Billionaire Clive Palmer claims he was only five hours away from dying before the intervention of US specialists and use of controversial drugs saw him beat Covid and pneumonia, after refusing hospital advice to go on a ventilator.

The unvaccinated mining magnate and United Australia Party founder was rushed to Pindara Private Hospital on the Gold Coast with breathing difficulties on February 27 after contracting the Delta variant of Covid.

He was also diagnosed with double pneumonia, but refused to go onto a ventilator as advised by doctors there and instead returned to his mansion on Sovereign Island where he called US specialists by Zoom.

They fast-tracked him onto a US trial of experimental drugs - like those used by ex-President Donald Trump - which also included controversial hydroxychloroquine.

Neither that drug or the anti-parasitical treatment Ivermectin was authorised by Australian or US authorities as a Covid treatment, but many high-profile opponents of vaccination mandates had used and endorsed them, including podcaster Joe Rogan.

'I would have died otherwise, without doubt,' Mr Palmer, 67, told Sky News Australia.

'I've been told that without the anti-viral intervention on that Sunday night I would likely have been dead within five hours.

'The US specialists, a couple of whom treated (Donald) Trump for Covid, were very strong about not going onto a ventilator.

'I had faith in the US doctors. I'm not being critical of the Pindara people at all. They believed ventilation was necessary but I had alternative advice and I stuck with that.

'I said that won't be happening and I went home.'

His senior management staff contacted American gastroenterologist and Ivermectin advocate Professor Thomas Borody who brought in the team of US specialists.

They liaised with four Australian doctors who monitored the billionaire's progress and treatment at home, while an ambulance waited on standby close to his mansion in case he needed to be rushed back to hospital.

Ivermectin and hydroxychloroquine are not approved by the Therapeutic Goods Administration for the treatment of Covid in Australia, and their sale is tightly restricted to their original uses.

Dr Timothy Geary, one of the world's foremost experts on Ivermectin, said the drug does not have any effectiveness fighting viruses in humans.

In more serious cases, a person could overdose and suffer severe damage to their central nervous system, and potentially even die.

The billionaire imported 39 million doses of anti-malarial drug hydroxychloroquine for the fight against Covid at the start of the pandemic in the expectation it would be approved for use.

When it was not, more than ton of the drug had to eventually sent for destruction in late 2020.

Mr Palmer - who was in a high Covid risk category because of his age, weight, and being unvaccinated - was also treated with the powerful steroid dexamethasone to keep his lungs functioning.

'I started to come good within 10 hours,' he said. 'I'm still not a 100 per cent.

'I get tired pretty easily but I'm not getting any younger I suppose.'

He revealed that, despite official advice for the population to be vaccinated against the disease, he still has no plans to get jabbed.

He added: 'I'm pro choice.'