American billionaire and venture capitalist Tim Draper has listed his private island Lupita in Tanzania for sale for 7.9 million USD or the best offer.
The 445-acre island is located in Lake Tanganyika - one of the largest and deepest freshwater lakes in the world. Draper announced the sale personally on the social network X, explaining his decision by saying that his family does not use the property enough.
The investor said to Forbes that he has already received several offers and expects the deal to be concluded relatively quickly. However, the sale has not yet been finalized, and the reported $7.9 million represents Draper's asking price, not an independent appraisal of the property.
Draper acquired the property in 2004 and spent about four years developing it as a luxury resort.
Today, Lupita Island has ten guest houses that can accommodate up to 26 people. The complex also has a swimming pool, spa, gym, games room, several bars and a private beach. It also has a 46-foot boat, and guests can go kayaking, fishing and snorkeling. More than 30 people work on the island.
Access to the property is relatively difficult. Visitors usually arrive by plane to an airstrip on the Tanzanian mainland, then continue by boat. Another option is to fly to the city of Mpanda, followed by a journey by land and water.
Tim Draper is one of the most famous figures in American venture capital. Forbes estimates his fortune at about $ 2.3 billion. The investment firm Draper Fisher Jurvetson, which he co-founded, was among the early investors in Tesla and SpaceX, and Draper's portfolio also includes Skype, Hotmail, Baidu and Coinbase.
The billionaire is also known as one of the most active early supporters of bitcoin. In 2014, he paid about $ 18.7 million for 29,656 bitcoins confiscated by US authorities in connection with the illegal online marketplace Silk Road.
However, the sale of Lupita may turn out to be more complicated than a simple real estate transaction. Tanzanian law places restrictions on direct land acquisition by foreigners, with investment properties typically held through specific rights or corporate structures. Details of the legal structure of the ownership, tourism licenses, operating costs, and whether the prospective buyer will acquire just the property or the entire operating resort business have not been made public at this time.
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