Unlike their counterparts even two or three generations ago, black people living and working in the Delta today have been almost completely uprooted from the soil—as property owners, if not as laborers. In Washington County, Mississippi, where last February TIAA reportedly bought 50,000 acres for more than $200 million, black people make up 72 percent of the population but own only 11 percent of the farmland, in part or in full. In Tunica County, where TIAA has acquired plantations from some of the oldest farm-owning white families in the state, black people make up 77 percent of the population but own only 6 percent of the farmland. In Holmes County, the third-blackest county in the nation, black people make up about 80 percent of the population but own only 19 percent of the farmland. TIAA owns plantations there, too. In just a few years, a single company has accumulated a portfolio in the Delta almost equal to the remaining holdings of the African Americans who have lived on and shaped this land for centuries.
This is not a story about TIAA [Teachers Insurance and Annuity Association]—at least not primarily. The company’s newfound dominance in the region is merely the topsoil covering a history of loss and legally sanctioned theft in which TIAA played no part. But TIAA’s position is instrumental in understanding both how the crimes of Jim Crow have been laundered by time and how the legacy of ill-gotten gains has become a structural part of American life. The land was wrested first from Native Americans, by force. It was then cleared, watered, and made productive for intensive agriculture by the labor of enslaved Africans, who after Emancipation would come to own a portion of it. Later, through a variety of means—sometimes legal, often coercive, in many cases legal and coercive, occasionally violent—farmland owned by black people came into the hands of white people. It was aggregated into larger holdings, then aggregated again, eventually attracting the interest of Wall Street.
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