Paris Hilton's Mortgage Move: Why Billionaires Borrow

Paris Hilton and Carter Reums decision to take out a mortgage on their Beverly Hills mansion, despite their significant wealth, is a common strategy among celebrities like Beyoncé, Jay-Z, Elon Musk, and Mark Zuckerberg. This move, known as keeping cash liquid, allows them to invest in potentially higher-yielding opportunities, such as stocks or business ventures, rather than tying up money in real estate.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.