Rewriting:
“How Robert Kiyosaki Built His Billion Dollar Empire Despite Having Over a Billion in Debt”
Robert Kiyosaki, author of the best-selling “Rich Dad, Poor Dad”, surprisingly admits to having over $1 billion in debt — and he isn’t worried about it. In an Instagram reel on November 30th, the experienced entrepreneur and financial guru said, “If I go bust, the bank goes bust. Not my problem.”
Why? Kiyosaki explains that the debt has been put towards purchasing assets, which is a far better use of debt than buying liabilities such as fancy cars. This speaks to his commitment to using cash income to invest in items such as gold or silver, which will keep their value even when the U.S. dollar fluctuates. Kiyosaki calls the dollar “toilet paper”.
A Familiar Preaching
The strategy of “good debt”, which is used to invest in beneficial assets, is the cornerstone of Kiyosaki’s books and teachings. On the other hand, “bad debt” — used to pay for liabilities — is the wrong type of debt. This idea is also mentioned on Kiyosaki’s website, which notes that it’s smarter to buy items that will put money back in your pocket rather than costing you each month.
The man behind the Ideas
It’s easy to see why Kiyosaki’s books, including “Rich Dad, Poor Dad”, are still in high demand — they challenge the notion that wealth depends solely on salary and instead emphasize the importance of entrepreneurship, calculated risk-taking and passive income from investments. All his books combined have sold over 40 million copies.
However, Kiyosaki isn’t without his detractors. His company, Rich Global LLC, filed for bankruptcy in 2012. There have also been criticisms claiming that his seminars fail to deliver the promised wealth building tips. Moreover, since his 2020 tweet about Black Lives Matter, there have been calls to boycott his books.
So, even though Kiyosaki is currently sitting on over a billion in debt, it doesn’t take away from his impact as a personal-finance author and guru. As he said in an interview in August, “Most people use debt to get poor. I was taught to use debt to get rich.”
“How Robert Kiyosaki Built His Billion Dollar Empire Despite Having Over a Billion in Debt”
Despite having over a billion in debt, Robert Kiyosaki — author of the best-selling “Rich Dad, Poor Dad” — has managed to build an impressive billion dollar empire. In a Nov. 30 Instagram reel, the personal-finance guru admitted that he owes the bank billions. But instead of viewing it as a problem, Kiyosaki understands the value of “good debt”, which is used to purchase assets and could end up putting money in his pocket.
The Strategy Behind Good Debt
Kiyosaki’s books and teachings focus on using cash income to invest in assets rather than liabilities. On his website, Kiyosaki explains that it’s smarter to buy items that will put money back in your pocket rather than costs you each month. During an August interview, he said, “I was taught to use debt to get rich. Most people use debt to get poor.”
The Impact of an Icon
It’s not hard to understand why Kiyosaki is one of the country’s most renowned personal-finance personalities. His books, including “Rich Dad, Poor Dad”, have sold over 40 million copies, while his seminars have sparked debates. His views challenge the idea that a high income is the only path to wealth, and instead advocate for entrepreneurship, calculated risk taking and passive income earned from investments.
Of course, Kiyosaki’s company, Rich Global LLC, incurred a public controversy when it filed for bankruptcy in 2012. There were also criticisms of his twitter commentary and demands for a boycott of his books. Despite this, it’s clear that Kiyosaki went from debt to building a billion dollar empire through hard work and smart investing.