Glen Taylor attends a Minnesota Timberwolves game on March 31, 2024. Photo by David Berding/Getty Images

Glen Taylor, the founder of printing company Taylor Corp., is the wealthiest person in Minnesota. His roots, however, trace back to humble beginnings on a dairy farm just outside Comfrey, Minn. Now, the 84-year-old billionaire is looking to spread his wealth across his home state—and beyond—through a new $100 million donation aimed at supporting rural communities.

Taylor is transferring farmland and securities valued at nine figures to the Taylor Family Farms Foundation, a philanthropic initiative supporting rural areas in Minnesota and Iowa. “With this latest gift, I can give back for years to come and make a positive impact on the lives of others in a region that I love so much,” said Taylor in a statement.

Taylor currently has an estimated net worth of $3.4 billion, according to Forbes. He is also the owner of the Minneapolis Star Tribune and the former majority owner of both the Minnesota Timberwolves and the Minnesota Lynx.

This isn’t the first time Taylor has used his fortune to give back. In 2023, he launched the Taylor Family Farms Foundation with roughly $173 million worth of farmland. The foundation supports three nonprofit partners: the Mankato Area Foundation, Southern Minnesota Initiative Foundation and Saint Paul & Minnesota Foundation. It also awards grants in Taylor’s key areas of interest, including child care, food insecurity, emergency medical services and outdoor recreation.

Those earlier farmland gifts have already generated millions in income, which the foundation has directed toward a range of community needs. Past donations include $100,000 to fund a new ambulance at Buena Vista Regional Medical Center in Storm Lake, Iowa, $15,000 for firefighter radios at the Storm Lake Fire Department, and $25,000 to help the Pipestone Economic Authority create a child care center in Pipestone, Minn.

Taylor’s latest farmland contributions will not simply be liquidated, but instead used to benefit local residents directly. The farmland will be made available to farmers and rented out, according to the Star Tribune, which noted that Taylor once owned nearly 18,000 acres of farmland across Minnesota and Iowa.

Taylor is not alone in channeling billionaire wealth toward rural communities. Investment banker Byron Trott, who hails from the small town of Union, Mo., last year committed $150 million to a network of universities aimed at boosting enrollment from rural students. This effort has already increased applications by 20 percent. And last December, philanthropist MacKenzie Scott donated $36 million to rural North Carolina schools like Robeson Community College and Bladen Community College.

For Taylor, the motivation is deeply personal. He credits much of his success to his upbringing in southern Minnesota, where he worked on farms and raised chickens. “The children and families of rural communities will always hold a special place in my heart because I have shared their experiences,” he said. “I can think of no better way to create opportunities for them than by working in partnership with these amazing nonprofit organizations.”