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International Business Times UK
International Business Times UK
Business
Niloy Chakrabarti

Here's Why Billionaires Like Jay-Z and Mark Zuckerberg Get Mortgages They Don't Need

Meta Platforms CEO Mark Zuckerberg reportedly secured a 30-year mortgage in 2012 at an interest rate just above 1%. However, he already had amassed a fortune of £12.63 billion ($16.9 billion) by that time.

Meanwhile, Jay-Z and Beyonce bought a £65.78 million ($88 million) mansion and took out a £39.47 million ($52.8 million) mortgage at 3.15%. While they could have paid it in full, the star couple had over £37.38 million ($50 million) in free cash to invest somewhere more profitable.

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