Kiyosaki in 2014.
|Born||Robert Toru Kiyosaki
April 8, 1947
Hilo, Hawaii, U.S.
|Subject||Personal finance, business investing|
|Notable works||Rich Dad, Poor Dad|
Best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve.
With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.
Robert’s most recent books—Why the Rich Are Getting Richer and More Important Than Money—were published in the spring of this year to mark the 20th Anniversary of the 1997 release of Rich Dad Poor Dad. That book and its messages, viewed around the world as a classic in the personal finance arena, have stood the test of time. Why the Rich Are Getting Richer, released two decades after the international blockbuster bestseller Rich Dad Poor Dad, is positioned as Rich Dad Graduate School. Robert has also co-authored two books with Donald Trump, prior to his successful bid for the White House and election as President of the United States.
Robert Toru Kiyosaki (born April 8, 1947) is an American businessman and author. Kiyosaki is the founder of the Rich Dad Company, a private financial education company that provides personal finance and business education to people through books and videos. He is also the creator of the Cashflow board and software games to educate adults and children business and financial concepts.
Kiyosaki is the author of more than 26 books, including the international self-published personal finance Rich Dad Poor Dad series of books which has been translated into 51 languages, available in 109 countries and have combined sales of over 27 million copies sold worldwide.
Other business ventures and investments
Kiyosaki operates other external business ventures and investments. Many are concentrated in the information technology (mobile apps and internet), publishing, retail, education, mining, energy, financial market, and real estate industries. Kiyosaki asserts that he makes 2 million USD in cash flow per month tax free from all his businesses and investments. Kiyosaki’s estimated wealth is about $80 million USD. Kiyosaki is involved with the apartment business and owns over 1400 units of apartment houses. Kiyosaki has been involved with commercial real estate sector such as investing in warehouses, Triple net lease and real estate development ventures around the United States.
During the subprime mortgage crisis in the late 2000s, Kiyosaki invested heavily having acquired nearly 40% of his 2015 portfolio of distressed properties during the downturn. In 2008, Kiyosaki purchased a 300 unit, $17 million apartment complex in Tulsa, Oklahoma. Many of his commercial real estate holdings include luxury and boutique hotels, golf courses, and large apartment complexes as stated in an interview with The Alex Jones Show in 2010. During the same year, Kiyosaki acquired a $46 million Arizona landmark resort with 5 golf courses that was in foreclosure at a bankruptcy court. In 2011, he invested in a 2000 unit apartment construction project and earned approximately $250,000 in monthly cash flow. In May 2015, he invested in a 1600 unit apartment complex for $80 million USD. In December 2015, Kiyosaki refinanced a $300 million mortgage at 2.5 percent on one of his apartment complex investments. In May 2016, Kiyosaki stated he controls over 10,000 apartment units producing over one million dollars in cash flow every month. Kiyosaki has been in the oil business since the late 1990s. He owns a number of oil drilling operations and oil wells in Texas, Louisiana, and Oklahoma. In 2013, Kiyosaki invested in three new oil wells at a 10 percent stake. In late 2015, Kiyosaki amassed a portfolio of 400 privately controlled oil wells.
Business and financial advice
Kiyosaki’s financial and business teachings focus on what he calls “financial education” generating passive income by means of focusing on business and investment opportunities, such as real estate investments, businesses, stocks and commodities, with the ultimate goal of being able to support oneself by such investments alone and thus achieving true financial independence without working for a paycheck through a conventional salaried job. Kiyosaki defines the term “assets” as things that put money in ones pocket and describes an asset can be anything as long as it has value, produces income or appreciates, and has a ready market. He states that assets generate cash inflow, such as stock dividends, rental income from properties, or income from businesses, and the term “liabilities” as things that devour cash out of ones pocket, such as one’s personal residence, consumer loans, car loans, credit card payments and student loans. Kiyosaki argues that financial leverage is crucial in becoming rich despite risks, repercussions, and pitfalls that come with utilizing leverage to achieve financial independence. Kiyosaki stresses the importance of building up an asset first to fund one’s liabilities instead of saving cash or relying on a salary from a traditional job.
- If You Want to Be Rich & Happy: Don’t Go to School?: Ensuring Lifetime Security for Yourself and Your Children (1992). ISBN0-944031-38-2.
- Rich Dad Poor Dad – What the Rich Teach Their Kids About Money – That the Poor and Middle Class Do Not! (first published in 1997) Warner Business Books. ISBN0-446-67745-0.
- Cashflow Quadrant: Rich Dad’s Guide to Financial Freedom (2000). ISBN0-446-67747-7.
- Rich Dad’s Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! (2000). ISBN0-446-67746-9.
- The Business School for People Who Like Helping People (March 2001). ISBN99922-67-42-9 – endorses multi-level marketing
- Rich Dad’s Rich Kid, Smart Kid: Giving Your Children a Financial Headstart (2001). ISBN0-446-67748-5.
- Rich Dad’s Retire Young, Retire Rich (2002). ISBN0-446-67843-0.
- Rich Dad’s Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming… and How You Can Prepare Yourself and Profit from It! (2002). Warner Books. ISBN0-641-62241-4.
- Rich Dad’s The Business School: For People Who Like Helping People (2003) ISBN979-686-729-X.
- Rich Dad’s Success Stories (2003)
- You Can Choose to be Rich (2003) 12-CD Audio series with three books.
- Rich Dad’s Who Took My Money?: Why Slow Investors Lose and Fast Money Wins!(2004) ISBN0-446-69182-8.
- Rich Dad, Poor Dad for Teens: The Secrets About Money – That You Don’t Learn in School! (2004) ISBN0-446-69321-9.
- Rich Dad’s Before You Quit Your Job: 10 Real-Life Lessons Every Entrepreneur Should Know About Building a Multimillion-Dollar Business (2005). ISBN0-446-69637-4.
- Rich Dad’s Escape from the Rat Race – Comic for children (2005)
- Why We Want You to Be Rich: Two Men, One Message (2006) co-written with Donald J. TrumpISBN1-933914-02-5.
- Rich Dad’s Increase Your Financial IQ: Get Smarter with Your Money (2008). ISBN0-446-50936-1.
- Rich Dad’s Conspiracy of the Rich: The 8 New Rules of Money (2009). ISBN0-446-55980-6
- Rich Dad’s Rich Brother Rich Sister (2009) co-written with Emi Kiyosaki
- The Real Book of Real Estate: Real Experts. Real Stories. Real Life. (2009) ISBN1-4587-7250-0.
- An Unfair Advantage: The Power of Financial Education (2011). ISBN1-61268-010-0.
- Midas Touch: Why Some Entrepreneurs Get Rich And Why Most Don’t (2011), co-written with Donald J. Trump ISBN1-61268-095-X.
- Why ‘A’ Students Work for ‘C’ Students and Why ‘B’ Students Work for the Government: Rich Dad’s Guide to Financial Education for Parents (2013). ISBN978-1612680767.
- The Business of the 21st Century (2014), co-written with John Fleming and Kim KiyosakiISBN8183222609.
- Second Chance: for Your Money, Your Life and Our World (2015) ISBN978-1612680460
- 8 Lessons in Military Leadership for Entrepreneurs: How Military Values and Experience Can Shape Business and Life (2015) ISBN978-1491583876