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Sounds almost exactly like the Peoples Temple Agricultural Project, better known as Jonestown.
What could possibly go wrong?
Maybe the difference is that he's not starting a cult?
There's tons of communal land ownership projects that didn't end in tragedy.
How does someone become a billionaire while actually maintaining the principle of equitism?
Billionaire equitism-- an oxymoron, no?
I don't know exactly what is meant by equitism, but Urban Dictionary suggests this: "A desperately needed socioeconomic system in which the workforce environment distributes gains within reason between the employees' wages and management's compensation."
Heh. Jesus. That's what we have left to offer? Trailer parks? Methinks Mr. Lore a little late to lay claim to that.. Erm.. innovation.
So... Singapore?