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

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 .

Kslib: Which one come be rich dad poor dad again? The same dad rich,that same dad come poor again at the same time.... Inshort engrish,you dey mad. No be my head you go use play soccer.. I quit

mxxpunkxx!:
Nigerians are so illiterate.

To the illiterates posters above :

There's a very big difference between GOING BANKRUPT and FILING FOR BANKRUPTCY.
Take note, the article didn't say he is bankrupt, it only said, he filed for . . .

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

vivacious vivi:

I observed that too. Further comments started confusing me. Thks for setting it straight jare.

acidtalk: When his Assiatant and Coauthor came out to tell the public this about 5years ago, Kiyosaki denied it (but I believed her).

He threatened and even sued her then, but it was settled out of court.

Lie and denial can run as fast as they wish, but the truth ALWAYS surely meets up and overtake.

If you really want a REAL MENTOR, please follow the words of Brian Tracy and not Kiyosaki whose most teaching are neither applicable in Africa nor have they proven to work 60%

His book with Donald Trump revealed a lot of his impracticable theories.

fr_evangel: 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!

222Martins:

Let those who want to doubt keep doubting. Robert Kiyosaki's book requires an open mind and a complete paradigm shift but unfortunately, most people are vehemently resistance to change.

Billyonaire: Motivational Speakers are like Christian Pastors, they raise your ego, convoke your faith, evoke your hope and take your money and become richer than you. He is Bankrupt, no need to speculate.

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?

davidylan:

Nah the guy is a fraud who makes the bulk of his money off gullible people like you who buy his books. Part of his "advice" in his books is the overt encouragement of insider trading... that is FRAUD here in the US and is typically a Class B misdemeanor with 6 month jail time.

222Martins:

I leave you to your belief. I believe you understand what it means for a business to file for bankruptcy; mind you that he didn't file for personal bankruptcy. He can't be bankrupt because a corporation is a seperate legal entity and a financial shield.

222Martins:

My brother, there will always be insider trading; whether you like it or not. If your mom is a director on the board of first bank and she gave you a tip that helped you profit from first bank shares; is that not insider trading? Remember the case between Otedola and Dangote; where Otedola alleged that Dangote depreciated the value of AP stock through inside trading thereby taking him off the Forbes billionaire's list.

I repeat, there will always be inside trading. So rather than kick against the idea, why don't you align yourself with the rich and play their game. Just my two cents.

stagger: OP,

GET YOUR FACTS STRAIGHT!

Robert Kiyosaki is worth $80million and his personal fortune is not in any danger. It is one of his numerous companies which was slammed with a $24million judgement in a lawsuit which filed for bankruptcy protection as the assets of that company is not enough to pay for the judgement cost.

He simply did it so he would not have to start using his own money or that of his other companies to pay it off. He is smart, just as most of the rich are and they use all tools available to them to protect their wealth.

Kiyosaki is not broke by any length of imagination.

davidylan:

and we wonder why nigeria is so screwed up. See another individual actively encouraging fraud while lamenting corruption at the federal level.
Only in Nigeria do we turn a blind eye to illegality. In Kiyosaki's America, he would be facing severe fines and significant jail time for the exact same message he sells to mugs like you.

Billyonaire: This happens to be a clearer picture. Good move, clever smart-ass he is.

222Martins:

I have just two questions for you. Are you an entrepreneur? Are you an investor? If your answer is no, then please keep quiet. There's a legal insider trading and an illegal insider trading. Let me help you with an instance.

In July 2012, i got an information long before others got it that there's going to be a change in the management of Union Bank. After doing my research, i moved my money into Union bank shares at N4.25. Today is October 2012, Union Bank stands at N8.50.

Instead of blabbing and banging your head against the wall, trying to fight the system; why not learn how to legally profit from the system. It's all about financial intelligence my brother. I rest my case.

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

mxxpunkxx!:
Nigerians are so illiterate.

To the illiterates posters above :

There's a very big difference between GOING BANKRUPT and FILING FOR BANKRUPTCY.
Take note, the article didn't say he is bankrupt, it only said, he filed for . . .

davidylan:

Actually there is no such distinction. If what you perpetrated there had occurred in the US, Union bank would be facing stiff fines and your source would be facing jail time right about now.
Sorry, rather than telling me to "keep quiet" it might be in your own interest to wonder why rogues like you expect nigeria to be any better when you all are no better than the corrupt leaders you often love to disparage.

Insider trading is what it is... using information that is not made public for personal gain by virtue of your business relationships. Its against the law in every other civilized country except Nigeria of course. Keep it up bro... i'm sure you thought you were being smart. And you wonder why some of us just laugh when you all convene your 80-day prayer services for a country you have all conspired to ruin.

You're not an entrepreneur... just a criminal who pretends to be straight.

222Martins:

Some people just refuse to learn.......i rest my case

fr_evangel: 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!

Reference:

Sure we understand the difference between a stroke and a heart attack. Pity. In both cases we know where you're headed. The fact remains no one who chooses to be a motivational cum financial expert willingly walks into financial distress just as your pastor will not admit to sinning just to preach the gospel of forgiveness.

The man's abilities are under question. That is the fact and all his theories are just that, about abilities but life is far more than that. Just ask the Lance Armstrong machine.

222Martins:

You were once financially naive about this issue, but now that you have understood. I am glad.