Rich ‘Dad,’ bankrupt Dad

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stratton
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Rich ‘Dad,’ bankrupt Dad

Post by stratton »

Rich ‘Dad,’ bankrupt Dad
After a long, lucrative career writing financial self-help books and giving seminars, “Rich Dad Poor Dad” author Robert Kiyosaki has filed for bankruptcy for one of his companies after losing a $24 million court judgment.

Kiyosaki’s Rich Global LLC filed for bankruptcy after being ordered to pay nearly $24 million to the Learning Annex and its founder and chairman, Bill Zanker.
Otherwise he's doing quite well
Mike Sullivan, CEO of Kiyosaki’s Rich Dad Co., told us that Kiyosaki, said to be worth $80 million, was still doing very well thanks to investments in other companies:
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HardKnocker
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Re: Rich ‘Dad,’ bankrupt Dad

Post by HardKnocker »

One of Donald Trump's companies also went bankrupt.

Having winners and losers is part of the game of business.
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abuss368
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Re: Rich ‘Dad,’ bankrupt Dad

Post by abuss368 »

HardKnocker wrote:One of Donald Trump's companies also went bankrupt.

Having winners and losers is part of the game of business.
Hasn't Trump declared bankruptcy two or three times? And the casino's.......
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likegarden
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Re: Rich ‘Dad,’ bankrupt Dad

Post by likegarden »

Others think they are business men and are not and file for bankruptcy. Schilling was a great MLB pitcher though, and probably will lose all his savings.
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kenyan
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Re: Rich ‘Dad,’ bankrupt Dad

Post by kenyan »

He is a successful businessman, but not by following his own advice. He is successful because he convinces other people to pay for his advice (books, seminars).
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Re: Rich ‘Dad,’ bankrupt Dad

Post by Grt2bOutdoors »

kenyan wrote:He is a successful businessman, but not by following his own advice. He is successful because he convinces other people to pay for his advice (books, seminars).
There is another term for it, but businessman is not the one that comes to mind. Let your mind run a bit.
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trico
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Re: Rich ‘Dad,’ bankrupt Dad

Post by trico »

Big daddy is bankrupt too. But he can print more money. I am trying to get my printer to print money but it doesn't seem to work.
NYBoglehead
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Re: Rich ‘Dad,’ bankrupt Dad

Post by NYBoglehead »

No bailout I guess for Rich Dad. Lloyd Blankfein, Jamie Dimon, John Thain and Co. probably think this guy is such a bum.
hicabob
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Re: Rich ‘Dad,’ bankrupt Dad

Post by hicabob »

trico wrote:Big daddy is bankrupt too. But he can print more money. I am trying to get my printer to print money but it doesn't seem to work.
you need a scanner/printer for that :twisted:
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VictoriaF
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Re: Rich ‘Dad,’ bankrupt Dad

Post by VictoriaF »

hicabob wrote:
trico wrote:Big daddy is bankrupt too. But he can print more money. I am trying to get my printer to print money but it doesn't seem to work.
you need a scanner/printer for that :twisted:
Or a scammer/printer.

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huntertheory
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Re: Rich ‘Dad,’ bankrupt Dad

Post by huntertheory »

What, you mean these guys don't have all the answers?

Image

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Well I never.
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slug
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Re: Rich ‘Dad,’ bankrupt Dad

Post by slug »

Finally a lesson worth learning from Kiyosaki. Separate LLC's can save you from yourself.
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Clearly_Irrational
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Re: Rich ‘Dad,’ bankrupt Dad

Post by Clearly_Irrational »

slug wrote:Finally a lesson worth learning from Kiyosaki. Separate LLC's can save you from yourself.
Although he's a bit of a shyster, at a macro level his advice isn't actually all that bad. Sure, the details are fuzzy and he's perhaps over-optimistic, but the basic concepts are pretty good.
TN_INVEST
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Re: Rich ‘Dad,’ bankrupt Dad

Post by TN_INVEST »

abuss368 wrote:
HardKnocker wrote:One of Donald Trump's companies also went bankrupt.

Having winners and losers is part of the game of business.
Hasn't Trump declared bankruptcy two or three times? And the casino's.......
As I understand it, Trump's corporations have filed for bankruptcy; Trump personally has not.

I can't help but wonder if Kyosaki isn't in that same boat?
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greg24
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Re: Rich ‘Dad,’ bankrupt Dad

Post by greg24 »

TN_INVEST wrote:As I understand it, Trump's corporations have filed for bankruptcy; Trump personally has not.

I can't help but wonder if Kyosaki isn't in that same boat?
Kiyosaki did supposedly file for bankruptcy earlier in his career. But its hard to separate his tales from reality, so I say supposedly.
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VictoriaF
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Re: Rich ‘Dad,’ bankrupt Dad

Post by VictoriaF »

huntertheory wrote:What, you mean these guys don't have all the answers?

Image

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Did Trump ask for Kiyosaki's birth certificate?

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Easy Rhino
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Re: Rich ‘Dad,’ bankrupt Dad

Post by Easy Rhino »

not as much schadenfreude as I hoped for when I read the title.
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HomerJ
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Re: Rich ‘Dad,’ bankrupt Dad

Post by HomerJ »

Easy Rhino wrote:not as much schadenfreude as I hoped for when I read the title.
Yeah, I was hoping to see a picture of him living under a bridge... :(
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Re: Rich ‘Dad,’ bankrupt Dad

Post by Alex Frakt »

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