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How rich stay rich 
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Doesn't have much of a life
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Joined: Fri Apr 24, 2009 5:12 pm
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Billionaire Mark Zuckerberg is giving new meaning to the term “the one percent.”

The Facebook Inc. (FB) founder refinanced a $5.95 million mortgage on his Palo Alto, California, home with a 30-year adjustable-rate loan starting at 1.05 percent, according to public records for the property.

Wealthy individuals often choose to finance a home purchase rather than pay cash because of the overall low cost of mortgage debt and the additional access to liquidity, Kricena said. In many cases, they invest excess cash that they would have used to purchase the home into higher-yielding assets, he said.

“Even if someone would be able to pay off that mortgage with cash or other assets, they don’t want to tie up their holdings in real estate because they may have access to other types of more attractive investments,” he said.

No conspiracy against working classes here I'm afraid...

Zuckerberg’s Loan Gives New Meaning to the 1%

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Tue Jul 17, 2012 11:00 am
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I haven't seen my friends in so long
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Interest rates are charged according to the assessed risk of default. They obviously think he's good for it.

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Tue Jul 17, 2012 12:29 pm
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What's a life?
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He obviously is now. But in 10 years time? How much is the founder of myspace worth these days?

Jon


Tue Jul 17, 2012 12:39 pm
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jonbwfc wrote:
He obviously is now. But in 10 years time? How much is the founder of myspace worth these days?

Jon


Chris DeWolfe is barely scraping by with a miserly $50million, the poor lamb.
http://www.therichest.org/celebnetworth/business/tech-millionaire/chris-dewolfe-net-worth/

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Tue Jul 17, 2012 1:28 pm
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