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Do You Still Need to Learn from Rich Dad? He Is $1.2 Billion in Debt
September 2 — Citing the New York Post, reports say that Robert Kiyosaki, author of Rich Dad Poor Dad, recently revealed in an interview that he is carrying $1.2 billion in debt, quickly attracting market attention.
However, this approximately $1.2 billion in debt actually comes from mortgage loans secured by apartment buildings, rather than from his long-promoted investments in Bitcoin and gold.
Kiyosaki’s ex-wife and business partner further clarified that this debt consists of loans jointly assumed with business partners and involves approximately 1,500 apartment units. Kiyosaki’s actual personal financial exposure is far lower than the headline figure suggests.
It is worth noting that although Kiyosaki has repeatedly promoted holding gold and Bitcoin as tools for combating inflation, these digital asset holdings have not been used as collateral for any loans.
In fact, although Kiyosaki strongly promotes Bitcoin, the actual collateral consists of physical real estate and rental income. This also reflects the fact that Bitcoin still cannot be as widely accepted as real estate as collateral within the traditional financial system.
However, some critics point out that although this highly leveraged operating model can amplify returns during a market upswing, it can also generate massive losses once the rise in property prices comes to an end. This risk is particularly worthy of attention in the current economic environment.
Ironically, Kiyosaki once publicly warned that cheap credit would destroy the financial system, yet his own investment portfolio relies heavily on credit to maintain its operations. This disconnect between his statements and practices has also caused market observers to question his investment advice.
In fact, Kiyosaki already has a history of bankruptcy. A company under his control filed for bankruptcy protection in 2012 after losing a lawsuit. This experience shows that even authorities in the field of financial education do not always make flawless personal investment decisions. $BTC
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