‘Rich Dad Poor Dad’ Author Robert Kiyosaki Reveals $1.2 Billion Debt, Warns People Not to Copy Him
- Robert Kiyosaki says he has $1.2 billion in debt linked mainly to his real estate investments
- His former wife, Kim Kiyosaki, said the debt is tied to properties owned with partners, so his personal share is much smaller
- Kiyosaki believes strategic debt can build wealth but warns people not to copy his strategy without proper financial knowledge
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
“Rich Dad Poor Dad” author Robert Kiyosaki has revealed that he is associated with about $1.2 billion in debt through his extensive real estate investments, using the figure to promote his long-standing argument that debt can help build wealth.
The 79-year-old financial educator has repeatedly cited the massive debt while explaining why wealthy investors borrow money to acquire assets that generate income.
Source: UGC
Speaking on the “Get Rich Education” podcast, Kiyosaki said he was “a billion two in debt” but cautioned listeners against copying his approach without understanding how investment borrowing works.
“I studied it since 1974,” he said, stressing that anyone seeking to use debt as an investment tool should first educate themselves.
$1.2bn debt linked to property portfolio
However, Kiyosaki’s former wife and business partner, Kim Kiyosaki, has clarified that the $1.2 billion does not mean the author personally owes that amount.
According to Kim, the debt is largely connected to a property portfolio involving their business partners. She said the portfolio includes about 1,500 apartment units, meaning much of the borrowing is tied to the underlying real estate rather than Kiyosaki personally.
Vanity Fair estimated that Kiyosaki’s personal share of the debt could be between $30 million and $60 million, based on his reported annual income of about $3 million.
His investment model involves borrowing against properties after they appreciate in value and using the funds without selling the assets. Because the properties are not sold, such borrowing is generally structured as loans rather than taxable income.
Kiyosaki also reportedly places investments in separate limited liability companies, creating legal barriers between different assets if one investment encounters financial problems.
Source: UGC
Kiyosaki has built a global financial education brand around “Rich Dad Poor Dad,” which was first self-published in 1997 and has sold more than 44 million copies.
The book compares lessons from his biological father, whom he calls the “Poor Dad,” with those attributed to the father of his childhood friend, the “Rich Dad.”
Source: Legit.ng
