Billionaire Tesla Investor Tim Draper Says Selling ‘My Island’ in Tanzania for $7.9 Million ‘Or Best Offer’ Via Email — But They Claim the Land Isn’t His to Sell

Selling an island usually involves brokers, lawyers, and a mountain of paperwork. Billionaire investor Tim Draper apparently figured an email address and an X post could get the job done.

“I am selling my island in Lake Tanganyika, Tanzania. Gorgeous place, but we don’t use it enough,” Draper wrote on X on Aug. 28. “$7.9 million or best offer. Anyone interested should contact me directly at tim@draper.vc.”

Draper is no stranger to betting on things other people might overlook. The Silicon Valley venture capitalist was an early investor in Tesla (TSLA) and SpaceX (SPCX), as well as companies including Hotmail, Skype, Baidu (BIDU), Coinbase (COIN), and Robinhood (HOOD).

The island he is referring to is Lupita Island, a roughly 110-acre luxury retreat on Lake Tanganyika that Draper has been associated with for more than two decades. In August, Draper told Forbes that several offers had already come in and that he expected the investment to sell quickly.

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Then Tanzania’s government stepped in with an important clarification: Draper may be able to transfer his investment in the property, but the underlying land isn’t privately owned by him.

The $7.9 Million Island Comes With a Catch

In a statement issued Aug. 31, Tanzania’s Ministry of Lands, Housing, and Human Settlements Development identified the property as Lupita Island in Nkasi District, Rukwa Region, and said the land remains under the ownership of the Tanzania Investment and Special Economic Zones Authority, or TISEZA.

The ministry said that Firelight Safaris, in which Draper is a shareholder, holds a derivative right granted by TISEZA to develop and operate a tourist hotel on the island. In other words, there are valuable investment and operating rights attached to the property, but that isn’t the same thing as owning the underlying land.

“The Land Act, Cap 113, provides procedures through which foreign investors can obtain land for investment under TISEZA, which retains legal ownership of the land,” the ministry said.

The distinction matters because it changes what a buyer would actually be purchasing. According to the government, Firelight Safaris is a legitimate investor and can transfer its investment to another investor, provided the transaction follows Tanzanian law and procedures. The underlying land, however, isn’t being sold as private property.

Draper Turned the Island Into a Luxury Retreat

Lupita isn’t exactly a patch of undeveloped land waiting for someone to bring in a lawn chair.

According to Forbes, Draper acquired the property in 2004 and spent four years developing it into a luxury retreat with 10 cottages, a spa, gym, game room, multiple bars, and a pool. Guests can also take boats onto Lake Tanganyika, kayak, snorkel, fish, and more.

The island has operated as a luxury tourism destination, with visitors arriving through mainland Tanzania before making their way to the retreat. Forbes reported that the property had been available to rent during Draper’s ownership, with a private butler and more than 30 staff members serving guests.

So, Draper’s $7.9 million asking price isn’t necessarily disappearing into thin air. There is a legitimate investment and resort operation that the government says can be transferred. The wrinkle is that the transaction isn’t quite the private island sale his X post makes it sound like.

As of early September, there had been no public response from Draper addressing the government’s clarification. 

For a buyer, the appeal is less about owning a private piece of Tanzania outright and more about stepping into an established luxury resort operation in one of the world’s most unusual settings. At $7.9 million, that makes for a very different proposition than simply buying an island.

Either way, it’s a pretty unusual way to list a multimillion-dollar property… $7.9 million, or best offer, and send the inquiry straight to the billionaire owner’s inbox.

On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.