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Some People Are Still Rich: THR Profiles A-Listers Who Own Private Islands

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At this particular moment in history, when houses are being foreclosed upon left and right and the thundering gong of the recession is still ringing in our ears, we're probably not as inclined to read amusedly about who in Hollywood owns a private island.

But the Hollywood Reporter has gone ahead and answered that question nevertheless. In an aptly titled piece, "Who in Hollywood Owns a Private Island", reporter Daniel Miller lays out where the A-listers are buying up land for sport, for fun and in some cases, to generate even more ungodly levels of income.

Miller's story opens with the tale of David Copperfield, who owns 11 islands in the Bahamas. But Copperfield cautions that owning a private island isn't as magical as it's cracked up to be: Indeed, it comes with an utterly unforseen set of challenges, challenges which consist primarily of one thing -- maintenance.

But there are also the sort of everyday problems -- like a broken pipe, says Copperfield -- that can become serious headaches, requiring a plane ride just to keep the water running. This, it seems, is the reality of private-island ownership: Paradise doesn't come cheap. "Always be careful what you wish for," says Copperfield. "It's like when you see Fred Astaire dance, and you say you want to dance like Fred Astaire. It looks effortless on the outside, but there are bleeding toes and sprained ankles."

That's right! If you buy an entire island, you then have to
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keep it up. Ditto, FYI, for a mansion in the Hollywood Hills, or even a modest two-bedroom home in Irvine. In the case of a private island, such are the travails of being able to drop several million dollars on a dime and think about it later.

At any rate, Copperfield isn't alone in his 1%-er problems. Other owners of private islands, which run the gamut in price from $6 million to $500 million, include Faith Hill and Tim McGraw, David Letterman, and Johnny Depp. Each has his or her own reason for making the purchase; Letterman, for instance, likes to be able to take his kids to the beach without the bother of paparazzi, resulting in possibly the priciest beach trip ever.

And should you read this article and decide that you're now in the market for an island, you'll be happy to know you can visit first to suss it out -- Copperfield charges guests a mere $37,500 a night.