basisop: Grammar no be money. After speaking the whole english in his book he is broke.

Those traders in Idumota in Lagos, main market in Onitsha, katin kwori in Kano are 70% illiterate yet they are rich and successful.

How many people remember and apply what they read anyway?

u either read and didnt undertand or u didnt read the article at all

He will defo make more money.

I know people are going to attack me for this but the guy is a fraud; however, he’s not personally broke. The bankruptcy filed was for one of his corporations to avoid paying a $24 million judgment against him in a suit filed by one of his early partners in crime. Thanks to all the mugus that bought his books, he's personally worth about $80 million. He made his money from all the books you guys bought and not based on any advise in his books!

Here's a detailed critic of the guy and the claims his books.
http://www.johntreed.com/Kiyosaki.html#bothsides

acidtalk: For you all still believing he isn't broke, don't be deceived.

Robert Kiyosaki has been damn broke since over 5years.

Would have given details but I am quite busy now and my thumb aches.

Please check that his coauthor in Rich dad, poor dad. She owned about 35% stake or so in the whole business and was even believed she was the REAL BRAIN behind most of the theories.

When she left Kiyosaki, it became obvious she was the brain box behind him because the 5 other books he realeased were a total disaster. None was a bestseller even the one he wrote with Donald trump.

Now to cut long story short, check the ladies name and google both of them (together). More details and facts will come up.


It pays to be enlightened. I can bet 95% of Youths on this forum have neither heard of Kiyosaki nor read his book before.

yeah, u're right, now, i know why u create reasonable threads, u read alot, thumb up man.
Brain Tracy's strategies/principles are easy to practise here in Africa, than dt Kiyosaki's. No doubt, kiyosaki and his coauthor made a lot of sense in dt book(rich dad, poor dad) but i still prefer Brian tracy's points, especially in his books "making money out of thin air" and "Advanced selling strategies". Anyway, they are all writing from what seems to work 4 them.
Anyone dt argues dt kiyosaki is not broke, shoud ask from d author of "think and grow rich"(Napoleon Hill) who committed suicide because he was declared bankrupt, d man who wrote "if u can think it, u can have it" isn't dt what kiyosaki is trying to avoid by filing 4 bankruptcy?

i read a more comprehensive article about it on Forbes earlier today. d truth is dat one of his companies incured a liability of 24 million dollar ( court order), and he had no choice but to file 4 bankruptcy. He incurred no personal liability as a result of d filing. He his still worth about 60 million dollars.

i read his book way back in Senior secondary 1(ss1). IT was a nice read but really not applicable to an african setting.
Brian Tracy's books are far better. #Jussayin

What most people dont realise is that those books you read are not meant to develop you as much as they are meant to expand the pockets of the author.

Lol......Robert Kiyosaki is not broke, if you have read most of his books, you will know that his action is just an asset protection strategy. And for those claiming his principles don't work in the Nigerian settings, please go back and re-read his books. I am where i am today because i applied the Rich dad's principle to my life and i haven't left the shores of Nigeria for once.

Wallie: I know people are going to attack me for this but the guy is a fraud; however, he’s not personally broke. The bankruptcy filed was for one of his corporations to avoid paying a $24 million judgment against him in a suit filed by one of his early partners in crime. Thanks to all the mugus that bought his books, he's personally worth about $80 million. He made his money from all the books you guys bought and not based on any advise in his books!

Here's a detailed critic of the guy and the claims his books.
http://www.johntreed.com/Kiyosaki.html#bothsides

Exactly my point. The book is full of platitudes. The advice weren't bad themselves it is just that there is really nothing new from it.
Can you imagine someone telling you how to be a successful business man but has never ran a business venture?
That's who Kiyosaki is. Why don't we listen to guys like Bill Gates, Trump or even Mark Zuckerberg?

I bought and read his book so many years ago,but I actually did not enjoy it so it's been lying in my library and accumulating dust.But no matter how we look at it especially folks defending this his bankrupcy move,I strongly feel that this is not the kind of news we should be getting from this guy.This is an ardent advocate that always encourages people to ensure that most of your spending should be on assets side and not liabilities side.

I guess he has not been doing what he is preaching

awesome_t: All the best to him. Never really believed all those motivational "get rich quick" mumbo jumbo books.

Rich dad Poor dad nor get rich quick book.

k2039: I dont think he is bankrupt,he is just playing smart,he is shielding his assets and minimizing his liabilities.
That's what I think

Save your thoughts man. You did'nt even have to think it, it's stated clearly in black and white in the report.

Have gained a lot from reading the biographies/Books by Billionaires like Rockerfeller,Gates,Buffet etc than reading all the motivational books put together. The common denominator for this great Men is Purpose.
Their live in one sentence "do what you enjoy doing and try to get paid doing it".

As for Kiyosaki (read his books), I don't care what He files for, Never a Fan Anyway.

awesome_t: All the best to him. Never really believed all those motivational "get rich quick" mumbo jumbo books.

