While a major price for Montana, the deal falls significantly short of the state’s record, which was set in 2021 with the roughly $200 million sale of Beaverhead ranch to media mogul Rupert Murdoch.

After a brief flirtation with higher education, Marxer decided to chase getting hired by a large ranch. He landed a job with the Matador Cattle Co., sometimes referred to as the Beaverhead Ranch ...