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Rich Dad Poor Dad Guy Files for Chapter 7

By JodyChunder   2012 Oct 20, 3:06pm   2 links   3,037 views   12 comments   watch (0)   quote      

http://www.businessinsider.com/the-author-of-the-rich-dad-poor-dad-books-has-filed-for-chapter-7-bankruptcy-2012-10

As one of Kiyosaki's earliest backers, The Learning Annex was responsible for arranging the speaking engagements and platform that led to his massive success.  But apparently the fame went to his head because according to court papers obtained by the Post, Kiyosaki, who published his first "Rich Dad" book in 1994, never paid the Annex its rightful share. Said founder and chairman Bill Zanker: "Oprah believed in him, and Will Smith believed in him, but he didn't keep his promise to us.

Comments 1-12 of 12     Last »

1   E-man   5/5 = 100% civil   2012 Oct 20, 5:48pm  ↑ like (1)   ↓ dislike   quote    

www.johntreed.com has a good & short summary about Robert Kiyosaki & some other RE gurus such as Robert Allen, Carlton Sheets, etc.

Btw, I'm not a fan of John Reed either for a different reason.

Happy reading. :)

2   justme   117/117 = 100% civil   2012 Oct 20, 6:34pm  ↑ like   ↓ dislike   quote    

The irony is so thick it that it cannot be cut even with a steel blade.

The Rich Dad guy eventually became a Poor Dad guy. Quelle surprise, as Yves Smith might have said.

3   xenogear3     2012 Oct 20, 7:26pm  ↑ like (1)   ↓ dislike   quote    

He has a poor dad?

4   TwoScoopsMcGee   1265/1265 = 100% civil   2012 Oct 22, 1:57am  ↑ like   ↓ dislike   quote    

MUHAHAHAHA. Kiyosaki's dad was actually a big wig with the Hawaii Education Administration and made very good money, well educated, mucho prestige; did it the old fashioned way by studying hard.

Sadly, his son seemed to fall into the Randroid Cult and had a series of unsuccessful businesses, terminating in his one.

This warms the cockles of my heart.

Second the John T Reed recommendation.

5   Daytona     2012 Oct 22, 2:48am  ↑ like   ↓ dislike   quote    

Rich dad taught him about setting up entities. This entity filed for bankruptcy not, RK. RK is richer than ever despite the legal judgement against his favor.

6   E-man   5/5 = 100% civil   2012 Oct 24, 6:14pm  ↑ like (2)   ↓ dislike   quote    

Daytona says

Rich dad taught him about setting up entities. This entity filed for bankruptcy not, RK. RK is richer than ever despite the legal judgement against his favor.

Sadly this is true. To me, Robert Kiyosaki is nothing more than a motivational speaker & a con artist. There's a lot of money to be made in selling "dreams". I'm just in the wrong business.

7   FortWayne   432/436 = 99% civil   2012 Oct 25, 2:28am  ↑ like (3)   ↓ dislike   quote    

I've read his book, my wife bought it. A lot of random rambling in that book, he never really gets to the point, but here is a short summary for you guys.

"If you want to succeed, keep trying to open a successful business until you succeed. And don't waste money on things that will not provide returns. And if you really suck at it, your last bet is to find a wealthy wife, but don't count on it."

8   dublin hillz   14/14 = 100% civil   2012 Oct 25, 2:38am  ↑ like   ↓ dislike   quote    

That guys is such a fraud and a pompous as to top it off.

9   Automan Empire   41/41 = 100% civil   2012 Oct 25, 3:03am  ↑ like (1)   ↓ dislike   quote    

underwaterman says

Thanks to E-man for sharing the site.

http://patrick.net/?p=1217929
Don't mention it.

Another pompous a$$ gets his belated comeuppance, only after setting untold numbers onto a path of ruin. Oh, the schadenfreunde!

10   dublin hillz   14/14 = 100% civil   2012 Oct 25, 3:11am  ↑ like (1)   ↓ dislike   quote    

Automan Empire says

underwaterman says



Thanks to E-man for sharing the site.



http://patrick.net/?p=1217929
Don't mention it.


Another pompous a$$ gets his belated comeuppance, only after setting untold numbers onto a path of ruin. Oh, the schadenfreunde!

He should be "re-educated" in siberia. Waterboarding is considered to be swimming lessons over there . . .

11   gbenson     2012 Oct 25, 9:44am  ↑ like   ↓ dislike   quote    

FortWayne says

If you want to succeed, keep trying to open a successful business until you succeed.

You mean like going around to a bunch of US cities and hawking a crappy book to people desperate to escape their crappy lives by getting rich quick? Prolly a lot of money in that..

12   TwoScoopsMcGee   1265/1265 = 100% civil   2012 Oct 26, 12:55am  ↑ like   ↓ dislike   quote    

Automan Empire says

Don't mention it.

Word.
http://patrick.net/?p=1210910&c=819721#comment-819721

Actually, some "different sean" dude, beat us all to it.

I just found he was involved in a twitter war with another bad adviser (IMHO), Suze Orman:
http://abcnews.go.com/Business/suze-orman-robert-kiyosaki-twitter-dispute-financial-advice/story?id=10001293

I think Orman is a bad adviser because she obtained money in a very unusual fashion: Apparently at 19, while working in a bakery, some random dude apparently gave her $10k in 1980. She opened up her own bakery, which apparently failed as/after she got ripped off by a financial adviser, then sued the financial firm, then got a job as a financial adviser. Her basic fortune basically came from getting a gift from a stranger, and then a lawsuit. She also has no children.

One of those people that had a lot of money by their mid twenties and never "really couldn't afford" anything, telling people their problem is buying things. Harangue some Caller for spending $5 on a Happy Meal for their kids after they worked 60 hours at two jobs and are tired and wanted to make their kid happy, while she doesn't blink an eye dropping $100 on a dinner type.

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