Wealthy people love debt. Unlike the poor people who just want to get out of debt as fast as possible, the wealthy are looking for more ways to increase their debt. In school I was taught that there are two types of debt the good debt and the
bad debts.
Wealthy people are in the good type debt. Good debt is money borrowed to invest in a business like real estate , restaurants, or property whose value will bring in more money than the debt. However bad debt is there borrowed to buy liabilities. This is where the wealthy are smart. Their debts are the good kind of debt that increases their wealth despite being in debts.
As my economics professor would say, Using someone else's money (debt) to increase your own wealth is a skill the wealthy have mastered.
Wealthy people do not fear debt instead they see debt as a means to get more money. Some poor people understand the concept of debt but are afraid to take one since they do not have collateral or a big business that can provide back such money they borrow if things go wrong in the investment or business. Another point is that the bank grant loans to wealthy people believing they are capable of paying the debt while they refuse to loan the poor because they have nothing. There are benefits that comes to an individual when he is rich that he didn't work for.