This Trump donor could bag US island controlled by Venezuela
What's the story
A 300-acre island in New Jersey, US, may soon change hands from a subsidiary of Venezuela's state-owned oil company to a major supporter of President Donald Trump. The island, known as Petty's Island, has been under the control of Citgo Petroleum Corp, a subsidiary of Venezuela's Petroleos de Venezuela (PDVSA). The potential ownership change comes after a recent court ruling and international developments.
Legal proceedings
Court ruling paves way for potential ownership
The court ruling in question was a federal judge's approval of Amber Energy's $5.9 billion bid to acquire PDVSA, through a sale of shares to settle debts. Amber Energy is an affiliate of Elliott Investment Management, founded by Paul Singer, a major Republican donor who has contributed millions to Trump's causes. Venezuelan officials have appealed the court decision, calling it "fraudulent."
Appeal uncertainty
Political developments complicate Venezuela's appeal
The appeal against the court ruling may be complicated by recent political events. In early January 2026, a major US military strike on Venezuela led to the arrest of President Nicolas Maduro and his wife Cilia Flores. This development has raised questions about whether Venezuela will pursue its appeal against the sale of shares in PDVSA, which would affect the control of Citgo and, by extension, Petty's Island to Singer's Elliott Management.
Island history
Petty's Island: A brief history
Petty's Island, once inhabited by Indigenous Lenni-Lenape people and owned by Pennsylvania founder William Penn, has a rich history. It was used for farming and shipbuilding until Citgo began buying land in the region in 1916. By the 1950s, it came under full ownership of Citgo, which was then a US company. The island has been visited by notable figures like Blackbeard the pirate and Benjamin Franklin but remains largely inaccessible to the public, except during scheduled programs.
Future plans
New Jersey's plans for Petty's Island
New Jersey has expressed interest in acquiring Petty's Island to turn it into an urban nature reserve with an environmental center. The island's size and scenic views make it a potential site for parks and public recreation. However, the future of this plan remains uncertain as the legal proceedings surrounding its ownership continue.