I am pretty sure they are still farming the land, Gates just took ownership. I knew Greg Campbell in college, cool guy, it was their land bought in the 80's and 90's to sell, they worked their butts off, and took huge risks. Lots of big farms in the area getting out while they can and they are set for life with winter homes in Palm Srings, CA etc. It is primo flat black rockless soil able to grow sugar beets and potatoes. They still also have an irrigated farm in Minnesota with considerable less risk than dryland farm and sometimes the best business decision it to quit or sell while you are ahead. How anyone farms with $4 fuel and all the spiraling inflation costs is beyond me. I imagine a mutual contact put them in touch with Gates and he made them an offer they could not refuse or any normal farmer match. The media got this all wrong as usual.
This is them...some nice John Deere porn if you are into nice machinery...