Real LI

Steve Forbes has sold his family's 171,000-acre Trinchera Ranch in Colorado to billionaire hedge-fund manager Louis Moore Bacon, the Associated Press reports today. Bacon is one of the 400 richest people in the United States. The 51-year-old, who started Moore Capital Management, donated the conservation easement to the Nature Conservancy for the 434-acre Robins Island in 1997 (where he likes to throw English hunting parties) and guaranteed protection from development for the 540-acre Cow Neck Farm in Southampton by donating a conservation easement to the Peconic Land Trust in 2001, according to the AP.