The problem is, if you can't lift 100lbs as is, using a magnet that can lift 100lbs isn't going to make a 100lb item any lighter than 100lbs. In fact, it would actually be heavier, coming in at 101.25lbs as this magnet gadget weighs 1.25lbs. Blasphemy!
I tried to use one of these as a handle for a mini fridge a while ago. It didn't work well. The handle kept coming off the door. That probably wasn't what its intended purpose was, but anyway, take that for what it's worth.
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Thank you!