Rich Dad Poor Dad Now A Bankrupt Dad| Robert Kiyosaki Files for a Corporate Bankruptcy
Are you a great fan of Robert Kiyosaki?
If yes, you must have read the book called “Rich Dad Poor Dad”.
This book is about how Robert Kiyosaki, Best-selling author, financial guru and lecturer, gain his financial education since he was young.
He claimed to have two ‘dads’ – one his real dad, who was poor, and the other, his best friend’s dad, in the book.
Robert Kiyosaki wrote this book in 1994 and hit the New York Times bestseller after it has sold over 25 million copies .
Later he wrote more than 10 books with similar cover layout but on different financial education topics and co-writing with other authors i.e Donald Trump etc. His financial self-help book has been a world phenomena and make him so famous. On top of that, he also spin-off many other related products which including software, games, and audio books etc.
I have a copy of that book and it has great influence in my financial education.
Kiyosaki introduce the concept of the CASHFLOW Quadrant which consist of:
E: Employee — Working for someone else.
S: Self-employed or Small business owner — Where a person owns his own job and is his own boss.
B: Business owner — A person who owns a business to make money; typically where the owner’s physical presence is not required.
I: Investor — Investing money in order to receive a larger income in the future.
However, Rich Dad(Robert Kiyosaki) isn’t so rich anymore today!
It was reported that Kiyosaki’s Rich Global LLC(one of Robert Kiyosaki’s companies), has filed for corporate bankruptcy after losing a $24 million court judgement to the Learning Annex and its founder and chairman, Bill Zanker.
You may learn more about Bill Zanker and the Learning Annex by reading the book, Think BIG and Kick Ass in Business and Life, written by Donald Trump and Bill Zanker. This book is a MUST read for those who wish to attain their Financial Freedom faster.
But WHY Robert Kiyosaki who reported to have estimated net worth more than $78 million filed for a corporate bankruptcy?
Remember this a Corporate Bankruptcy and NOT a Personal Bankruptcy!
According to Mike Sullivan, CEO of Rich Dad Co, the judgment won’t be paid out of personal assets for Kiyosaki and his wife.
Robert Kiyosaki don’t run his business using Rich Global LLC as it has not been in business for a number of years. He run most of his business in another company called Rich Dad Co.
Sulivan told the reporters that Rich Global LLC has only a few million in its coffers
I think is a very smart and clever, strategic business move.
Therefore, Robert Kiyosaki’s assets are still safe and well protected as corporation(Rich Global LLC ) has limited liability. You may called it loophole or whatever. However this is one of the way how the Rich get even Richer!
Anyway, I don’t think that Rich Dad even exist. It’s merely an imaginary character to stress his financial education. He has master the art to impart knowledge via story telling.
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Robert Kiyosaki on Oprah
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Robert Kiyosaki | Donald Trump – The Keys To Success As An Entrepreneur
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Robert Kiyosaki & Donald Trump Talk About Pressure & the keys to success as an entrepreneur.
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Robert Kiyosaki – New Rules of Money: Conventional Education Vs. Financial Literacy
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Robert Kiyosaki at National Achievers 2011 Congress Hotel
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This is just the start of an amazing 3 hours with Robert Kyosaki … Rich Dad Poor Dad, financial education – poverty is a way of mind- change your mindset -change your financial situation! Financial education on how to NOT lose your money! It is a choice!
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TIME Magazine Interviews: Robert Kiyosaki
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How Robert Kiyosaki is to be in bankruptcy would have no impact or influece that we would become bankruptcy sooner or later, same with the meaning of Robert Kiyosaki is rich doesnot mean we all gonna be rich after joining whatever event he holds.
While we keep on what others people business is exactly what are ours, it would be the same as, he or she is rich is equivalent that we also might be in the category of rich?
From here I would probably guess it is the term “Sdn Bhd” with the limited liabilities that protected each investor inside the company, only loss what initial plan to invest.