Before World War II the island, then known as Hog Island, was the private estate of the Swedish entrepreneur Axel Wenner-Gren.
Purchase by Huntington Hartford and development as a resort
Huntington Hartford, the A&P supermarket heir, arrived on Hog Island in 1959. Hartford bought Hog Island from Axel Wenner-Gren and changed the name to Paradise Island. He hired the Palm Beach architect John Volk and built the Ocean Club, Cafe Martinique, Hurricane Hole, the Golf Course, among other island landmarks. He also acquired and installed the Cloisters, a 14th-century French Augustinian monastery originally purchased in Montréjeau and dismantled by William Randolph Hearst in the 1920s. He hired Gary Player to be the golf pro and Pancho Gonzales to be the tennis pro. His opening of Paradise Island in 1962 was covered in Newsweek and Time magazines. He hired the staff from Eden Roc at Hotel Du Cap to work off season at the Ocean Club. He had the fireworks for the opening party flown in from the South of France. He had a flag and Paradise Beach was featured on a Bahamian three-dollar notes in 1966 (introduced as a close equivalent to the Bahamian Pound, which was replaced at the rate of $1 = £7, so $3 = £21).
Development as a gambling resort
Huntington Hartford met James M. Crosby (1927–1986) through Huntington's bodyguard Sy Alter. Sy Alter met Jim Crosby at the Colony Club in Palm Beach. Huntington Hartford got the gambling license for Paradise Island and included Jim Crosby as an extra investor. Jim Crosby and Jack Davis then formed a company, Resorts International, to continue developing Paradise Island. Recognizing the business potential of the Bahamas, they were the first to establish major resort development, and often offered above-average salaries to Bahamanian employees. The two continued to develop Paradise Island. They built the bridge to Nassau and the first large-scale resorts. He
