admin-ajax.php

Robert Kiyosaki “Rich Dad, Poor Dad” has filed for bankruptcy

Robert Kiyosaki, author of the best-selling book, “Rich Dad, Poor Dad,” has filed for bankruptcy.

Kiyosaki’s company, Rich Global LLC, has filed for bankruptcy protection after a $24 million dollar lawsuit that he lost to the Learning Annex, a company that promoted his seminars.The bankruptcy is not an indicator of Robert Kiyosaki personal financial health.  It is reported that he is worth $80 million.

In his books Kiyosaki teaches not to own anything in your own name but to own it in companies.  So now  instead of doing business under Rich Global LLC, he does business under Rich Dad Co, another company that he owns.

Mike Sullivan, the CEO of Rich Dad, made it clear that Robert Kiyosaki would not be putting any of his personal assets toward the judgement.

The Learning Annex arranged a large number of high-profile speaking engagements for Kiyosaki.  Bill Zanker, founder and CEO of the Learning Annex, felt that Robert Kiyosaki owed him big for what they’d done for him over the years.

I took Kiyosaki’s brand and made it bigger. The deal was I would get a percentage and he reneged,” Zanker said.“We had a signed letter of intent. The Learning Annex is the greatest promoter. We put his ‘Rich Dad’ brand on a stage. We truly prepared him for great fame and riches. But when it was time for him to pay up, he said no.”

He also says they had a contract, and the court obviously confirmed his version of events.

[post_ender]



icon-podcast-large

SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

icon-email-large

PREFER TO SUBSCRIBE VIA EMAIL?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Avatar for Property Update

About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'Robert Kiyosaki “Rich Dad, Poor Dad” has filed for bankruptcy' have 4 comments

  1. Avatar for Property Update

    October 13, 2012 @ 9:05 am Martin Shean

    interesting how he does not honur his debts – Does that mean the next book won’t be Rich Dad, Honourable Dad

    Reply

  2. Avatar for Property Update

    October 14, 2012 @ 11:53 am vasilija wilson

    This is very interesting to read. Well It tels you we are all exposed to somthing that is nuwanted
    Things will get better

    Reply


Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*

facebook
twitter
google
0
linkedin
0
email

Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!