Man buys an entire skyscraper with his credit card
Published on May 16, 2023 at 11:33 AM (UTC+4)
by Alessandro Renesis
Last updated on Jun 02, 2023 at 3:25 PM (UTC+4)
Edited by
Kate Bain
A 71-year-old investor bought an entire skyscraper – yep, the whole building – with his credit card.
We want this kind of credit limit, too.
READ MORE: These expensive purchases by celebrities are outrageously extravagant
In a recent interview with Big Shot, a YouTube channel with a focus on investing and finance, Canadian billionaire Jonathan Wener told the story of ‘that one time’ he bought an entire building on a credit card.
It all started in 1975, when Wener used a $10,000 loan (around $56k in today’s money) to launch his real estate business Canderel.
The company is still active, by the way.
Through the years, Wener managed to turn that $10k investment into a multi-billion dollar business.
At one point, he decided it would make sense to buy the building where the Royal Trust Credit Card company was based.
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The ‘bill’ for the Royal Trust building, located in Montreal, came to a cool $65 million.
Wener, as you do, decided the best way to settle the bill was to use a gold credit card from Royal Trust.
This decision, according to Wener, actually gave him a two percent discount.
“I’d signed [the bill] and [asked my business adviser] to call [the bank] for authorization,” Wener told Big Shot.
Wener further explained how he got a two percent discount on his multi-million dollar purchase.
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“They sent me my bill yesterday, and I paid it, and I brought it up to date – that means I won’t get another bill for 30 days [and] that’s worth one percent,” Wener said.
So where did the other one percent come from? Well, good old cashback-style discount on his card.
“On a Gold Royal Trust credit card you get a one percent discount,” he said. “That’s $1.3 million [in total].”
Not a bad deal, is it?
And now we’re wondering if there’s a Guinness World Record for the most expensive credit card purchase ever.
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