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Homes, Private Islands and Nearing Billionaire Status: David Copperfield

National Money
Homes, Private Islands and Nearing Billionaire Status: David Copperfield


David Copperfield is one magic trick away from becoming a billionaire.

According to Forbes, David is nearing billionaire status, having amassed an $800 million fortune. The 57-year-old entertainer also landed on this year’s Forbes’s 400 list of Ones To Watch. It includes a 15-person round-up of entrepreneurs, scions and entertainers with nine-figure fortunes to their names. To date, Oprah is the only entertainer to make it to the list, her net worth topping $2.9 billion. Other candidates include Madonna, with $500 million, pro golfer Phil Mickelson, with $325 million and country crooner Toby Keith, with $320 million.

David earns $4 million for every show, holds  a series of world tours, has appeared in 20 television specials, and owns multimillion dollar real estate properties.

MONEY FROM MAGIC

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Dubbed the world’s greatest magician, Forbes estimates a big chunk of Copperfield’s wealth comes from his magic shows. David has played a 13-year-old stint at the MGM Grand Hotel & Casino in Las Vegas, performing over 500 shows every year.  He performs three shows a day, seven days a week, 42 weeks out of the year. His annual ticket gross reaches $50 million annually.

“David’s definitely the hardest working guy in show business. People would kill to have a show like David’s in their property because of the success it has brought” shared President and COO of the MGM Grand Scott Sibella.

He also owns the largest collection of magic memorabilia in the world. Currently displayed at a 40,000-square foot warehouse near Las Vegas, the prized collection is comprised of 150,000 artifacts and books, and prized items from Jean Eugene Robert-Houdin, Harry Houdini, and Georges Melies. It is strictly open to magicians, researchers, historians, actors, family, friends and the media.  David is also the owner of International Museum & Library of the Conjuring Arts.

“It’s irreplaceable, it’s priceless. You can’t replace it, which is part of the excitement,” David said of his collection.

Copperfield holds 11 Guinness World Records, 21 Grammy awards and gains a worldwide audience of 3 billion.  His 1996 stage show Dreams and Nightmares is still number one in the record for most Broadway tickets sold in a week with $6 million. Copperfield has inked a three-year deal to get the casino’s Hollywood Theater named after him.

Some of his notable magic includes walking through the Great Wall of China, and making the Statue of Liberty disappear. He describes his latest trick as “Jurassic Park-sized.”

MUSHA CAY RESORT IN BAHAMAS

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One of the most successful self-made entertainers in history, David prides himself on his 100-acre, lamb-shank-shaped island in the Bahamas. Purchased in 2006 for $50 million, he has since purchased several more, calling the area “The Islands of Copperfield.”

The property includes 11 islands, some with magical names, five plantation-style villas, The Landings, which serves as the restaurant and guest clubhouse, a long communal table in the dining room, breakfast veranda and a game room.

The living rooms of each villa have large Balinese-style couches. High View, the largest villa, has a man-sized statue of Ganesh, the elephant-headed Hindu god respected for being the “remover of obstacles.” The communal table also has a statue of Krishna.

The food is also magical, including a barbecue by the beach, and drinks and dinner on a long, scorpion-tail sandbar way out in Copperfield Bay.

For leisure and entertainment, one can roam around the island riding a golf cart. You can also have an exciting water adventure with banana boat ride, jet skis, Hobie Cat, paddle surfing and kayaking. The villa also has 4 jet skis, a 23-foot Jet Boat, a Nautilus Rib Catamaran, Boston Whalers, and a 37-foot-long Midnight Express for snorkelling and diving excursions.

To stay in the island, one needs to pay $37, 000 per night (with a four-night minimum), good for 12 persons. If you plan to extend up to 24 persons, it would cost you $52, 500.

Moreover, 60% of the island hoppers pay for a fireworks display worth $25, 000, and three-hour treasure hunt for $20,000.

BIOGRAPHY

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Born David Seth Kotkin in 1965 at Metuchen, New Jersey, he got the name David Copperfield in 1974 when he was cast as the lead in “The Magic Man.” He showed an impressive talent in performing magic at the age of 10. At 16, he started teaching a magic course at New York University. With the passion to extend his helping hands to the needy, he founded Project Magic, a rehabilitation program that helps people who are suffering from different forms of disabilities.  It uses sleight-of-hand as a form of therapy.

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