Forbes' Fiji island sold to Austrian

A tropical paradise in Fiji owned by the American publishing billionaire Forbes family has been sold to the Austrian founder of the energy drink Red Bull, Dietrich Mateschitz, the Daily Post newspaper reports.

Laucala Island, a 1214ha island complete with airstrip, guest houses and a Fijian village, was bought in 1972 by Malcolm Forbes for US$1 million. Following his death his ashes were buried on the island.

However, the family have been trying to sell the island for an asking price of US$10 million ($18 million). It is not known how much Mateschitz paid for it.