Someone explain to me why Mark Zuckerberg refinanced his home.
Ok, he financed the purchase of a home that represents less than 0.03% of his net worth. i understand the concept of opportunity cost and the tax incentives of a mortage, its like me taking out a 30 year loan to buy chewing gum. ok whatever… but im abit suprised by the point of a refinance.
it appears he reduced his monthly payments by something like $500,… thats like me finding a 1/10 of a penny in the laundry once a year… roll eyes
if he is really trying to be a cash flow nazi, why not try to haggle the price when he bought Instagram, he paid 1B right… i’m thinking those guys would have accepted 995,999,999
TLDR - worth >$15,000,000,000 and is financing “office supplies”
He probably has an industrious personal assistant who did this for him. I don’t think someone like Zuckerberg personally takes care of bills, laundry, car maintenance, etc.
I know a couple of EAs in the industry and they basically run their lives. She pays her bills and even will go to her house to meet movers if she is getting new furniture, etc.
Zuckerberg is too busy “hacking” and writing code anyway. Sheryl Sandberg runs facebook.
Actually… this explanation is very plausible. I didn’t know MS did individual mortgages. I guess if you spend $8 million on a house, you’re in a different market category.
Very true, I’ve had the pleasure of reviewing a few of these mortgages. Kinda interesting because you can use investments, fine art, and private aircraft as collateral on a mortgage.