For the past 25 years, Arthur M. Blank has quietly purchased ranchland in Montana’s Paradise Valley, adding one property at a time in a place he loves. What began as a personal connection to the valley has grown into a 33,000-acre collection of ranches, conservation land and hospitality ventures. With the opening of Auster at Dome Mountain, Blank is making one of those properties available to the general public year-round for the first time.
After losing his job at a regional hardware chain in 1978, Blank turned a career setback into one of American retail’s biggest success stories. He teamed up with Bernie Marcus to start The Home Depot less than a year later. By the time he stepped down as co-chairman in 2001, the company was valued at $50 billion. The following year, Blank joined an elite circle of NFL team owners by purchasing the Atlanta Falcons for $545 million.
The new Auster property stretches across more than 6,000 acres beneath Emigrant Peak and the Absaroka Range, with four miles of riverfront and 20 one- to three-bedroom cabins designed for year-round stays. Much of the activity centers on the main lodge, where guests and locals can eat or have a drink at Southwind Kitchen and Saloon, including on its rooftop deck. A retail market, drive-thru coffee stand and trailhead sit near the entrance, while overnight guests have access to a pool, guided hikes and horseback riding. Whitewater rafting and fly-fishing trips can also be arranged through local outfitters.
Guests can also book tee times at Rising Sun Golf Course, an 18-hole course designed by Johnny Miller just a short drive away at the sister property, Mountain Sky Guest Ranch. Staying true to the relaxed spirit of the place, Blank’s team kept construction within the original 1960s guest facility footprint. They moved the old guest cabins to use as employee housing instead of tearing them down.
Even the name gives a hint of Blank’s vision. Auster comes from the Latin word for the south wind, chosen to suggest movement and arrival, a place where people can settle in after a long journey. Since most guests are traveling from far away to reach this 6,000-acre Montana ranch, the name fits.
This matches how Blank usually describes the ranches. He sees them not just as real estate but as an extension of the approach he used at Home Depot, which he later explained in his book Good Company. For Blank, it comes down to six core values: put people first, listen and respond, include everyone, innovate continuously, lead by example and give back to others.
“My family fell in love with Montana when we first began coming here more than 20 years ago,” owner Arthur M. Blank said in a statement. “When you’re outdoors in this rich physical beauty where the world slows down, you can take a moment to reflect on what’s really important to you personally.”
“For me, that’s enriching the lives of the people we serve in our businesses and the communities around us. By increasing our philanthropy in Montana, I’m hopeful we can make an impact where the needs are greatest.”
Blank says much of his outlook comes from his mother, who inspired his approach to business: make a difference while you’re here because you only get one chance. For him, that means putting much of his fortune back into communities instead of just buying properties. He plans to give the vast majority of his wealth to his family foundation, which has donated more than $1.7 billion since 1995. The AMB West Community Fund, an associate-led giving committee of the Arthur M. Blank Family Foundation, tells me they are committed to donating more than $13 million to Montana nonprofits to strengthen communities across the state.
Each land deal has the same message: the goal is to protect the land, not develop it. After Blank bought Paradise Valley Ranch in 2019, he placed about 8,800 acres under a permanent conservation easement with the Gallatin Valley Land Trust. This legal agreement prevents future residential or commercial building but still allows ranching and recreation.
This approach is consistent across all four Montana properties. Auster is now joining three others in the AMB West portfolio. Mountain Sky Guest Ranch began as a dude ranch in 1929, where Blank was a regular guest for years before buying it in 2001. It became the first property in what later became AMB West. The 10,767-acre ranch offers all-inclusive five- and seven-night stays with horseback riding, cattle work, gourmet meals, and a wellness center.
West Creek Ranch, purchased in 2017, borders Mountain Sky about 25 miles north of Yellowstone. At 6,700 acres, it is an invitation-only conference and retreat space run by the Arthur M. Blank Family Foundation rather than a typical guest ranch. Nonprofit leaders gather there to work on issues like veteran health, urban housing, and climate resilience. Paradise Valley Ranch, bought in 2019, spans 9,600 acres and is home to elk, mule deer, antelope, golden eagles, and mountain lions. This land is now protected under the 2023 conservation easement. Across all four properties, AMB West runs a Land and Livestock program, a hunting program, a challenge course, and a base camp for guests and the surrounding community.
Together, Blank’s four Montana properties cover more than 33,000 acres but serve different purposes, from public lodging and working ranchland to an invitation-only conference and retreat space for nonprofit groups. Auster is the newest hospitality venture in the portfolio and the first property open to the general public year-round.