Robert Kiyosaki, author of the best-selling “Rich Dad Poor Dad” book series, is estimated to be worth around $100 million. However, he has also claimed to be over $1 billion in debt, suggesting a complex financial picture. As an investor, entrepreneur, and speaker, Kiyosaki’s wealth likely stems from book sales, seminars, and his “Rich Dad” brand, though specific details are unclear. While his financial views spark debate, his influence on personal finance education remains significant.
|Robert Toru Kiyosaki
|April 8, 1947
|Hilo, Hawaii, United States
|Entrepreneur, Investor, Author, Public Speaker
|1972 – Present
|Kim Kiyosaki (m. 1986)
|Ralph H. Kiyosaki (father), Marjorie O. Kiyosaki (mother)
|Emi Kiyosaki, Beth Kiyosaki, Jon Kiyosaki
Table of Contents
What is Robert Kiyosaki’s Net Worth?
Robert Kiyosaki’s net worth is estimated to be around $100 Million. Born in 1947, Kiyosaki’s financial acumen stemmed from an unlikely source: his two fathers. His biological father, a highly educated teacher, emphasized job security and traditional finances, while his friend’s father, a successful entrepreneur, espoused the power of assets and passive income. These contrasting perspectives became the cornerstone of Kiyosaki’s financial philosophy, which he later articulated in his bestselling book.
After graduating from the US Merchant Marine Academy and serving in the Vietnam War, Kiyosaki embarked on a series of entrepreneurial ventures, experiencing both successes and failures. He dabbled in real estate, oil drilling, and nylon wallets, learning valuable lessons about business, risk, and the importance of financial education.
In 1985, Kiyosaki co-authored “Rich Dad, Poor Dad” with Sharon Lechter, detailing his financial education journey and advocating for financial literacy over traditional employment. The book became a runaway success, selling over 41 million copies worldwide and catapulting Kiyosaki to international fame.
However, Kiyosaki’s ventures extended beyond the page. He established the Rich Dad Company, offering educational programs, seminars, and investment products based on his financial philosophies. These ventures, while controversial at times, further expanded his reach and solidified his image as a financial guru.
Early Life And Education
Born in Hilo, Hawaii, in 1947, Kiyosaki’s childhood unfolded amidst the lush scenery and vibrant culture of the island. But beneath the idyllic surface lay two contrasting financial realities. His biological father, a highly educated public servant, embodied the “poor dad” archetype, grappling with financial limitations despite a prestigious career. Conversely, his friend’s father, a successful entrepreneur, became his “rich dad,” instilling in him the importance of financial literacy and building assets. These starkly different perspectives played a pivotal role in shaping Kiyosaki’s understanding of money and its complexities.
Kiyosaki excelled academically, graduating from Hilo High School in 1965. His thirst for knowledge led him to the prestigious United States Merchant Marine Academy (USMMA) in Kings Point, New York. In 1969, he earned a Bachelor of Science degree, setting the stage for a seemingly conventional career path. However, his patriotic spirit led him to enlist in the Marine Corps shortly after, serving as a helicopter gunship pilot during the Vietnam War (1970-1974). These challenging experiences instilled in him valuable lessons about discipline, teamwork, and leadership, traits that would later serve him well in the business world.
After his military service, Kiyosaki embarked on a diverse career path. He first flew commercial airlines, experiencing the world firsthand. But the entrepreneurial spark within him burned bright. He joined Xerox, quickly becoming a top salesperson, demonstrating his talent and drive. This success, however, fueled his desire for greater control and financial independence. In 1977, he launched his first venture, Rippers, a nylon and Velcro wallet company. While the business ultimately failed, it provided him with valuable entrepreneurial experience and lessons learned.
The following years saw Kiyosaki engage in multiple ventures, experiencing successes and failures alike. Each experience became a stepping stone, refining his understanding of business and finance. But it was in 1997 that his name became synonymous with financial education with the publication of “Rich Dad Poor Dad.” This international bestseller, co-authored with Sharon Lechter, challenged conventional financial wisdom and resonated with millions worldwide. The book, along with subsequent publications and educational programs, established Kiyosaki as a leading figure in the financial literacy movement.
Kiyosaki’s formative years were shaped by contrasting figures. His biological father, a highly educated government employee, embodied the traditional path of security through stable employment. However, it was his friend’s father, whom he affectionately called “Rich Dad,” who instilled in him an entrepreneurial mindset and the power of passive income. This duality of perspectives became a central theme in Kiyosaki’s teachings, emphasizing the importance of financial education beyond academic qualifications.
After graduating from the United States Merchant Marine Academy in 1969, Kiyosaki served as a helicopter gunship pilot during the Vietnam War. This experience, while undoubtedly challenging, instilled in him discipline, risk management skills, and an understanding of teamwork – qualities that would later prove invaluable in his business ventures. Following his military service, Kiyosaki entered the corporate world, excelling as a salesman at Xerox Corporation. This period honed his communication and persuasion skills, laying the groundwork for his future success as an author and speaker.
The entrepreneurial bug, however, never left Kiyosaki. In 1977, he launched his first venture, “Rippers,” a company selling nylon and Velcro surfer wallets. Initial success was promising, but ultimately, the company filed for bankruptcy. This early setback, often downplayed in his books, proved a crucial turning point, teaching him valuable lessons about market trends, business management, and the importance of risk mitigation.
