DAR ES SALAAM, Tanzania (XOL Africa) — Technology investor Tim Draper is seeking $7.9 million for his investment in Lupita Island resort, but Tanzanian authorities say he does not own the island itself.
Authorities clarified that Lupita Island is state-owned and that Draper holds rights to develop and operate resort facilities there. Those rights do not amount to ownership of the island’s land under Tanzanian law.
Lupita Island is a high-end, 110-acre retreat that has operated since 2004 and includes multiple resort amenities. The property is located in Lake Tanganyika and faces environmental conditions distinct from those affecting some of Tanzania’s disappearing coastal islands.
Draper’s planned exit from the investment has put the resort and the terms of his interest in the property back in the spotlight.
Tanzanian authorities emphasized that any transaction involving Draper’s investment or operating rights would not change the ownership status of the island.
“The state owns Lupita Island,” authorities said, while clarifying that Draper’s interest concerns the development and operation of resort facilities rather than ownership of the land.
Under Tanzanian law, the island would remain state-owned regardless of any sale or transfer of Draper’s investment interest.
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