"Considering Paris Hilton is worth an estimated $300 million to $400 million, it might seem odd she reportedly took out a mortgage on her recent home purchase. Hilton, whose vast wealth comes from 19 product lines, real estate, media and entertainment, brand partnerships, and her reality show The Simple Life, recently bought actor Mark Wahlberg's former estate in Beverly Hills for a whopping $63 million."
"But what wasn't reported at the time was that Hilton and her entrepreneur husband, Carter Reum, reportedly took out a mortgage on the home, which might seem like an unusual move for the 44-year-old hotel heiress. And what's seemingly even more strange is they reportedly took out the loan after they had already bought the 12-bed, 20-bath home, which shows a $43.75 million mortgage with JPMorgan Chase at an interest rate of 5.25%."
Paris Hilton and husband Carter Reum reportedly financed their $63 million Beverly Hills mansion with a $43.75 million mortgage from JPMorgan Chase at a 5.25% interest rate after purchase. Hilton's estimated net worth ranges from $300 million to $400 million and includes revenue from 19 product lines, real estate, media, brand partnerships, and her reality show. Real-estate experts say wealthy buyers commonly use mortgages to retain liquidity and pursue higher-yield investments. Public records show other wealthy celebrities have financed homes, and experts advise understanding the financing principle rather than mimicking exact strategies.
Read at Fortune
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