A "thank you" to the reader who sent me
this link. (I assume this link will break relatively soon.)
When Bavendick was 35, he decided to begin laying a foundation for his family’s future. So, on Feb. 16, 1965, he bought 10 acres of mineral rights in Renville County for $25 per acre – the first in a long string of investments that led to his fortune.
When Bavendick bought his second batch of mineral rights later that year, he began another tradition – philanthropy. He secured the mineral rights on 735 acres just south of Watford City for $2.21 per acre from a family that had sold their farm and contacted Bavendick to see if he would buy the mineral rights. As soon as Bavendick struck the deal, he gave half of the mineral rights to Bismarck Junior College and UND.
“Now they’re drilling big oil wells on it,” he said. “They’re worth about $10,000 an acre now.”
Great story.
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