E-commerce giant Alibaba's co-founder Jack Ma has bought a 11,370ha property in New York for US$23 million (S$30 million).
The property boasts trout streams, woodlands and a maple-syrup operation in New York's Adirondacks, the Wall Street Journal reported.
A spokesman for Mr Ma said the property will be used for conservation, but the billionaire will also use it as an "occasional personal retreat".
Known as Brandon Park, it includes more than 14km of the St Regis River, as well as lakes, streams, ponds, forests and a 1940s log camp behind its gated entrance.
There are two homes on the property, as well as lean-tos (a structure used as a camping shelter) and a horse barn.
STOP LOGGING
Mr Jim Wilkinson, a spokesman for Mr Ma, said the new owner's first task will be to stop an existing logging operation on the property.
Mr Ma, who is worth about US$25 billion, has visited the property twice, said Mr Wilkinson.
According to the marketing materials for the land, the property has a brook trout fishery, a hatchery that produces a heritage strain of brook trout and a private-label maple syrup operation.
This is Mr Ma's first investment in conservation land outside of China, where he is a prominent supporter of conservation efforts.
"Protecting the environment in China will always be Jack's first and foremost priority and he will continue his strong efforts here," Mr Wilkinson told CNN.
"This international land purchase reflects Jack's belief that we all inhabit the same planet and we all breathe the same air, so we are dependent on each other for our collective future."
Brandon Park was first listed for sale in 2012, with an asking price of US$28 million. Last year, the asking price was lowered to US$22.5 million.
This article was first published on June 26, 2015.
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