Although there are a lot of average people who own private islands, the ones owned by the rich and famous are a lot more fun to read about! Real Estate Web recently wrote a fun article on the topic. Here is a bit of what they had to say. It must be fun to own your own island, all that privacy and prestige and of course supermodels that suddenly want to date you. You can take long isolated walks on your own private beaches, uninvited pop-ins are rare, no one knocks on your door in the middle of the night asking for your TV licence and the only street children are yours Other well known Island owners include, Nicolas Cage who owns a 40-acre island in the Bahamas, Leonardo DiCaprio has an island off the coast of Belize, and out-of-the-closet, now father of twins, Ricky Martin snapped up a private island getaway in April 2008 for a reported $6m. This can be found just off the Angra dos Reis coast in Brazil.