment. Buffett left a permanent mark with his music and he began his . 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. But Rastetters moves over the past decade look like a how to guide for becoming a political power player, with far more influence than other wannabe Iowa kingmakers. Future changes in production practices could favor narrow rows at some point, says Mark Jeschke, DuPont Pioneers agronomy research manager. 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. In addition to making more money each day, Bruce Rastetter is becoming more and more well-known by the day. "I'd raise half the equity capital, and they would build the plant in Iowa Falls," he said. If a farmer could buy your seed one year and then simply use the offspring or seeds from the plants it grew the next year, he could cut the seed developer out of the loop while retaining the powerful genetics. Bruce Rastetter Wiki, Biography, Age, Wife, Net Worth, Family Follow live coverage Saturday from the Iowa Ag Summit at DesMoinesRegister.com/AgSummitLive. Two large buck heads hang on his office walls, as well as a couple of stuffed ducks. 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. His own father, he said, was risk averse. The farm crisis of the 1980s was tough. [2] Hawkeye Renewables was followed by Hawkeye Gold Ethanol Marketing Group in 2008. "When you see him at fundraisers with top Republicans, it raises a whole lot of concerns. 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. 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. 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. Owner: rastetter, bruce l Tax Year: 2017 Tax Amount: $7956 Total Market Value: $542,990 +Edit Neighbors View All Past Address Crescent, IOWA FALLS, IA 50126 View Address Owner: rastetter, bruce l Tax Year: 2010 Tax Amount: $3156 +Edit Past Address 10640 Highway D20, Alden, IA 50006 View Address +Edit Past Address Its going to make them more substantive in their approach, said Rastetter. Bruce L Rastetter, Summit Group: Profile and Biography Rastetter co-founded Hawkeye Energy Holdings, the largest ethanol producer in the country. Rastetter said Summit Farms followed the same application process for the loans as everyone else. When Branstad appointed Rastetter to the Iowa Board of Regents in 2011, Rastetter became an ally of Lang, then the board president. It's part of modern agriculture.". I don't give to get access. Kevin Bogenreif Managing Director. The Evolution of Corn (Click to see full graphic). JET SKIING ON RIVER, LIFE TAKES TRAGIC TURN. $35 per post at $7/CPM. Heartland Pork is now the fourth largest pork producer in the country. It's one Iowa coach Kirk Ferentz gave him in 2013. It shows a superior foresight.. On it are printed the scores of wins against Nebraska and Michigan. Find previews and full coverage at DesMoinesRegister.com/AgSummitLive. Way to get here was not at all a simple task. He isnt bashful about what his small-town company has accomplished. "That was a life-changing event because we had liquidity," he said of the sale. The secret to Stines golden corn? Rastetter responds to 'no confidence' votes Its an event designed to promote farm policy in a state where pigs outnumber voters 10 to one, but its also a bold display of the political power Rastetter has amassed and a reminder to candidates that his endorsement would be a big get ahead of the Iowa caucuses. Bruce Rastetter - Ballotpedia 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. The states ethics board later unanimously dismissed the complaint, noting that the position Rastetter held on the commission is one reserved for farmers. Wanna follow Bruce Rastetter's net worth? He both shuns the spotlight and seeks it. What is this - to train Fabulous Bruce Rastetters corn whiskey lobbyists? 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. ", HE WAS 'ALWAYS THE ONE WORKING,' FRIEND SAYS. A second plant was built in Fairbank, and Rastetter was soon heading Hawkeye Energy, a firm that became Iowa's largest ethanol producer. You just have a regular job and don't try to make an improvement on how you leave things," he said. Bruce Rastetter Net Worth | Bio, Family, Address, Career "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. Hes kidding, of course. Ultimately, the university backed away from assisting with the plan, but only after an uproar. Critics slammed Branstad for appointing Rastetter after he gave more than $160,000 to the governors 2010 campaign. Our Team 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. Thats good news since the worlds population continues to grow by about 85 million every year, while arable land remains scarce. His friend was killed. 