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.
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.
“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.
Alessandro is an automotive journalist with 10 years of experience covering supercars, automotive history, emerging vehicle technology, and luxury transportation. He wrote the first article published on SupercarBlondie.com when the website launched in 2022 and has since built a reputation for insightful reporting across the automotive and transportation industries. His expertise is grounded in hands-on experience. Alessandro has driven every Tesla model ever produced, from the original Roadster to the Cybertruck, and regularly covers the latest developments in electric vehicles and automotive innovation. His passion for transportation extends beyond cars, he has even flown a Boeing 787 Dreamliner simulator in Addis Ababa, Ethiopia. His reporting spans everything from classic American muscle cars and rare automotive discoveries to luxury yachts, private aircraft, high-end watches, and cutting-edge vehicle technology. Known for his deep knowledge of automotive history and ability to uncover the stories behind iconic vehicles, Alessandro brings readers a blend of historical context, technical expertise, and first-hand experience.
