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Wealth-X reveals top billionaire island owners

American and European billionaires share one thing in common other than massive wealth: they have a taste for expensive private islands in exotic locations. Islands in Hawaii and The Bahamas reportedly rank top with UHNWI's. 

Thursday, June 27, 2013
Thursday, June 27, 2013

NEW YORK, June 27, 2013 /PRNewswire/ — American and European billionaires share one thing in common other than massive wealth: they have a taste for expensive private islands in exotic locations.

Wealth-X, the ultra high net worth (UHNW) business development solution for global private banks, luxury brands, educational institutions and non-profits, has released a list of the wealthiest owners of luxury islands valued at US$10 million and above.

“Money is no object for the ‘best in class’ billionaire real estate,” Wealth-X CEO Mykolas Rambus said. “Even though it may seem that some of these island properties are rustic or ordinary, you can expect the highest standard of security, privacy and exclusivity – with bespoke, contemporary amenities for these individuals, their families and friends.”

All of the five hail from the West, suggesting that the cachet of buying prestigious island properties has yet to establish itself inAsia.

Mr. Rambus added: “Our research suggests a great opportunity for luxury island realtors to turn their sights towards Asia, where appetite for prestigious property is soaring.”

For Lawrence Ellison (aka Larry Ellison), co-founder and CEO of technology giant Oracle, it is the 90,240-acre Hawaiian island of Lanai which he bought in June 2012 from US businessman David Murdock. Ranked number 1 in the list, Lanai Island is home to two resorts, about 500 homes and two championship golf courses.

Others in the list include Bernard Arnault, the French luxury business titan, whose 133-acre Indigo Island comprises hilltop villas, pristine beaches and a small marina; Google CEO Larry Page who owns the 30-acre Eustatia Island in the British Virgin Islands; Paul Allen, Microsoft co-founder and chairman of Vulcan Inc., owner of the 292-acre Allan island off Washington State in the US; and Russian oligarch Roman Abramovich, who owns New Holland Island off St Petersburg, Russia.

For the full list, please visit: www.wealthx.com.

Minister for Grand Bahama Michael Darville met with the new president of Buckeye Partners Khalid Muslih and the Bahamas Maritime Authority managing director and chief executive officer Commander Davy Rolle at his offices in Freeport, Grand Bahama.

Speaking at an industry briefing yesterday, leading captive insurance expert Peter Strauss of The Strauss Law Firm LLC said he believes that The Bahamas is poised to re-establish itself as the jurisdiction of choice for SME captives.

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