Owning a private island is something very few people can even dream of. But some of the super-rich not only own a slice of paradise, they’ve also managed to turn these exotic destinations into a lucrative business opportunity.
L’Oreal billionaire heiress Liliane Bettencourt, for example, recently made headlines after selling her private island in the Seychelles for $60 million. While Oracle co-founder Larry Ellison’s half a billion dollar purchase of Hawaii’s sixth largest island in June is considered to be one of the most expensive deals in history.
We look at eight business tycoons who own private islands around the world. Our list of islands ranges from popular Caribbean island getaways to some of the most remote destinations — all in the quest for paparazzi-free privacy.
So, which billionaires own some of the world’s most expensive private islands? Read ahead to find out.
Owner: Larry Ellison
Purchase price: $500-$600 million
Tech titan Larry Ellison’s purchase of 98 percent of Hawaii’s sixth largest island — Lanai — is considered among the most expensive in the world.
Ellison — the third richest person in the U.S. and sixth richest in the world according to Forbes — bought Lanai in June from David Murdock, the billionaire behind Dole Foods. The 141 square-mile island is known for its pineapple fields and is home to 3,000 people. Tourists visit the island for its two Four Seasons resorts, golf courses and luxury housing. Oracle co-founder Ellison now owns the two luxury resorts as part of his share of the island, while the remaining two percent is owned by private residents and the local government.
As part of the sale agreement, former owner Murdock retains the right to develop a 200-megawatt wind power project on northwestern Lanai. That has faced stiff resistance from locals concerned about the operation disturbing archeological sites and displacing native birds. Residents have been vocal in their demands that Ellison respect the island’s native history and artifacts in his future development plans.
Necker Island, British Virgin Islands
Owner: Richard Branson
Estimated value: $100 million
Virgin Group’s Richard Branson bought Necker Island in the British Virgin Islands for about £180,000 in 1978 , and the island is now worth an estimated $100 million.
The flamboyant British billionaire turned the 74-acre island into a luxury retreat in 1984, with Balinese style houses run by 60 private staff. The resort can provide accommodations for up to 28 people, and individual rooms for a week-long gateway can cost up to $35,000. Renting the entire island reportedly costs over $50,000 a night. The island also has more than 200 flamingos; and, for a daily fee of $2,500, guests can go underwater on a three-person submarine called the Necker Nymph.
Some famous celebrities who have tied the knot on the exclusive island include Branson and wife Joan, and Google co-founder Larry Page who married Lucy Southworth in 2007. Necker Island made headlines in August last year when British actress Kate Winslet and Branson’s family were among guests that escaped uninjured from a major house fire caused by a lightning strike during a tropical storm.
St. Phillips Island, South Carolina
Owner: Ted Turner
Purchase price: $2 million
Media mogul Ted Turner, who is one of the largest private landholders in the U.S., bought St. Phillips Island, off the South Carolina coast in 1979 – a year before he launched CNN.
The 5,512 acre-island of marsh and woodlands was a perfect fit for Turner, who is known for buying land and restoring it to its natural habitat. The purchase also included a 298-acre landing area on neighboring St. Helena island, which is inhabited by a group of Gullah descendants. The area was a communal refuge for this group of African Americans, who have maintained vestiges of African speech and customs, where they could hunt, fish and gather without restrictions. A dispute over the land resulted in a lawsuit by Turner , who eventually dropped the suit and donated 68 acres of the disputed property to the group in 2002.
The St. Phillips island remains private and is under the watch of a caretaker.
Allan Island, Washington
Owner: Paul Allen
Estimated value: $13.5 million
Microsoft co-founder and billionaire investor Paul Allen listed Allan Island, which he bought in 1992, for sale in August last year at $13.5 million. The 292-acre island has been on and off the sale block since 2005, when the initial asking price was $25 million.
The island, named after a Navy hero, is located in the San Juans archipelago in the Pacific Ocean, off the coast of Anacortes, Washington. Allen had reportedly bought the island to build a vacation home, but instead purchased land on nearby Lopez Island in 1996 to build the home. The island is mostly underdeveloped with just a log caretaker’s cabin, a dock and a 2,400 feet grass airstrip.
And there's a big drawback: the island has no electricity, and it would cost a reported $3 million to pipe power in , according to the island’s property agent.
Owner: David and Frederick Barclay
Purchase price: $4.3 million
Billionaire twins David and Frederick Barclay bought the island of Brecqhou in the English Channel Islands in 1993 for $4.3 million.
The brothers, British businessmen whose empire includes The Daily Telegraph newspaper and The Ritz hotel, went on to transform the 80-acre island with gardens, vineyards, a pub, and a village that has a chapel. About 190,000 trees, shrubs and flowers have been planted on the island, which is home to 2,000 species of animals. The brothers also built a castle-like stone mansion with a helipad. The getaway, 80 miles off the U.K.’s southern coast, is the perfect getaway for the 77-year-old Barclay twins who guard their privacy: the most recent photograph in circulation for the billionaires is from 2000, when they were knighted for charitable work.
This year, the island’s gardens opened for day trips for guests staying at one of the brothers’ luxury hotels in neighboring Sark Island. In recent years, the twins have made headlines over legal disputes with the Sark government. They own several businesses on the island, including hotels and a construction company.
See the full list of Billionaire Private Islands
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