Beyoncé and Jay-Z have a mortgage, too—but theirs is $200,000 a month

Beyoncé and Jay-Z have a mortgage, too—but theirs is $200,000 a month

Beyoncé and Jay-Z bought a huge mansion in California last year for $88 million—which they partly financed with a $52.8-million mortgage from Goldman Sachs. Interest starts at a fixed rate of 3.4% and becomes variable in 2022. The Wall Street Journal estimated (paywall) the couple’s monthly payments at more than $200,000. The Journal points to others, such as Canadian billionaire Daryl Katz, who is paying a similar monthly amount on the $85-million place in Malibu, California he bought this year, due to his $47.5-million mortgage.
Why are they taking these huge debts on?