From Humble Beginnings to Philanthropic Efforts: Glen Taylor’s $100 Million Donation to Rural America
Glen Taylor, the founder of printing company Taylor Corp., is the wealthiest person in Minnesota, with an estimated net worth of $3.4 billion, according to Forbes. However, his roots 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.
Glen Taylor attends a Minnesota Timberwolves game on March 31, 2024. Photo by David Berding/Getty Images
Philanthropic Efforts and Rural Community Support
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. The foundation supports three nonprofit partners: the Mankato Area Foundation, Southern Minnesota Initiative Foundation, and Saint Paul & Minnesota Foundation, and awards grants in Taylor’s key areas of interest, including child care, food insecurity, emergency medical services, and outdoor recreation.
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. This approach will help generate income for the foundation, which can then be directed toward community needs, such as the $100,000 donation to fund a new ambulance at Buena Vista Regional Medical Center in Storm Lake, Iowa, or the $25,000 to help the Pipestone Economic Authority create a child care center in Pipestone, Minn.
A Personal Connection to Rural Communities
Taylor’s motivation for giving back to rural communities 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. Taylor’s philanthropic efforts are part of a larger trend of billionaires channeling their wealth toward rural communities, including investment banker Byron Trott’s $150 million commitment to a network of universities aimed at boosting enrollment from rural students, and philanthropist MacKenzie Scott’s $36 million donation to rural North Carolina schools.
Taylor’s story serves as a testament to the power of philanthropy and the impact one person can have on their community. As the wealthiest person in Minnesota, Taylor’s $100 million donation will undoubtedly make a significant difference in the lives of rural residents. For more information on Glen Taylor’s philanthropic efforts and the Taylor Family Farms Foundation, visit Here
Image Source: observer.com
