Billionaire media mogul and founder of CNN Ted Turner is selling his private island off the coast of South Carolina for $23.7 million – because his family does not use it enough. “My family and I have owned St. Phillips Island along the South Carolina coast for many years now,” Turner said in a statement released by Hall. “While we have enjoyed the island and made so many memories there, we, unfortunately, are not able to visit as much as we would like. Therefore we have chosen to sell the property, in an attempt to pass on St. Phillips Island to another family who will enjoy this natural oasis as much as we did.”
The 75-year-old entrepreneur and philanthropist, who is reportedly worth more than $2billion, bought the 4,680-acre St. Phillips Island in 1979, adding to his giant portfolio that has made him the largest landowner in the United States.