True, from a financial standpoint, but Lord Dampnut’s ego demands that he be a Billionaire, dammit. He couldn’t bear the shame of being seen as anything less, much less being deeply in debt.
Then, of course, there are the questions of who he is in debt to.
Pretty sure he owns the place free & clear, but overall you’ve described the way he does business.
OP’s money is always primary, which is why his grifts are numerous & relentless.
Greedy bastard. I look forward to paying a visit to his tomb. 
