Archive · 12 Jan 2026
Venezuela's Petty's Island May Transfer to Trump Donor
Petty’s Island is a 300-acre island in New Jersey that has been owned by Venezuela through Citgo Petroleum Corp.
for decades.
Recently, a court approved a deal for Paul Singer’s Elliott Investment Management to take over Citgo, which could mean they also gain control of Petty’s Island.
Venezuela has appealed the sale, but with recent political changes, it's likely the deal will go through.
The island has historical significance and has been visited by famous figures like Blackbeard and Benjamin Franklin.
Public access to the island is currently limited.
Petty’s Island, a 300-acre island in New Jersey, is currently owned by Venezuela through Citgo Petroleum Corp.
A court approved a $5.9 billion bid by Paul Singer’s Elliott Investment Management to acquire Citgo, potentially giving them control of Petty’s Island.
Venezuela has appealed the sale, calling it fraudulent, but recent political developments may influence the outcome.
The island has historical significance and has been visited by notable figures like Blackbeard and Benjamin Franklin.
Public access to Petty’s Island is currently limited to scheduled programs.
- Who
- Venezuela, Paul Singer’s Elliott Investment Management, US Government
- What
- Potential transfer of ownership of Petty’s Island from Venezuela to Elliott Management
- When
- Recent international events and a court ruling in November 2025
- Where
- Petty’s Island, Delaware River, New Jersey
- Why
- To settle billions in debts and due to recent political developments in Venezuela
- Island Size
- 300 acres
- Location
- Delaware River, off Pennsauken, New Jersey
- Current Owner
- Venezuela through Citgo Petroleum Corp.
- Potential New Owner
- Paul Singer’s Elliott Investment Management
- Bid Amount
- $5.9 billion
- Historical Visitors
- Blackbeard the pirate, Benjamin Franklin
- Public Access
- Limited to scheduled programs
