American venture capital billionaire Tim Draper has placed his 110 acre private island in Tanzania on the market for $7.9 million or the best offer, opening an unusual luxury property sale that he is handling directly rather than through a publicly disclosed broker, Business Insider Africa reported. Draper announced the sale on X, saying his family no longer uses the property enough. He has reportedly already received several offers.
The property, Lupita Island, sits in Lake Tanganyika and was acquired by Draper in 2004. He subsequently spent four years developing it into an exclusive retreat featuring 10 guest cottages, a private beach, swimming pool, spa, gym, game room, multiple bars and a 46 foot boat. The resort can accommodate up to 26 guests and employs more than 30 people.
The island’s remote location is part of its appeal but also presents logistical challenges. Guests typically travel through mainland Tanzania before completing the journey by boat. The property has operated as a private luxury resort during Draper’s ownership, offering activities including kayaking, fishing, snorkelling, boating and access to mainland wildlife experiences.
For Tanzania’s luxury tourism market, the proposed sale highlights the value of exclusive, experience driven African destinations to international high net worth investors. However, potential buyers would need to establish the precise ownership and investment structure, as Tanzanian law generally restricts direct foreign ownership of land and typically provides foreign investors with leasehold or derivative rights for approved investments.
