Broadcast billionaire Ted Turner was once something of a revolutionary in the world of television, having founded the Cable News Network and therefore starting the trend for the availability of 24-hour news on television. TBS and TNT are also channels which fall under Turner's purview. He's still very rich, but lost a lot of money pursuing an unlikely and unwise professional wrestling territory war, with the Turner-owned World Championship Wrestling going head to head with Vince McMahon's World Wrestling Entertainment.
We don't know if losing that battle is what persuaded Turner to sell St. Phillips Island in South Carolina, but we do know he got less than he wanted for it. He initially listed it for $24m in 2014, but eventually sold it back to the state of South Carolina for $4.9m last year. Turner's old vacation residence is still on the property, but we're not sure how much he enjoyed it, given that the island doesn't have its own water or electricity.