Robert Kiyosaki actively maintains social media, offering people a formula for achieving wealth. In his posts, he often asserts that the US dollar is fictitious, while gold, silver, and Bitcoin represent the path to prosperity.
However, it has become known that the author of the famous book 'Rich Dad Poor Dad' gives advice on how to get rich while himself being in a state of significant debt. According to one report, he carries a debt of $1.2 billion.
The report, published by the New York Post, revealed that 79-year-old Robert Kiyosaki found himself in a debt trap due to his extensive real estate investments worldwide. He accumulated a debt of $1.2 billion, equivalent to over 10,000 crore rupees.
Despite this enormous debt, Kiyosaki shows no remorse. In his podcast 'Get Rich Education,' he openly states that he is a debtor. He justifies this by saying that borrowing funds to acquire income-generating real estate assets is a strategy used by wealthy people.
Kiyosaki also advised podcast listeners not to do what he does. He noted that he has been studying this topic since 1974, and if someone wants to learn how to use debt, they should better receive appropriate education.
His ex-wife and business partner from 'Rich Dad Poor Dad,' Kim Kiyosaki, commented on this large debt. She told Vanity Fair that the $1.2 billion figure was misinterpreted and that it is not Kiyosaki's personal debt.
According to her, they jointly own numerous apartment buildings totaling about 1,500 units. Kim clarified that 'technically, yes, this large debt is on us, but it is related to real estate, and Kiyosaki's share is small; this huge volume of debt is only part of Kiyosaki's investment strategy.'
Kiyosaki gained fame through his book 'Rich Dad Poor Dad,' published in 1997. This book became a bestseller, selling over 44 million copies. In it, he discusses how to transition from poverty to wealth. He regularly shares wealth advice on social media platforms like Twitter (now X), referencing ideas from his book.
According to the New York Post report, Kiyosaki's entire scheme is as follows: he takes out large loans from banks to purchase real estate assets. When the value of these assets increases, he uses the high price to secure new loans. This allows him to profit because bank loans are not considered income, and he uses these funds as tax-free cash flows.