
Besides the endless luxury, the one key reason why the elite invest in private islands is the privacy they offer, a chance to unwind in a secluded paradise, away from the public eye.
With privacy also comes freedom, as owning an island allows billionaires complete control over the property, which gives them the creative freedom to change the place into anything they want.
In today's world and economic situation, owning a private island is a status symbol that reflects the owner's influence and true wealth.
From Hawaii to Mediterranean retreats, here are 5 most exclusive private islands owned by billionaires.
1. Lanai, Hawaii

Owned 98% by Oracle co-founder Larry Ellison, Lanai is Hawaii's sixth-largest island.
The captivating heaven was sold to the billionaire for a reported $300 million in 2012, and since then, Larry has turned the island into a sustainable paradise with solar-powered infrastructure, organic farms, two Four Seasons resorts, and advanced water filtration systems.
2. Necker Island

English businessman Sir Richard Branson purchased Necker Island for just $180,000 in 1979.
Part of the British Virgin Islands, the 74-acre Caribbean retreat can host around 40 guests who can enjoy an infinity pool with stunning views and Balinese-inspired villas.
3. Moskito Island

A short boat ride from Neckar is another stunning island owned by Richard called Moskito, which he acquired in 2007 for around £10 million.
The island is divided into estates, including the Branson Estate and other privately owned compounds by billionaires.
4. Musha Cay

Owned by American magician and illusionist David Copperfield, Musha Cay stretches over 700 acres and features five guest houses, each with its own private beach.
Based in the Bahamas, the breathtaking island is an old-style Caribbean retreat, which also contains a beachfront movie theatre, treasure hunts, and a full-time staff of 30.
5. Velaa Private Island

Built by Czech billionaire Jiří Šmejc, Velaa Private Island, located in the Maldives, is a luxury resort that features 43 villas, a golf academy, and a spa offering treatments.
Aside from luxury reasons, some billionaires also use their private islands for eco-friendly projects, philanthropic initiatives, and conservation efforts.