Richard Branson was 29 when he pursued Necker Island, initially offering $100,000 despite its $6 million asking price. (Photo: Owen Buggy)
In 1978, Branson learned that a 74-acre island in the British Virgin Islands was on the market. Virgin’s own timeline confirms that Branson purchased Necker Island in 1978. In 2021, he announced that properties on Moskito Island could be rented by guests.
Because of its connection to the Virgin brand he had launched in 1970 as a mail-order record business, the property was Necker Island, and its name immediately caught his attention. Long before Sir Richard Branson became a billionaire entrepreneur with a global business empire, he was a young businessman looking for a way to impress the woman he had fallen in love with. His idea was extraordinary, buy an island. The entrepreneur later recalled the unusual circumstances surrounding the purchase in an essay published on Virgin’s website. PEOPLE reports that three villas are available for year-round rentals, offering visitors the opportunity to stay on an island otherwise divided among private owners. Virgin Limited Edition also lists both Necker Island and Moskito Island among its collection of luxury retreats.
Branson eventually purchased Necker Island for $180,000 after learning that the property remained unsold a year after his first offer. (Photo: Take Aim Photography) In his account, Branson recalled that he had been trying to find a way to impress the woman he had fallen for, which prompted him to contact the island’s realtor. In a 2023 post on Virgin’s website, he wrote that he originally bought the island “in an effort to impress her. The realtor quoted Branson a discounted asking price of $6 million for Necker Island. He offered $100,000, the highest amount he could afford at the time. This time, Branson returned with a larger offer of $180,000. Virgin Limited Edition describes it as a 74-acre private island in the British Virgin Islands, surrounded by coral reefs and white-sand beaches. In 2007, he purchased the 125-acre Moskito Island, located roughly two miles from Necker Island in the British Virgin Islands. PEOPLE reports that Branson paid $15 million for the property. Branson began developing the island in the mid-2010s and divided it into 10 residential lots that were made available to private buyers, according to PEOPLE. Branson’s island story began when he was still a young entrepreneur who could not afford the $6 million asking price for Necker Island. He first offered $100,000, failed, returned a year later and eventually secured the 74-acre property for $180,000.
Among the reported owners are Real Housewives of New York cast member Erika Hammond and her husband, Ankur Jain. Other reported owners include Paul Salem, chairman of MGM Resorts, as well as technology entrepreneurs Michael and Xochi Birch. Branson wrote that when he heard an island sharing a name with his company was for sale, his immediate reaction was to contact the people selling it. At the time, however, he admitted that he was still in the early stages of building Virgin Records and did not have the money required to purchase a private island. There was, however, another reason he was willing to try. Branson had fallen for Joan Templeman. The response was more encouraging than he could have expected. The realtor offered Branson an all-expenses-paid trip to the British Virgin Islands to see the property. Branson agreed, but only on the condition that he could bring a guest. That guest was Templeman, who would later become his wife. Branson has since described Joan as the inspiration behind his decision to buy Necker Island. The trip succeeded romantically, but the island itself appeared to be well beyond Branson’s financial reach. For a young entrepreneur still establishing Virgin Records, that figure was impossible. Branson nevertheless made an offer. The realtor was reportedly unimpressed. Branson later recalled that he and Templeman were left to find their own way home after the offer failed to impress. But the rejection did not end Branson’s interest in the island. A year later, he discovered that Necker Island had still not been sold. The seller accepted. There was one condition attached to the deal, Branson had to build a resort on the island within four years. What had begun as an ambitious attempt to impress a woman had suddenly become a major property acquisition for a young entrepreneur whose fortune was still in its early stages. Necker Island is now one of the most recognisable properties associated with Branson. The property can be hired exclusively, while selected dates also allow individual guests to book rooms without taking over the entire island. The island has also remained closely connected to the Branson family. Virgin’s own account describes the memories Branson and Templeman created there over the years, with Branson calling the decision to buy it one of the best he ever made. But Necker Island was not the end of Branson’s private-island ambitions. Moskito Island is now divided among nine private families, including Branson, who share and maintain common amenities such as beaches and tennis courts. (Photo: Alamy) Nearly three decades after acquiring Necker, Branson expanded his Caribbean property portfolio. Unlike Necker Island, however, Moskito Island eventually evolved into a private residential community with multiple owners. Their ownership of a property on Moskito Island became a talking point on the reality show, with Hammond discussing the island’s private nature and its multiple family owners. residents share access to common amenities and jointly maintain parts of the island, including beaches and tennis courts Although individual estates are privately owned. The result is an unusual arrangement, a private island community where several wealthy families own individual estates while sharing parts of the surrounding infrastructure. Branson’s private-island portfolio is not entirely closed to outside visitors. The motivation was deeply personal, he wanted to impress Joan Templeman, the woman who would become his wife. Decades later, that youthful gamble sits at the heart of one of the most unusual chapters of Branson’s business and personal life. Necker became a luxury private retreat, while his later purchase of Moskito Island evolved into a private residential community shared by a group of wealthy families. You use AI every day. Now get your AI Quotient. Take the AIQ test.
Today, nine private families are reported to own estates on the island, including Branson himself.
