Robert Toru Kiyosaki (born April 8, 1947) is an American businessman and author known for the Rich Dad Poor Dad personal finance series. He founded the Rich Dad Company, providing financial education through books and videos, and Rich Global LLC, which filed for bankruptcy in 2012.
Since 2010, Kiyosaki has faced a class action lawsuit from seminar attendees and has been featured in investigative documentaries by CBC and WTAE-TV, raising scrutiny over his financial education practices.
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Robert Kiyosaki Net Worth
Robert Kiyosaki has a net worth of $100 million. In 2012, his company, Rich Global LLC, filed for bankruptcy following several class-action lawsuits from seminar attendees who felt scammed. Additionally, the company faced lawsuits over royalty disputes.
The court’s rulings left the company financially vulnerable, prompting Kiyosaki to declare bankruptcy. He was ultimately ordered to pay nearly $24 million to The Learning Annex and its founder, significantly impacting his financial standing.
Early Life
Robert Kiyosaki was born in Hilo, Hawaii, to a Japanese-American family. His father, Ralph H. Kiyosaki, was an academic, and his mother was a nurse. After training in the Merchant Marine, he worked at Standard Oil Company, gaining experience in emerging markets.
Kiyosaki served as a Navy officer and helicopter pilot during the Vietnam War, studying troop leadership. In 1977, he worked at Xerox to learn about sales. He is married to Kim Kiyosaki, and they have resided in Phoenix, Arizona, since 1994.
Career
In 1977, Robert Kiyosaki founded “Rippers,” a company marketing nylon and Velcro wallets, but it eventually went bankrupt. He later worked as a sales associate for Xerox until 1978. Kiyosaki published his first book, If You Want to Be Rich and Happy, Don’t Go to School, in 1993, advising against college.
In 1997, he launched Cashflow Technologies, Inc., creating educational games on finance. Kiyosaki operates several companies, including Rich Dad LLC, but faced bankruptcy in 2012 with Rich Global LLC, owing nearly $24 million.
Personal life
Robert Kiyosaki married Kimberly “Kim” Kiyosaki (née Meyer) in 1986, but the couple amicably divorced in 2017. His net worth is estimated at around $100 million, primarily from his investments and the “Rich Dad Poor Dad” brand. Interestingly, when asked about his financial status, Kiyosaki claimed to be over $1 billion in debt.
Business and financial advice
Robert Kiyosaki has written over 26 books, including the bestselling Rich Dad Poor Dad, which has sold over 41 million copies and is translated into 51 languages. He describes his books as a promotion for his higher-priced seminars.
Kiyosaki teaches that financial independence comes from passive income rather than traditional jobs or education. He advocates for using “good debt” to acquire financial assets like real estate and strongly supports investing in gold and silver, referring to them as “God’s money.”
Conclusion
Robert Kiyosaki’s journey from Vietnam’s battlegrounds to the world of high-stakes entrepreneurship is nothing short of inspiring. His story, while marred by controversies, is a testament to resilience, continuous learning, and the ability to adapt to changing tides.
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FAQ about Robert Kiyosaki
- Who is Kiyosaki’s “Rich Dad”?
- The “Rich Dad” is a fictional character used as a mentor figure in Kiyosaki’s books.
- How did Kiyosaki make his fortune?
- Primarily through his educational businesses, book sales, and seminars under the “Rich Dad” brand.
- What was Kiyosaki’s first business?
- His first venture was selling nylon/velcro wallets.
- How many books has Kiyosaki written?
- He has authored 26 books which have sold over 41 million copies globally.
- Why did Robert Kiyosaki’s company go bankrupt?
- Rich Global LLC went bankrupt in 2012 following a series of class-action lawsuits and royalty disputes.
