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The island of Ni'ihau (Hawaii) is also privately owned: https://en.wikipedia.org/wiki/Niihau

That island has an interesting history. I expected the worst, but the owner seems to take great care.

paid in 1864 €200k adjusted for inflation

now prolly worth a billion

damn that’s a x5000 return

Ignoring inflation in such calculations is part of how the island owners pull one over on the non island owners.

Really difficult to estimate it's worth since the owners are determined never to sell or develop. If value can never be realized, is it still value?

It’s priceless. Good humans if they’ve locked it up in perpetuity.