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 . Rastetter also has a connection to Nick Ryans 501(c)(4), American Future Fund, which pulled in more than $13 million from Koch-backed Freedom Partners in 2012. In 2013, Rastetter was elected president of the Board of Regents. Hog production is a cyclical industry, and, ultimately, prices tanked. Stine noticed that corn plants hadnt changed much in generations. The breeding process grew more advanced and automated, and by the early 1990s the company was testing 150,000 soybean varieties annually and producing the highest-yielding seed on the market. 3. Through plant breeding, a roughly 10,000-year-old technique thats not unlike creating Thoroughbred horses or show dogs, Stine has been perfecting the genetic makeup of soybean seedsprimarily used in animal feed and to produce vegetable oilssince the 1960s. Hes loathed by liberal community activists who believe hes leveraged his money into political power for personal gain. He is cautious. We dominate genetics in the industry.. Efficiency. He's bringing in young people like Summit President Eric Peterson, 29, who used the same phrase as a longtime employee in voicing appreciation that Rastetter "calls a spade a spade. Theres always going to be a certain amount of jealousy, said Branstad. Subscribe. Seeds were planted in rows 42 inches apart so horses could traverse the fields. YOU HAVE 5,000 FOLLOWERS. Just how much pull does Rastetter have? How to vote | Were going to be able to double corn yields very easily, says Stine. YOU HAVE 10,000 FOLLOWERS: U.S. President | 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. Stines savvy is homegrown. We just wrapped up a shorter-than-normal, urgent-as-ever fundraising drive and we came up about $45,000 short of our $300,000 goal. 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. He has faced other questions about the ties between businesses under the Summit Group's umbrella and university research on his farm, and about no-interest loans from ISU's Iowa Energy Center for wind turbines. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. But no research thus far has shown that ultrahigh populations combined with narrow rows significantly increased corn yield., It is an interesting story and a great conversation piece, adds Tony Vyn, professor of agronomy at Purdue University, but a sideline to the real drivers of corn yield and economic efficiency gains that are needed most for this decade., For farmers theres a sizable capital risk in switching. In a gathering of movers and shakers at Rastetter's home, he asked Branstad to run again. His disabilities were actually advantages that let him see things in ways others did not. 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. "[5] Jill Ryan was Rick Santorums former deputy campaign manager. 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. [3], In 2003, Rastetter created Hawkeye Renewables and served as the CEO until 2011. He donated more than $160,000 to Gov. Rastetter co-founded Hawkeye Energy Holdings, the largest ethanol producer in the country. "Those things change you. Are public universities being used by corporate interests or are they for the benefit of the people?". 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.. In 2015, Ballotpedia identified Bruce Rastetter as a top influencer by state. Rastetter describes what happened next as the best day of his life. He grew up on a small farm near Buckeye, with three brothers and a sister. It takes a minute and a half to learn what there is to learn about plant breeding., At the time public universities dominated breeding, and for good reason: Profits were limited, since intellectual property rights for soybean plants didnt existand wouldnt for another 30 years. $25 per post at a $5/CPM. Bruce Rastetter Theres always wrinkles in his science and negotiations that catch you off guard, says Monsantos Fraley. He needed to diversify. Please only use it for a guidance and Bruce Rastetter's actual income may vary a lot from the dollar amount shown above. Rastetter, 58, can engage deeply on business issues, but rips through his childhood background quickly during an interview. 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. Iowa politics, ag heavyweight Bruce Rastetter sets sights on $4.5 Jon Probst Managing Director. What I would say is that over the past several years and cycles hes certainly become more active. [2], Rastetter is a prolific political donor. "I suggested," Rastetter told this reporter later that day, "that the governor speak with you.". WE CAME UP SHORT. "Regent Rastetter is pushing an agenda of treating Iowa's universities as corporations rather than institutions of higher learning," said Evan Burger, of the U.S. Student Association, an organization that advocates for student issues. 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. [6] In 2015 Rastetter announced the inaugural Iowa Agriculture Summit to address the political initiatives and interests of farmers and agriculture in the state, such as GMO's, nutrition labeling, food waste, and biotechnology. 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