Bill Gates firm buys Arizona land for $80 million to create ‘smart city’

A real estate investment firm owned by Bill Gates recently bought a giant plot of land in Arizona for $80 million to be developed into a “smart city.”

Arizona-based Belmont Partners, one of Gates’ investment firms, purchased close to 25,000 acres of land in Tonopah, around 50 miles west of Phoenix, to create a “smart city” called Belmont, KPNX reported.

“Belmont will create a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology, designed around high-speed digital networks, data centers, new manufacturing technologies and distribution models, autonomous vehicles and autonomous logistics hubs,” Belmont Partners said in a press release, according to KPNX.

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