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Friday, June 8, 2012

Craig McCaw Selling Island, Buys World's Most-Expensive Car

Seattle tech magnate Craig McCaw just paid a world record $35 million for a classic car. Now, he's trying to unload a private Canadian island for $75 million.

McCaw, co-founder of McCaw Cellular, sold the company to AT&T in 1993 for $11.5 billion, and has since started high-speed wireless provider Clearwire. He is 804th on the Forbes Billionaires list.
The car he bought is an apple-green 1962 Ferrari 250 GTO made for race driver Stirling Moss, Bloomberg reported. It's one of 39 GTOs produced from 1962 to 1964.
A view of James Island, a 780-acre private island in British Columbia's Gulf Islands. Seattle tech magnate Craig McCaw has listed it for sale for $75 million Canadian (about the same in U.S. dollars).
Photo: Courtesy Mark Lester And Alan Johnson/Sotheby's International Realty / SL photo: http://www.seattlepi.com

Meanwhile, McCaw is selling James Island, in British Columbia's Gulf Islands. At 780 acres, it's the second-largest privately owned Gulf Island, featuring miles of "white-sand beaches, grassy dunes, a diverse ecology and flexibility with respect to infrastructure and building," according to the real estate listing.

The current infrastructure and buildings include an 18-hole Jack Nicklaus Signature golf course, a 5,000-square-foot owner's residence, six guest cottages, private docks, an airstrip, a pool house, a manager's residence and a "western  village."
The main house on James Island, a 780-acre private island in British Columbia's Gulf Islands.
Photo: Courtesy Mark Lester And Alan Johnson/Sotheby's International Realty / SL photo: http://www.seattlepi.com

In an email to The Wall Street Journal, McCaw said his family "adores being on the island" but is selling because they "have the perfect storm of kids' activities and no one wants to be left behind."
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