Private Islands: The Perks (and Problems)

6:00 AM PDT 7/24/2012 by Daniel Miller

Forget the 1 percent. The .001 percent, from DiCaprio to Depp, are creating a new standard of vacation home as sales of individual isles explode.

Don't get him wrong -- David Copperfield loves his private island.In 2006, the illusionist paid
$50 million for 11 Bahamian islands, including Musha Cay, where he spends about 10 weeks a year at a compound he built there. There's an outdoor movie theater, a 10,000-square-foot main house and a nearly 2-kilometer sandbar that can be explored (or used for alfresco dining) during low tide.