I think the $1.1 million figure is wrong. I read in FR that Reid sold his land to a LLC for $400K. He then later received $1.1 million as his share of the land sale. $400K plus $1.1 million = $1.5 million.
He and one or more persons set up a LLC and he transferred the land (not really sold it, except on verbal statement ), having a value then alleged to be $400,000. The LLC later sold the land and his share was $1,100,000. That's an "obscene" profit of $700,000. More than Big Oil makes. He would have reported the profit on his personal tax return. That's the way a LLC works. As an accountant, I am advising he did those things in the best manner for investment purposes. Neveryheless, how sweet it is....