A bitcoin billionaire is attempting to sell his private island in Africa, often humorously. Tim Draper shared that he has received a flurry of unique offers, including trades for gold mines, houses, and even cows, among others. “I’ve even seen offers for just a dollar with the promise of paying the rest later,” he told The Post.
Draper is looking to sell Lupita Island in Tanzania, which has become a talking point on social media since he posted about it on X on August 28. He described the property as a beautiful spot that his family doesn’t utilize enough, listing it for $7.9 million or the best offer.
The situation became more complicated when Tanzania’s Ministry of Lands clarified that Lupita Island isn’t actually owned by Draper but by the Tanzania Investment and Special Economic Zones Authority (TISEZA), which means he legally can’t sell it. Firelight Safaris Ltd., a company where Draper has a share, possesses a “Derivative Right” to manage the resort he established on the island.
Draper acknowledged that while he holds certain rights to the island, the land itself remains government property. “What I’m selling are the improvements made on the land,” he said. The buildings and villas are under a lease from the Tanzanian government. This structure is typical in Tanzania, where land ownership is public and foreign investors generally work under government leases, similar to practices in tourist-heavy regions like the Maldives.
The rights granted can last for up to 99 years, with possibilities for renewal. Lupita Island is nestled in Lake Tanganyika within Tanzania’s western Rukwa Region and is accessible only by boat. The island, spanning 110 acres (about 0.17 square miles), sits in a lake known for being the second-deepest in the world, reaching depths of about 4,820 feet.
Draper’s resort features ten spacious thatched-roof cottages, some equipped with open-air baths and private plunge pools, alongside a spa, gym, swimming pool, games room, and multiple bars, as well as a 46-foot boat.
The idea for Lupita initially took shape during a Caribbean island trip back in 2001, which inspired Draper to create his own exotic getaway. After a family safari in Tanzania, he, along with safari operators Tom and Belinda Lithgow, decided on the then-uninhabited Lupita. Construction kicked off in 2004, and the resort officially opened its doors in 2008 after a reported investment of $6 million and a few costly setbacks.
Draper characterizes Lupita as an “escape hatch” and a long-term investment in African tourism, but he’s selling it now because, simply put, his family doesn’t use it as much as they thought they would.
He’s not the only billionaire drawn to island living. Richard Branson transformed Necker Island into a luxury retreat, while Larry Ellison acquired most of Hawaii’s Lanai Island for a reported $300 million, later pouring resources into renovations and community amenities.
On another note, Draper has spent decades making notable investments in Silicon Valley. He founded Draper Associates in 1985 and built the Draper Venture Network, backing firms like Hotmail, Tesla, SpaceX, and Coinbase.
A strong advocate for bitcoin, Draper notably won a U.S. Marshals auction in 2014 for nearly 30,000 bitcoins, spending around $18 million at the time. Today, that amount could be worth around $2.3 billion—over 100 times its original value.
As he looks for a buyer for his island, Draper seems to be enjoying the process, finding humor in the offers he’s received. “When all is said and done, this might just turn into a book,” he remarked.
