From Venezuela to a Trump donor? Paul Singer’s hedge fund poised to gain control of New Jersey’s Petty’s Island

New Jersey has long wanted Petty’s Island, a little known 300-acre island in the Delaware River off Pennsauken, which comes with a grand vista of Philadelphia. The island's size and its scenic views have made it attractive as a possible location for parks, open green areas, and public recreation.

The Petty's island, however, has for decades been controlled by the South American nation Venezuela through Citgo Petroleum Corp., an arm of the country's national oil company.

This ownership may soon change hands as recent international events and a court ruling now appear to have cleared the way for investor and conservative donor Paul Singer’s Elliott Investment Management to take over the island, the Philadelphia Inquirer reported.

Meanwhile, the United States carried out a large-scale military strike on Venezuela in early January 2026, during which President Nicolas Maduro and his wife, Cilia Flores, were captured and taken into US custody, according to multiple reports.

However Venezuelan officials pushed back by denouncing the sale as “fraudulent” and appealed the court decision.

In light of the recent political developments, it remains unclear whether Venezuela will continue with an appeal. With President Trump claiming that the US is now running the oil-rich country, it is most likely that Singer and Amber will soon close the deal to take ownership of Citgo, and by extension, Petty’s Island as well, the report said.

Amber Energy spokesperson Braden Reddall told the Inquirer the “transaction involving Citgo has not yet been completed,” without revealing any further details about the deal.

This information puts Singer in a top 10 list of donors, alongside other influential figures such as Elon Musk, Timothy Melon, and Jeffrey Yass.

Singer and his company have collectively contributed tens of millions of dollars to run conservative political campaigns or groups, including Donald Trump’s 2024 presidential run.

The island was named after 18th century Philadelphia trader John Petty, and had been used for farming and shipbuilding until Citgo, which was an American company back then, began purchasing land in the region starting 1916. By the 1950s, it managed to own the entire island. Decades later, Venezuela’s PDVSA acquired ownership of Citgo during the 1980s era.

The island has been visited by popular names, including Blackbeard the pirate and Benjamin Franklin. However, public access to the island remains limited to scheduled programs.

According to the news report, New Jersey intends to turn acquire the island and turn it into an urban nature reserve with an environmental center.