Real Estate, Car Dealerships, Bitcoin And A TIF: A Look Into Toby Doeden's Businesses

June 22, 2026 - 01:16

Aberdeen businessman Toby Doeden, whose campaign for governor has centered on a promise to eliminate property taxes, has deep ties to a web of real estate investment firms and other ventures. A review of his business holdings reveals a portfolio that includes car dealerships, cryptocurrency investments, and the use of Tax Increment Financing, or TIF, a tool that often redirects property tax revenue for development.

Doeden's real estate interests are structured through multiple limited liability companies. These entities have been involved in acquiring commercial properties across the state, often leveraging debt and investor capital. One notable aspect of his strategy involves the use of TIF districts, which allow a portion of future property tax increases to fund infrastructure improvements. Critics argue this practice contradicts his campaign stance against property taxes, as TIFs rely on the very tax system he vows to dismantle.

Beyond real estate, Doeden has holdings in auto sales. He has owned or operated dealerships in several communities, a sector that has faced its own regulatory challenges. More recently, he has publicly promoted Bitcoin and other digital assets, incorporating them into some of his business operations. This mix of traditional brick-and-mortar businesses with high-risk digital currency speculation paints a picture of a candidate whose financial interests are both broad and, at times, contradictory to his anti-tax message. As the gubernatorial race heats up, opponents are likely to scrutinize how his business practices align with the sweeping tax reforms he has proposed.