No billionaire wants this island

In the Bay Area, the region of California that includes San Francisco and the Silicon Valley, a private island, Red Rock Island, has been for sale for decades – for $25 million – but no one wants to buy it. Even though it may not seem so, it is a somewhat atypical fact, given that the island is located in a highly popular and coveted area where some of the world's most important tech companies are located. It is also one of the most expensive areas in the United States, not surprisingly, many billionaires live there. For all these reasons, a private island should be quite attractive, yet that is not the case. Completely uninhabited, Red Rock Island has an area of approximately 23,000 square meters – that is, just over three soccer fields. The highest point is 46 meters above sea level, and due to its terrain, it is very difficult to explore, as also noted by the New York Times: apart from a small beach, there are no flat spots. But it is just as difficult to reach: Red Rock Island is, in fact, the only private island in San Francisco Bay, and it is located just a few hundred meters from one of the bridges connecting the two shores. However, it has no infrastructure for docking a boat, and lacks electricity and running water.

What Red Rock Island Could Have Become

The first project for the island’s use dates back to just under fifty years ago: the plan was to level the top part and build a luxury hotel – with a restaurant, casino, and private dock. However, the project was never realized. Over time, several entrepreneurs later proposed building private residences, a beach resort, a botanical garden, or a wind power plant, as one can imagine none of these plans ever came to fruition. Among the failed ideas was also the suggestion of placing billboards there, or erecting a wedding chapel to attract tourists. In the 1970s, the famous erotic magazine Playboy even considered using Red Rock Island as the site of one of its clubs, but nothing came of that either. The reason is that any development on the island requires approval from three different counties, a rather complicated process. Although most of Red Rock Island falls under the jurisdiction of Contra Costa County, the remaining part is divided between Marin and San Francisco counties.

The History of Red Rock Island

The first owner of the island was a U.S. Navy commander, Selim Woodworth – around the mid-19th century. Before him, Red Rock Island had been visited mainly by some miners interested in its manganese deposits, a mineral from which a pigment used in painting was extracted. In 1964, the island was purchased for $50,000 by California lawyer and real estate entrepreneur David Glickman, who used it for camping. The island was first put up for sale in 1979. When he moved to Thailand, Glickman decided to transfer Red Rock Island to his business partner, Mack Durning: upon his death, the island passed to his son Brock, who is the current owner – and has yet to get rid of it. On the real estate agency Christie’s International website, it is stated that the island boasts «stunning panoramic views, rugged cliffs, secluded coves, and a picturesque beach». Speaking with the Guardian, the agent in charge of its sale said he had received expressions of interest from several «high-profile» buyers, but so far, no one has purchased it. In the 1980s, among those interested in buying it was also the renowned Indian spiritual leader Osho. In 2007, the island was put up for sale for $10 million, and following the severe economic crisis, the price was halved. After a break, in 2023, it returned to the market, but at five times the price, to the point that the news was even picked up by major U.S. media. In all likelihood, the reason is linked to the growth of the private island market during the pandemic, when those who could afford such investments were looking for remote locations to retreat to.