Robert Kiyosaki Net Worth

Robert Kiyosaki Net Worth 2024

Source - Twitter/@theRealKiyosaki

What is Robert Kiyosaki Net Worth 2024 ?

Robert Kiyosaki is an American investor, businessman, author, motivational speaker, and financial commentator with a net worth of $110 million as of 2024. He became famous for his book "Rich Dad Poor Dad," which is now a classic in personal finance. Kiyosaki's career includes many different business ventures, but he is especially passionate about teaching people about money.

His philosophy comes from his experiences with two father figures: his real dad, who followed a traditional path of education and employment, and his friend's dad, who was successful in business and taught him about financial independence.

Released in 1997, "Rich Dad Poor Dad" became a bestseller worldwide and led to a series of "Rich Dad" books. These books focus on financial independence, investing, real estate, and the importance of financial literacy, often challenging traditional ideas about work and income. Besides writing, Kiyosaki has been involved in various businesses and educational projects to promote practical financial education. Though his "Rich Dad" seminars have faced some criticism, Kiyosaki is still a well-known figure in personal finance and wealth development.

The Early Years of Robert Kiyosaki

Robert Kiyosaki was born Robert Toru Kiyosaki on April 8, 1947, in Hilo, Hawaii. He is the son of Ralph and Marjorie Kiyosaki and is a 4th-generation Japanese-American, also known as a "Yonsei." His father, an educator with a Ph.D., passed away in 1991. Robert often criticized people who pursued a Ph.D., indirectly referencing his father's later struggles with poverty and unemployment. He graduated from high school in 1965.

After high school, Kiyosaki attended Naval College and later joined the U.S. Marine Corps, following his brother who joined the Air Force to fight in the Vietnam War. As a helicopter gunship pilot, he served in Vietnam from 1972 to 1973. He has said that his experience as a Marine gave him the strength and character needed to succeed in business.

Following his time in Vietnam, Kiyosaki went to college in Hilo, Hawaii, where he earned an MBA. He then started his career in business, first working as a sales associate for Xerox until 1968, and later starting his own business.

Robert Kiyosaki's First Try at Starting a Business

Robert Kiyosaki's first venture was selling nylon/velcro wallets, which were quite innovative at the time. While the business saw some success, it eventually failed. His next attempt was a retail company selling t-shirts. He got licenses to make clothes for rock bands, like hats, wallets, and bags. Unfortunately, this business also went bankrupt. By 1980, Robert decided to focus more on education.

Robert Kiyosaki's Early Educational Ventures

Robert Kiyosaki's first step into education started with a company called the Accelerated Learning Institute. It was his initial attempt at business education, but it also focused on teaching students about social responsibility. He founded this company in 1985 and later sold it in 1994.

In the mid-1990s, Kiyosaki began building the foundation for his education empire, which would eventually lead to his wealth. It all began with the publication of his first book: "If You Want to Be Rich and Happy, Don't Go to School." The book criticized the idea of college education as the only way to succeed and encouraged people to get into real estate instead. At that time, Robert and his second wife were deeply involved in real estate themselves.

The turning point came in 1997 when Kiyosaki established Cashflow Technologies, Inc. This was the financial education company that owned and operated the "Rich Dad" brand, among others. In the same year, he published his most famous book, "Rich Dad Poor Dad."

The Impact of "Rich Dad Poor Dad"

The book "Rich Dad Poor Dad" has sold more than 32 million copies and was initially self-published by Robert Kiyosaki. It gained popularity quickly and stayed on the "New York Times" Best Sellers list for over six years after major publishers picked it up. Sales were boosted even more after the book was mentioned on "The Oprah Winfrey Show," propelling Kiyosaki into fame and fortune.

The book tells the story of two fathers: one who is poor and the other who becomes wealthy through smart investments and entrepreneurship. Later, Kiyosaki revealed that the "rich dad" was a made-up character, while the "poor dad" was based on his own father. "Rich Dad Poor Dad" shares valuable financial lessons, especially about real estate and starting a business.

Despite its commercial success, the book has faced criticism. Some argue that Kiyosaki's financial success stories lack evidence, and others find the book too vague. Some even say it mocks American culture. Kiyosaki has since clarified that the book was meant to inspire rather than be a step-by-step guide to financial success.

Robert Kiyosaki's Later Works

Following the success of "Rich Dad Poor Dad," Kiyosaki went on to publish several more books. These include "Cashflow Quadrant: Rich Dad's Guide to Financial Freedom" and collaborations with Donald Trump like "Why We Want You to be Rich: Two Men, One Message." Recent titles include "Who Stole My Pension?: How You Can Stop The Looting" (2020), "Capitalist Manifesto: Money for Nothing – Gold, Silver, and Bitcoin For Free" (2022), and "Ravens: How To Prepare For And Profit From The Turbulent Times Ahead" (2023). In total, Kiyosaki has written 26 books, selling over 41 million copies worldwide.

Kiyosaki's Seminar Business

In addition to writing books, Kiyosaki's business model includes seminars. These seminars, often led by other experts, follow a franchise-like approach. While some are free, others can cost hundreds or even tens of thousands of dollars.

Criticism and Controversy

Robert Kiyosaki has faced significant criticism over the years. Many attendees of his seminars complain about the lack of concrete information provided. He has also been involved in multi-level marketing, and some of his books and seminars have promoted questionable or illegal actions, like insider trading or dropping out of college. His company's recommendation to invest in real estate just before the 2008 recession also drew criticism.

Bankruptcy of his company

In 2012, Kiyosaki's company, Rich Global LLC, filed for bankruptcy following a series of class-action lawsuits. Attendees of his seminars sued, claiming they were misled, and there were also disputes over royalties. Losing these legal battles left the company in financial ruin, leading Kiyosaki to file for bankruptcy. He was ordered to pay nearly $24 million to The Learning Annex and its founder as a result.