I don't want to pollute the thread (even more), but it really doesn't have anything to do with investment performance. High net worth people usually don't pay cash because most of their wealth is usually tied up in businesses or investments that are not liquid. If you sell some assets to cover an expense there are taxes to pay.
It's actually cheaper to get a loan and pay it off over time than it is to pay cash because of the tax code.
It's actually cheaper to get a loan and pay it off over time than it is to pay cash because of the tax code.