What’s the Legend around Oak Island?
Many locals have their own theories about what lies in the underground regions of the island, ranging from pirate burials to freemason secrets. Some even believe that Francis Bacon buried original Shakespeare manuscripts there.
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Beyond treasure, many have also reported hauntings and mysteries surrounding the island, which has (seemingly) no inhabitants.
Why Is Oak Island Called Oak Island?
Oak Island is notably the sole island in the area that features a forest of red oaks. Unfortunately, most of the historic oaks that were present on the island for centuries died out due to insect infestations.
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History.com notes that the name of “Oak Island” was given to the property in early documentation dating back to the 1760s, when land parcels were being sold.
Where Is Oak Island Located?
Despite the island’s mysterious nature, it’s not located in some far-off land. It’s actually along the Atlantic coast of Nova Scotia, Canada, and is specifically found in Mahone Bay.
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The rumored treasure is allegedly located in the island’s 140 acres of forest, which are quite dense inland.
The Dig Doesn’t Come without Consequences: Exploring this Hard-To-Search Island
According to cited information from Pirates of the Atlantic: Robbery, Murder and Mayhem Off the Canadian East Coast, people have been trying to treasure hunt at this hot spot for centuries.
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Attempts have been foiled by nature each time via floods or collapse, whether the hunters were using drill bits, open-pit mining techniques, or today’s high-quality tech-driven tools.
Don’t Turn Back: Hunters Take Nature Signs as a Cue to Keep Going
Despite the instances of costly collapse and dangerous floods, treasure seekers continue to dig deeper. The book goes on to note that people believe this happens due to “elaborate engineering work.”
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The above engineering work theory continues, noting that there’s the possibility of “secret flood tunnels, multilayer platforms and hidden caverns.”
Is There Really Something Deeper?
While this could be a possibility, it may be something simpler: The presence of limestone on the island.
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Dan Conlin, author of Pirates of the Atlantic, notes that this limestone substance can lead to future sinkholes as nature takes its course — disintegrating the rock into flimsy clay and silt.
What’s Next for Rick and Marty?
Rick and Marty Lagina have continued to fund more digs on their property, continuing the hunt for the treasure of Oak Island.
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They have since documented their journeys via The Curse of Oak Island and Beyond Oak Island, which interested viewers can stream on platforms such as Discovery+.
Have Rick and Marty Found Anything Noteworthy Yet?
The duo have already been lucky enough to find a few jaw-dropping finds, which have been chronicled by History.co.uk.
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Some of the most impressive include a jewel-encrusted brooch, a centuries-old parchment (which has yet to be deciphered), and a 14th-century swage tool.
How Much of the Island Do the Lagina Brothers Own? (And Who Really Owns the Island?)
While many sources note that they do own most of the island as a whole, the brothers purchased a 50% stake in the Oak Island Tours Inc. entity — making them partial owners, along with producers of the show, private owners, and the tour company.
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They did not hunt immediately after the purchase, however. They were granted a dig license in July 2010, and they documented searches at the end of the same year.
Why Did the Lagina Brothers Go to Oak Island?
The Oak Island obsession began when Rick Lagina was 11 years old, according to History.co.uk. He found an article about the island in a Reader’s Digest piece from 1965 — and fell in love.
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Marty allegedly invested to support his brother’s dream, rather than his own self-interests.
What Is the Lagina Brothers’ Net Worth?
Per History.co.uk, Rick has multiple revenue streams — earning him an estimated $2 million net worth.
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Marty Lagina has been estimated to have a $40-$60 million net worth, which may have gone up to $100 million after the success of their Oak Island show(s).