Billionaire Joe Ricketts, owner of the Chicago Cubs and founder of TD Ameritrade, is facing significant backlash from residents of Bondurant, Wyoming. Ricketts plans to rename the small town to Little Jackson Hole as part of his effort to build a high-end resort on his 1,300-acre Jackson Fork Ranch property, according to the Cowboy State Daily.
Ricketts, 82, introduced the idea at a dinner event, proposing the change as a tribute to American pioneer Davey Jackson. Despite his intention to make the area more marketable by leveraging Jackson Hole’s name recognition, the proposal has sparked anger among the 152 residents of Bondurant.
“About 75% of the people all got up and left the dinner right then,” said local resident Pat Burroughs. “They left the gift bags on the table and just walked out.” Burroughs emphasized, “We are Bondurant. This is the Upper Hoback.” She also raised concerns about practical issues, such as confusion for delivery services, noting that one resident had difficulty receiving medication due to the proposed name change.
Ricketts’ plan for the Homestead Resort on his Jackson Fork Ranch property includes a focus on preserving the natural beauty of the Hoback region. Despite this, residents like Richard Pearson, the oldest lifelong resident of the Hoback Basin Valley, are worried about the privacy and character of their community. “I hate to see the change that this is going to bring to the private people who live in this valley,” Pearson told the newspaper.
Pearson also criticized Ricketts for buying up properties in the area to bolster his influence. “He’s bought several places around here,” Pearson said. “It’s just like a cancer. He’s just sucking everything up. Anything that becomes available, he’s buying it.”
Ricketts has recently acquired the White Pine Ski and Summer Resort, a 363-acre resort near Pinedale, 54 miles from Bondurant. He also finalized the purchase of the High Country Suites in Pinedale last month. Despite his assurances that White Pine would remain a “strong part of the community,” locals remain skeptical of his intentions.
The billionaire’s efforts to rename Bondurant and build his resort have highlighted the tension between development and preserving the identity of small communities. As Ricketts pushes forward with his plans, the residents of Bondurant are determined to protect their town’s name and character.
