The billionaire cofounder of Home Depot just dropped $20 million on a sprawling ranch in Montana.
Arthur Blank, who owns the NFL's Atlanta Falcons, owns two other ranches nearby. Blank is worth an estimated $5.3 billion, according to Forbes.AdvertisementThe Paradise Valley Ranch was listed for $19.95 million, but the final closing price has not been disclosed, according to real-estate brokerage Hall and Hall, which represented Blank in the sale and claims to be the largest ranch brokerage in the US.
Blank says he bought the ranch to preserve the land.
"What's most important for our neighbors to know is that this purchase is about conservation, not development," Blank said in a statement. "We will respect the tradition of ranching while keeping our lands in their original, intact state for the sake of beauty and wildlife."
Take a look at the 9,300-acre ranch that's an hour from Yellowstone National Park.
Arthur Blank, the billionaire cofounder of Home Depot and owner of the Atlanta Falcon's NFL team, just bought a $20 million ranch in Montana.
Blank is worth an estimated $5.3 billion, according to Forbes.
Blank's new property, the Paradise Valley Ranch, is located about nine miles south of Livingston in southwestern Montana.
Livingston is a town of about 7,700 people that has attracted the attention of Hollywood celebrities.
The Paradise Valley Ranch is made up of 40 separate lots that span a combined 9,300 acres.
The billionaire Home Depot cofounder says he bought the ranch for conservation purposes.
The Paradise Valley Ranch is mostly undeveloped.
The thousands of acres of land serve as critical habitat for a giant herd of wintering elk, according to the brokerage.
The ranch offers stunning views of the Absaroka mountain range.
The ranch is a 30-minute drive from Bozeman, an outdoorsy college town with a population of about 48,000.
And Yellowstone National Park is about an hour's drive away.