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People Staff
April 29, 2008 AT 02:00 PM EDT

It’s no secret that Ricky Martin is a hard worker and has spent a great deal of time and money helping those in need. However, the 36-year-old singer also knows how to reward himself and enjoy life, and soon he’ll have an entire island to himself!

According to the Mexican newspaper El Universal, various media entities in Brazil have announced that the “Living la vida loca” singer just concluded the negotiations to buy a small island in that country, for which he allegedly paid 8 million dollars.

The reports say that Martin’s new paradise, which he had been attempting to buy for several months, is located in the Angra dos Reis archipelago, near the coast of Rio de Janeiro.

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