US Tycoon and Italian Millionaire Buy Island in Greece

Agios Thomas of the Diapories island complex.

American tycoon Warren Buffet and Italian millionaire Alessandro Proto, have reportedly purchased the island of Agios Thomas, located in the gulf of Egina in Greece.

American tycoon Warren Buffet.

According to an announcement by London-based real estate consulting firm Proto Organization, the acquisition was concluded last Thursday for a total price of 15 million euros.

Warren Buffett and Alessandro Proto are reportedly going to proceed with a real estate development on the island, which covers an area of 1.2 sq km.

For Alessandro Proto, a shareholder of the New York Times along with Carlos Slim, this is the third largest real estate transaction with Warren Buffet.

“There are many opportunities in Greece at the moment and many people are ready to invest”, Mr. Buffet stated.

The island of Agios Thomas is located directly across from Egina and is part of the Diapories island complex. The islands of the complex can be accessed only by private sea transport.