Kiyosaki does not write "Get rich Quick mumbo jumbo" books. Seems like you haven't read his books.

And to those who claim Nigerian readers helped to make him Rich by buying his books, I really Wonder how true that can be when a huge percentage of his books sold in Nigeria are Pirated copies with zero profit getting to his company.

armadeo: I lol when I see naijans trying to apply his principles here. A friend of mine was even telling me that a car is a liability.
Over there u can buy a car or house and pay over 30yrs hence a liabilty I.e U are in debt for 30yrs but here unless u have strong hand in ur bank who will release the car to u. Out toks are fully paid for b4 release hence asset. Its fully urs.

Even after paying in full for your car, that still doesn't make it an asset. An asset is meant to appreciate in value over time. Cars don't.
A car will Always be a liability cos as soon as you drive it off the dealership, its price has dropped significantly.

The fact that we do not have efficient transportation systems here is what makes owning a car a Necessity. But that's where it ends.

armadeo: IMO the book rich dad poor dad was his own way to hammer which he did. I lol when I see naijans trying to apply his principles here. A friend of mine was even telling me that a car is a liability. Imagine.
I am amazed that people cannot see reality, those principles can't work here it only apllies when there is long term credit facilities which smart ones can make a killing on.
Case in point the car or house:
Over there u can buy a car or house and pay over 30yrs hence a liabilty I.e U are in debt for 30yrs but here unless u have strong hand in ur bank who will release the car to u. Out toks are fully paid for b4 release hence asset. Its fully urs.
BTW if 95 percent haven't read that book then smh @ our future not because its applicable but because no search for knowledge.

What it means when its said that a car is a liability is not the matter of wether u ve or hvn't fully paid for it,its the fact that a car depreciates in value over time,if u purchase a brand new car from Coscharis this morning,by tmrow u can only resell it at a lower price maybe a million less,on d other hand a house even when not fully paid for keeps appreciating in value infact after some years u can sell it twice d price u bought it,clears ur debts with d proceeds use d balance to build or buy a cheaper house debt free.You get d drift?

Even after paying in full for your car, that still doesn't make it an asset. An asset is meant to appreciate in value over time. Cars don't.
A car will Always be a liability cos as soon as you drive it off the dealership, its price has dropped significantly.

The fact that we do not have efficient transportation systems here is what makes owning a car a Necessity. But that's where it ends

The biggest losers are the readers of Rich dad poor dad, who have been taught loads of junks and oftentimes believe such is reality while the Author had been extremely busy stashing all your money into his bank account. Shame the world has only become much more stvpid after receiving lessons from a man who could only make his money by selling "how to make money" to poor people who couldn't think for themselves.

Accounting 101. Assets are not meant to appreciate in value. Assets are expected to generate a future benefit to its owners. All assets are expected to be eventually depreciated/amortized/depleted over time except for land and intangible assets such as goodwill. Cars are an asset and like any other asset will experience depreciation over time. Liability is what you owe to other people. Surely, buying fuel into your car isn't a liability!

I see this dude's advert everyday in the daily mail for some "get rich" seminar and i can't but wonder at the gullibility of humans!

yeye4live: dis will tell u dier is more to writing than makin dat money it self , money pass knowledge ,4me which means not every one wit so many certificate can make mone more dan an average illiterate

Dafuq did i just read?!!

awesome_t: All the best to him. Never really believed all those motivational "get rich quick" mumbo jumbo books.

He siad its a get rich-quick book
I am sure Ʊ avnt even read it Ʊ r only judging by its name.

information is Priceless, the difference between The Rich and the Poor is simply Information and its application "what the rich know and apply" , We acquire information by several ways like Reading books, Personal experiences, school, movies and things we hear and see. Let us all be Positive in our attitude , lets us all learn from each other , No Man Knows it all. This is my suggestion. Cheers all have a great weekend.

Please you guys should be smarter than this. Corporate bankruptcy is different from personal bankruptcy. A little help with google can do wonders, in terms of enlightenment.
I read about four of the books in 3ich dad series, even though some of his theories cannot readily work in Nigeria. A little imagination on your part as a Nigerian reader can take you a long way.

strategic business move.

