Robert Kiyosaki

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NOT NOW, DAD

Robert Toru Kiyosaki (1947–) is an American speaker, entrepreneur and real estate investor, most famous as a co-author of the 1997 financial self-help book Rich Dad, Poor Dad. He has since capitalized on its success with more than a dozen sequels, and with Rich Dad LLC, a financial/entrepreneurship-themed brand of software, games, videos and live events.[1]

Kiyosaki's website hails him as a "visionary" on a mission "to elevate the financial well-being of humanity."[2] These lofty ideals are reflected in his books and lectures, which endorse completely routine and totally ethical practices like strategic bankruptcy, credit card kiting and insider trading.[3][4] Putting this advice into practice has yielded Kiyosaki several bankruptcies and lawsuits of his own.[5][6]

Although they have sold tens of millions of copies and earned praise from celebrities, Rich Dad and its sequels contain numerous factual errors, extremely unlikely anecdotes, and outright self-admitted lies.[7] When confronted, he even admitted to fabricating the very existence of his book's eponymous "Rich Dad," but defended himself by describing his work as more motivational than informational.[8] For many years he promoted Rich Dad through the multilevel marketing company Amway, which continues to endorse and use it as part of recruitment.[5] Rich Dad live events, which cost hundreds of dollars or more, are organized and promoted by independent licensees and are not developed, held or attended by Kiyosaki despite featuring his name and likeness prominently.[9] Seminars consist mostly of advertising for other, even more expensive products or events; what little actual advice they do contain is often so bad that it has led to at least one warning from US law enforcement.[10][11]

A self-described "passionate and outspoken advocate for financial education",[12] Kiyosaki holds strong anti-science, anti-education and anti-intellectual views best summarized by the title and content of his book, If You Want to Be Rich and Happy, Don't Go To School.[13] He frequently encourages students to drop out of school by recalling his relationship with his father, a PhD engineer whom Kiyosaki describes as unemployed and unfulfilled.[14] Kiyosaki's actual father was Ralph Hideyuki Kiyosaki (1919–1991), who was a middle-class teacher and superintendent of schools in Hilo, Hawaii.[15] His father's middle-class background enabled Kiyosaki to get a good education,[16] which he has benefited from but not appreciated.

Unsurprisingly, one of his best friends and onetime co-author is a certain other bankruptcy-prone real estate developer with a hostile attitude towards science, education and facts.[17]

External links[edit]

References[edit]

  1. "Robert Kiyosaki's ongoing legal dispute says everything about the shadiness of personal finance gurus". Retrieved 6 August 2020. 
  2. About Robert T. Kiyosaki
  3. "Analysis of Robert Kiyosaki's Rich dad poor dad". John Reed. Retrieved 13 November 2017. 
  4. "'Rich Dad' seminars deceptive: Marketplace". CBC News. February 1, 2010. Retrieved 2010-02-03. 
  5. 5.0 5.1 Civil Case #07-A-549886-C (Clark Country, Nevada)
  6. "Company Bankruptcy Information for Rich Global LLC". busbk.com. August 20, 2012. Retrieved 2012-08-20. 
  7. Kiyosaki, Robert T. (2017). Rich Dad, Poor Dad. Plata Publishing. p. 7. ISBN 9781612680194. 
  8. "Scam alert - Robert Kiyosaki - a con and a salesman". Ethan Van der Bilt. Retrieved 13 November 2017. 
  9. "Road to Rich Dad: Who's getting rich off Rich Dad?". Marketplace (Canadian TV program) (Canadian Broadcasting Company). January 29, 2010. Retrieved 2010-01-31. 
  10. OREC action against Jon Bradham - Case #2005-000339 (Ohio Real Estate Commission)
  11. "Why millions buy Rich Dad, Poor Dad's nonsense". Retrieved 6 August 2020. 
  12. About Rich Dad
  13. Kiyosaki, Robert (1 April 1993). If You Want to Be Rich & Happy Don't Go to School: Ensuring Lifetime Security for Yourself and Your Children (2 ed.). Aslan publications. ISBN 978-0944031384. 
  14. Sally Herigstad. "Q&A: Why Robert Kiyosaki thinks our education system is a bust". Retrieved 13 April 2016. 
  15. Think rich, get rich: Author of bestselling get-rich guide owes success partly to his poor dad by Cynthia Oi (July 10, 2000) Star-Bulletin.
  16. Robert Kiyosaki The Best You (archived from 7 Aug 2020 19:43:05 UTC).
  17. Trump, Donald; Kiyosaki, Robert (2006). Why We Want You to Be Rich: Two Men, One Message. Rich Press. ISBN 978-1933914022.