Athina Onassis, the granddaughter of shipping magnate Aristotle, has released a statement confirming that she is not putting her Skorpios island up for sale.
In it she says is "very hurt" by recent reports which claimed the 24-year-old heiress was no longer willing to pay the annual upkeep of 1.5 million euros for the island.
Located in the Ionian Sea, the Mediterranean paradise is where Athina's grandfather married John F Kennedy's widow Jackie in 1968.
The island is currently empty of inhabitants and visitors are not allowed, with guards watching its shores to prevent trespassing.
When reports emerged that the island was available with a 100 million euro price tag, Microsoft founder Bill Gates, Madonna and billionaire Roman Abramovich were all said to have shown an interest.
"Athina is very hurt over the news that she wanted to sell Skorpios island," says a statement released through the Greek consulate in Brazil, where she currently lives with her showjumper husband Doda.
The communiqué continues adding that the island holds great sentimental value to Athina.