King shared a photo on Instagram on Tuesday of the duo partying on the Mediterranean island – and from the looks of it, anyone who wasn't there missed out big-time.
The pair are pictured enjoying the night with the likes of Disney CEO Bob Iger, musician Will.I.Am and the co-founder of Interscope records, Jimmy Iovine.
"They say it's better in Ibiza! Disney big cheese @bobiger his lovely wife @willow_bay @iamwill take in teeny pink hats, umm limber dancers & @oprah leads @jimmyiovine in tequila shots! Good times good friends," King captioned the photo collage.
King shared another photo featuring Oprah and Iovine at a private screening of Straight Outta Compton.
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"Special screening of "straight outta Compton" w/@jimmylovine who REALLY knows the story breaking IT DOWN for @oprah straight from the Mediterranean."
As if that wasn't enough to make anyone jealous, the friends were spotted together last week on a luxury yacht with Iger and Princess Beatrice, who was celebrating her 27th birthday.