Indonesia’s Sumba location has gone from being an unknown little island in the Pacific to now being home to one of the world’s highest ranked vacation hotels. The man who invested in this vacation island is Chris Burch, a billionaire serial entrepreneur who’s bought ownership stakes in several 5-star hotels and this is his largest purchase to date. Burch has had some of the world’s top designers and contractors build luxuriously designed villas and around the property you can find outdoor massage locations, warm therapeutic pools, and trails that take you to beautiful nature spots. Burch also decided to build a home at this remote island that has a glass pool outside with an incredible ocean view, and the inside has some of the most opulent furnishings. Burch became a billionaire in 2012 according to Forbes, but it was over 40 years of work that brought him to that point.
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Chris Burch started out running a small business that he started while he was a college student. He would buy sweaters from a factory and sell them at the dormitories as well as to local retail merchants. Burch started making enough profits from the business that by the time he graduated he was running it full-time and named the company Eagle Eye Apparel. He turned out $140 million in sales and opened over 50 locations before eventually selling it for $60 million. From owning Eagle Eye Apparel, Burch started buying shares in equity firms and internet investment groups like Guggenheim Partners and the Internet Capital Group. He helped open a brand new fashion brand along with his then wife Tory Burch and had the company given her name. In 2008, he went all in on venture capital funding when he started Burch Creative Capital.
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Around the same time that he partnered in the launch of Tory Burch, Chris Burch also joined alan Faena to build the Faena Hotel + Universe, a former grain storage facility in Buenos Aires that’s become one of Argentina’s top 5-star resorts. The Faena Group was a longtime partner of Burch Creative Capital but they’ve since exited the firm’s portfolio. Burch started buying and flipping properties in 2005 starting with a $14 million home in Southampton, NY and buying up other town homes and rental properties in Nantucket, MA (architecturaldigest.com). Nihiwatu Resort was purchased for $30 million in 2013, and Burch was also formerly the co-op board president for the Pierre Hotel.
Additional article on releasefact.com.