ToplineVenture Capital billionaire Tim Draper is soliciting potential buyers for a 110-acre private island in Tanzania that he has owned for two decades and said he is asking $7.9 million for what he called a “beautiful place.” Tim Draper in 2023. Sportsfile via Getty ImagesKey FactsDraper, a Tesla and SpaceX investor who made a fortune investing in cryptocurrencies, posted on He told Forbes that he has received several offers since listing on Friday afternoon and that it appears the property “will sell quickly.” Draper said he is asking $7.9 million for the island on Lake Tanganyika, the world’s second-largest freshwater lake by volume, but would also consider the “best offer.” He bought the property, called Isla Lupita, in 2004 and spent four years building 10 cabins, a spa, gym, game room, several bars and a pool. Activities on the island include sailing on a 46-foot boat called the Windsor Rose, swimming at a private beach, visiting the remains of an ancient monastery, kayaking, snorkeling, fishing or traveling to mainland Tanzania for a safari, according to its tourism website. The island was available for rental during Draper’s ownership, and the stay included a private butler and more than 30 staff members to manage the property. Visitors to the island must fly into one of Tanzania’s main airports before taking another flight, either a private jet to Lupita’s private airstrip (and a boat from there) or a commercial flight to the region’s Mpanda airport, a four-hour drive and then a private boat. FORBES VALUATION Draper, worth an estimated $2.3 billion, is the third generation of a family line of venture capitalists and founded his company, Draper Fisher Jurvetson, in 1985. He has invested in major companies such as Tesla, Skype and Theranos, and made most of his fortune in cryptocurrencies. He bought 29,656 bitcoins seized by U.S. marshals on the closed Silk Road black market in 2014 for $18.7 million, or $632 per coin. Bitcoin is now trading at over $77,000 per coin. BIG NUMBER 101.4. That is the number of bitcoins that would be needed to purchase Lupita Island at its initial price of $7.9 million. TANGENSeveral high-profile billionaires have offloaded trophy properties in recent years. Elon Musk, the world’s richest man, said several years ago that he would get rid of almost all of his real estate and most of his possessions in response to criticism of his enormous wealth. He sold all seven residential properties he owned, including a mansion in Los Angeles, a historic home in California’s Bay Area and four properties in Bel Air. He now lives in a small box house in Texas that he says he rents from his rocket company, SpaceX. Amazon founder Jeff Bezos sold his former Seattle-area waterfront property last year for a record $63 million as part of his move to Miami, in the more tax-friendly state of Florida. further readingForbesZara’s billionaire co-founder is now the world’s richest real estate mogul By Giacomo Tognini and Gigi Zamora Forbes Inside Lake Tahoe’s multibillion-dollar real estate boom By Jim Dobson
