See Richard Branson’s luxurious new island home

You could say billionaire Sir Richard Branson was just making the best of a bad situation with the just-finished remodel of his home on a private Caribbean island.

Branson’s home on Necker Island was already a playground for the rich and famous when it caught on fire two years ago — one of his houseguests, actress Kate Winslet, famously rescued his 90-year-old mother. The flames destroyed much of the island’s main building, the Great House, leading to the complete overhaul.

The Great House is the latest level of luxury for the wide-ranging entrepreneur whose enterprises have included everything from a record label to mobile phones to space tourism. Designers stuck with the house’s original Balinese feel, using wood and stone accents, thatched roofs and tropical textiles, but amped up the wow factor.

The island comes with a staff of about 60 including a personal chef, and the private sandy beaches and the infinity pool’s swim-up bar are reportedly a big hit with guests.

The 1,500 square-foot master bedroom features panoramic views, a two-person Jacuzzi, a stand-alone outdoor bath and a kitchenette area where the fridge is always fully stocked, presumably with the champagne Branson likes to keep around.

Branson is known for both his business acumen and his love of a good time (he has dressed up as a flight attendant and issues a line of ice cubes shaped like his own head for use on Virgin Atlantic flights). His hobbies include hot-air ballooning and sailing.

Branson bought the 74-acre island in the British Virgin Islands when he was only 28. Although it was a relative bargain at about $250,000, he would eventually invest millions into making it his dream retreat. “Necker Island has been my home for more than 30 years and for me it is the most beautiful place in the world,” Branson said today in a release announcing the end of the remodel. “The brand new Great House is the heart of the island and I’m thrilled with the results.”

When Branson and his friends aren’t at the house, it’s available for rent as a Virgin Limited Edition Retreat, one of a handful of luxury rental properties that range from a private game reserve in Africa to a rooftop restaurant in London.

You don’t have to be famous to stay at Necker Island, but it does help to be rich: Virgin Limited Edition rents it out for $60,000 per day. At least it has space for 30 adults and six children, so guests can ease the pain by splitting the bill.