Prudence or is he not as rich as is made out?
Normally Billionaires have multi-billions in debt.
“In addition to getting married and taking his company public, the Facebook CEO capped off a busy summer by refinancing the mortgage on his house, Bloomberg reported Monday. The Palo Alto, Calif., home three miles from Facebook headquarters cost $5.95 million, and Mr. Zuckerberg financed it with a 30-year adjustable mortgage loan, with a rate of 1.05 percent, less than half the national average.
At 28, Zuckerberg is the world’s 40th -wealthiest person, worth an estimated $15.6 billion. If he wanted, he could buy a dozen $6 million homes, in cash, without batting an eye. So why get a mortgage?
Because it costs him absolutely nothing. “When you can borrow at an interest rate that’s below the rate of inflation you’re essentially borrowing for free,” says Greg McBride, senior analyst at Bankrate.com. a Florida-based firm that tracks interest rates on mortgages, auto loans, and credit cards, among others. “When you can borrow for free, there’s no sense in tying up your own money, when you can use that money for more profitable things.”
To put Zuckerberg’s low rate into perspective, the average interest rate for a 30-year jumbo mortgage that can adjust after one year is 2.76 percent, according to Bankrate.com. A 30-year fixed-rate mortgage hit 3.56 percent Monday – another record in a summer of record lows, and the lowest level since the start of long-term mortgages in the 1950s, according to the Associated Press.
Ramanisblog 
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