Rich Dad, Poor Dad author is deeply in debt, again

Discussion in 'Risk Management' started by Pekelo, Jan 3, 2024.

  1. Pekelo

    Pekelo

    He filed for bankruptcy back in 2012, and now:

    https://finance.yahoo.com/news/rich-dad-poor-dads-robert-193714809.html?guccounter=1

    The article isn't that clear about his investments, but he seems to be overleveraged. But being in 1.2 B debt, that is something... He invested in Bitcoin too, how can you go down with that?

    "He is known for his stance against fiat money, labeling it in derogatory terms and instead advocating for investment in what he calls “real assets” like Bitcoin, silver, gold and Wagyu cattle. Bitcoin, in particular, is a favorite of his, perceived as a hedge against the deteriorating value of the U.S. dollar. Kiyosaki views gold, another key component of his portfolio, as more stable and reliable than cash, which he calls “trash" because he just doesn't "trust the frickin' dollar." He has expressed a willingness to increase his gold holdings even if prices drop significantly."

    Longer discussion:

    old.reddit.com/r/wallstreetbets/comments/18x6htm/rich_dad_poor_dads_robert_kiyosaki_says_hes_12/
     
    Last edited: Jan 3, 2024
    schizo, ironchef and Nobert like this.
  2. He is going to write another book SOON, a bestseller how to leverage your investment for max. returns. :D
     
    Windlesham1, athlonmank8 and ironchef like this.
  3. maxinger

    maxinger

    Rich Dad, Poor Dad's' Robert Kiyosaki Says He's $1.2 Billion In Debt.

    If Robert Kiyosaki Goes Bust, The Bank Goes Bust. Not My Problem

    Another book, please.

     
  4. newwurldmn

    newwurldmn

    No way this is true.
    No bank is going to lend him 1 B to buy bitcoin and gold. And no bank would do so without liens on his Ferrari and rolls (meaning they aren’t paid for)
     
    TrailerParkTed likes this.
  5. TheMordy

    TheMordy

    1) He never was so much into BTC, since it's over $10K he hasn't claimed much that he bought.

    2) Probably one of his LLC's is not worth keeping up with current interest rates, so he choose to declare bankruptcy of one oh his LLC's...

    3) Yahoo editors are BS...
     
    athlonmank8 and Pekelo like this.
  6. destriero

    destriero


    Fiction. 1.2 collateralized by what?
     
    TrailerParkTed likes this.
  7. Good Morning Pekelo,

    Another classic example of reading books on how to get rich quick is a scam and waste of time.

    If someone seriously wants to get rich, just sell stuff to people on how to get rich and then you will be rich.

    "Selling lies is the GURANTEED way to get rich, quick" SimpleMeLike.
     
    Money Trust likes this.
  8. newwurldmn

    newwurldmn

    bitcoin and gold. Because banks are in the business in risking their entire deposit base so some douchebag can speculate on gold. (Actually….)
     
  9. Robert Kiyosaki should be judged by the company he keeps:



    There are entrepreneurs, and then there are entremanures.
     
    SunTrader, semperfrosty and Nobert like this.
  10. Nobert

    Nobert

    He had/has a podcast, where every 30 secs he would remind that fiat is done and gold/BTC is the way to go and how ,, they '' are out there to get you.
     
    Last edited: Jan 3, 2024
    #10     Jan 3, 2024
    murray t turtle likes this.