Rich Global LLC, one of the corporate
arms Kiyosaki has done business
under, filed for bankruptcy protection
in August, after it was ordered to pay
just under $24 million to the Learning
Annex and its chairman Bill Zanker.
Kiyosaki was one of the small-time
wealth guru mountebanks who made it
to the big-time in the aughts by telling
his forever falling behind audience that
they could get ahead, they just had
not learned how. The schtick behind
the Rich Dad books was that Kiyosaki
was sharing secret money-making
strategies of the wealthy with his wage
slave readers. The tips ran the gamut
from ridiculous to illegal and downright
hurtful and included advocating
for insider trading, arguing for the
purchase of multiple real estate
properties with little or no money down
and telling followers they could
purchase stocks on margin via
unfunded brokerage accounts.
The Learning Annex was one of
Kiyosaki’s earliest backers, and helped
arrange a number of his most
prominent speaking gigs in the early
aughts. They were not alone. Oprah
Winfrey had him on her show, and PBS
ran his programming during their
fundraising weeks.
So how did Kiyosaki, whom the website Celebrity Net Worth estimates is worth a cool $80 million, come to this pass?
Well, he didn’t come to any pass. He
now conducts much of his business
not via Rich Global LLC but under
the rubrik Rich Dad Co. And it’s a
corporate bankruptcy, not a personal
bankruptcy. When the New York Post,
which broke the story, tracked down
Mike Sullivan, Rich Dad Co. CEO, he
informed them that Kiyosaki would not
be putting any of his personal fortune
toward the settlement. As for Rich
Global, Sullivan claimed it only had a
few million in its coffers.
Of course, you could argue that
Learning Annex CEO Zanker should
have known better. No one has ever
proven that Rich Dad, the man who
supposedly gave Kiyosaki all his advice
for wealthy living, ever existed. Nor
has anyone ever documented any vast
reserves of wealth earned by Kiyosaki
prior to the publication of Rich Dad,
Poor Dad in 1997.

This is an ardent advocate that always encourages people to ensure that most of your spending should be on assets side and not liabilities side.[/quote]

Oga Chyket, do you really believe he has gone contrary to that advice? One of his companies lost a law suit(not that the company ran up 24million in debt). That Kiyosaki is the Chairman/President of the company, does not make him the sole decision maker in that company.
Do you really expect him to take his personal money or ask another of his company to pay the 24 million dollars?

yeye4live: dis will tell u dier is more to writing than makin dat money it self , money pass knowledge ,4me which means not every one wit so many certificate can make mone more dan an average illiterate

Are you a human being

lekanolas:
The famed author of “Rich Dad, Poor Dad,” filed for bankruptcy after losing a $24 million dollar lawsuit
However, the declaration of bankruptcy is seen in financial circles as a smart business move, taken to shield Kiyosaki’s estimated $80 million wealth from judgement debts .

Kiyosaki's net worth is estimated at USD80m, Rich Co Inc is judged to be bankrupt.

Who is still insisting that the man is broke?

Filing for bankruptcy means he is having financial difficulty. Forget about smart move. When I read his book around 6 years ago, I told my friends that the principles of his book are largely untenable in the real fiendish world.

See I never believed in all this best sellers - we africans just read those books to improve our spoken english and learn some new writing skills , most thinhs in the book don't work here ok pratically

was never able to finish any of d books he wrote cos I never really believed what he wrote in d parts I read

To start with, Robert can not file for bankruptcy as he has no personal money. As stated earlier, its all a smart asset protection move.

I am also really sorry for the people here that have achieved nothing with their lives and are out there praying that every successful Ǎ̜̣̍Ϟd hard working person fails. We will continue †☺ fly high Ǎ̜̣̍Ϟd have you serve us as long as you remain in that state of mind.

k2039: I dont think he is bankrupt,he is just playing smart,he is shielding his assets and minimizing his liabilities.
That's what I think

exactly! He has even discussed using this method in some of his book.... Robert Kiyosaki ain't no guy from a rich home, he is the street-smart entrepreneur

I am seriously amazed when I see comments condemning Kiyosaki's books. Especially those who say his principles are not applicable in Nigeria.

I was still in university back in 2006 when i started reading his books(rich dad poor dad, retire young, retire rich, cash flow q, rich kid smart kid, guide to investing etc) and from the principles i got from particularly Rich dad, Cash flow and Retire young, i became an employer while still in school!

I literally didn't ask for pocket money again, i even sent money back home.
I graduated and went straight into business and in few months I was making about 200k/month from rendering services.

I took my business to a next level when i read Retire young for the 3rd time as I learnt to get funding from banks, in short, i learnt how to retire young by using the leverage of OPM(other people's money), OPT(other people's time) and OPM2(other people's mind). I didn't even go collect my result or think of going for NYSC until almost 2yrs(after several confrontations from my mum), even when I had a good result.

I am still doing very well today based on the principles I learnt from his books!

Ultimately, God gives grace but you need to learn some basic ways to leverage for wealth creation.

For those who are fronting for Brian Tracy, guess what? I have bought his books as well and just find them boring, but that doesn't mean his principles may not have helped some.

NOTE: the founder of CNN(Ted Tunner) actually went broke too before he came up with CNN and other business outfits.
Donald Trump once got bankrupt into the tune of negative Billion. But he is still a force in the Real estate industry in US today.

That you go bankrupt doesn't mean the certain principles don't work! It could be a result of some other lapse or certain other factors which can be sabotage as well.

Finally, the article DIDN'T SAY KIYOSAKI IS BANKRUPT, it says he FILED FOR BANKRUPCY which is a wealth protection strategy as well!