'Lord of Isles': Meet the mega-rich entrepreneur who’s bought THIRTY private islands in just nine years
- Chinese Lin Dong, 42, earned his fortune by playing stock market in 90s'
- He bought his first island for family holidays in 2006 in southern China
- The businessman has spent £3.16 million on buying islands for pleasure
- Lin is now leading a group of millionaires to snap up islands worldwide
- Their targets include islands on South Pacific near Fiji, Tuvalu and Tahiti
In China it's hard to keep up with the must-have multimillionaire status symbol.
First it was luxury yachts, then private jets, but now the nouveau riche are turning their attention to private islands.
One such 'Lord of the Isles' is Lin Dong, 42, a successful entrepreneur from Guangdong, southern China.
Ever since he bought his first private holiday island in 2006, a tiny lake isle called Jialan in his native province, super rich Lin has purchased at least 30 islands across in just nine years.
As a frontier among China's private owners, Lin is now leading a group of Chinese millionaires to the South Pacific to purchase stunning islands out there, reported the People's Daily Online.
Relaxing in paradise: Lin Dong, 42, has bought more than 30 islands across the world, including this private island in the South China Sea
Elite: He has even founded China's first association of island owners, a select group of 50 members
Mr Lin earned his fortune first by playing in Chinese stock market in 1990s, then by running a medical equipment company.
He said he bought a small island in 1999 for agriculture purpose, but in 2006 he bought his first island for pleasure.
'I have focused on buying islands with beautiful scenery and beaches since 2006. This way, I can build houses on them for holiday purpose,' Lin told Guangzhou Daily.
'Most islands I have are on lakes, around 20 of them. I also have more than 10 peninsulas.'
The wealthy businessman has already spent 30 million Yuan (£3.16 million) on his portfolio of islands, and plans to snap up even more.
Tropical: Mr Lin is leading a group of 70 millionaires to Fiji, Tuvalu and Tahiti to purchase South Pacific islands
Secluded: The Chinese noveau riche are now turning to islands overseas. Pictured is a beautiful private island in the Caribbean sea
Lin has even founded China's first association of island owners, an elite community of 50 members, to buy islands around the world as a group.
'Chinese only just started buying private islands,' Lin said to Guangzhou Daily.
'Many people bought islands for other purpose in the past, but it was only until recent two years that more and more people are buying them for leisure.'
Around 70 Chinese tycoons are due to join Lin's on a tour later this month to buy up islands in Fiji, Tuvalu and Tahiti.
Breathtaking: He says that he buys islands simply for pleasure, although many Chinese millionaires look for investment opportunities. Pictured is a private beach on the Turks and Caicos Islands
Fijian islands currently on sale include the spectacular Katafanga Island, which is on the market for £16.2 million.
According to the sellers, the stunning island offers 225 acres of unspoiled beauty and breathtaking beaches, and is surrounded by a 5,000 acre natural blue lagoon.
The purchase also includes villas, a private runway and a golf course, and it is advertised as an ideal location for a luxury resort.
Islands in China have strict restrictions on their use and are sold on a lease of 50 years.
However, overseas islands are sold freehold, which is why they are increasing in popularity among the Chinese elite.
In April, Chinese property developer Wendy Weimei Wu snapped up New Zealand's Slipper Island for £3.5 million.
Earlier this year, another Chinese businessman bought a Fiji island for the comparatively cheap price of 5 million Yuan (£525,000).
There are more than a million dollar millionaires in China, who are increasingly seeking to invest in real estate overseas.
Exquisite: Islands are increasing in popularity among the Chinese elite as they look to invest in real estate
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