Tim Draper, SpaceX and Tesla (learn more) Investor, Selling His $7.9M Private Island in Tanzania
Tim Draper, founder of Draper Associates, is selling his island in Lake Tanganyika for $7.9M or best offer, as he announced on X without a broker or listing. This move comes amidst the European Central Bank’s (ECB) report revealing that EU venture capital funds hold approximately 150 billion euros, about six times less than their American counterparts at 930 billion euros.
Draper shared his decision to part ways with his tropical retreat, stating, "Gorgeous place, but we don’t use it enough." There will be no intermediary; interested parties can reach him directly via email to submit offers.
The island, located in a remote area of Lake Tanganyika, the world’s longest freshwater lake, is not your typical luxury getaway. However, Draper’s track record includes notable investments in companies like Skype, Hotmail, Baidu, and Coinbase, as well as his infamous purchase of nearly 30,000 bitcoins at a US Marshals auction in 2014 for approximately $19M at the time.
This sale highlights the significant difference between early-stage investment opportunities and their future value, especially considering Draper’s substantial portfolio. The ECB’s report also underscores the funding gap between European and American startups, with European scale-ups often relying on external sources beyond the bloc.