Undeterred by his earlier failure, Kiyosaki teamed up with real estate investor Jim Rohn in 1985, establishing a company that focused on real estate education and investment. This partnership proved pivotal, allowing Kiyosaki to gain practical experience and refine his financial philosophies. In 1997, he took the plunge and published “Rich Dad Poor Dad,” a book that challenged conventional views on wealth creation and advocated for financial education from a young age. The book’s phenomenal success launched him into the spotlight, transforming him into a sought-after speaker and financial guru.
Kiyosaki’s impact extends far beyond his bestselling book. He established “The Rich Dad Company,” offering educational programs, seminars, and board games designed to empower individuals to take control of their finances. While his methods have attracted criticism for advocating certain investment strategies, his relentless focus on financial literacy and entrepreneurial thinking has undoubtedly inspired countless individuals to pursue their financial goals.
Despite his public persona, Kiyosaki maintains a relatively private personal life. Married to Kim Kiyosaki since 1986, the couple reportedly considers their company their “family,” choosing not to have children of their own. This decision, while personal, reflects their dedication to their mission of financial education and empowering others to build their legacies.
Philanthropy and Activism
Kiyosaki’s early career saw him serve in the US Marine Corps during the Vietnam War, instilling in him a deep respect for military service and veterans. This commitment translated into action, with Kiyosaki actively supporting numerous veterans’ charities like the Wounded Warrior Project and the Disabled American Veterans.
Kiyosaki’s activism extends beyond financial contributions. He views financial literacy as a cornerstone of individual empowerment, believing that knowledge unlocks the potential for informed decision-making and financial independence. This conviction led him to establish Rich Global Education, a company dedicated to providing financial education programs and resources to individuals worldwide.
His activism further manifests in his vocal criticism of the traditional financial system and the Federal Reserve. Through books, speeches, and social media, Kiyosaki advocates for financial literacy reform, urging individuals to take control of their finances and challenge established norms. Whether one agrees with his specific views or not, his constant questioning and encouragement spark crucial conversations about financial systems and individual responsibility.
Kiyosaki’s investment portfolio reflects his desire to create positive change alongside financial returns. He actively invests in businesses that align with his values, such as sustainable real estate projects and educational initiatives. This approach demonstrates his commitment to using his financial resources to create a more equitable and sustainable future.
Beyond philanthropy and activism, Kiyosaki’s influence extends to shaping personal finance discourse. His books, seminars, and online presence have inspired millions to pursue financial independence and challenge conventional thinking. While his ideas sometimes stir controversy, his undeniable impact on financial education and empowerment cannot be understated.
Assets and Investments
Kiyosaki’s financial journey began with two contrasting influences: his biological father, a highly educated public employee (“Poor Dad”), and his friend’s father, a successful entrepreneur (“Rich Dad”). This unique perspective shaped his understanding of money and the difference between working for income and building assets that work for you.
At the heart of Kiyosaki’s philosophy lies the distinction between assets and liabilities. Assets, he argues, put money in your pocket, such as businesses, rental properties, and intellectual property. Conversely, liabilities drain your resources, like your home (unless generating rental income) or consumer debt. His mantra, “It’s not how much money you make, but how much you keep,” emphasizes acquiring assets that generate passive income, freeing you from the rat race.
Kiyosaki considers real estate a cornerstone of his investment strategy. He sees it as a tangible asset that can appreciate in value, provide rental income, and offer tax advantages. His early real estate ventures, documented in “Rich Dad Poor Dad,” highlight the power of leverage and creative financing to build a portfolio.
While real estate forms the foundation, Kiyosaki champions venturing beyond traditional investments. He advocates owning businesses, which can offer significant income potential and equity growth. He also emphasizes the value of intellectual property, such as patents and copyrights, that can generate passive income through royalties and licensing fees.
Kiyosaki acknowledges the role of stocks and bonds in a diversified portfolio but emphasizes caution. He views them as volatile and requiring careful research and risk management. His focus remains on assets that provide more control and potentially higher returns.
Kiyosaki’s ideas have garnered both praise and criticism. Some hail him as a financial liberator, while others question the accuracy of his claims and the suitability of his strategies for all investors. Regardless of opinion, his books have sparked global conversations about financial literacy and alternative wealth-building paths.
Whether you agree with his every word or not, Kiyosaki’s impact on financial education is undeniable. He has challenged traditional thinking, encouraged financial literacy, and inspired countless individuals to pursue asset-based wealth creation. His journey, from humble beginnings to financial guru, stands as a testament to the power of unconventional thinking and the pursuit of financial freedom.
In 1997, fate brought Kiyosaki together with Sharon Lechter, a licensed CPA and financial educator. Recognizing a shared passion for financial literacy, they embarked on a partnership that would redefine personal finance education. Together, they co-authored the groundbreaking “Rich Dad Poor Dad” in 1997, a book that challenged traditional financial beliefs and sold over 32 million copies, becoming a global phenomenon. Lechter’s expertise in accounting and tax law balanced Kiyosaki’s entrepreneurial spirit, creating a synergy that resonated with millions. Their collaboration extended beyond authorship, with Lechter co-founding The Rich Dad Company, and serving as its CEO for over a decade. This partnership laid the foundation for Kiyosaki’s financial education empire, impacting countless lives.
In 2006, Kiyosaki surprised many by teaming up with real estate mogul Donald Trump to co-author “Why We Want You to Be Rich.” Despite their seemingly contrasting political and personal styles, both shared a strong belief in financial independence and entrepreneurship. The book offered insights into their approaches to wealth creation, sparking public discussions and debates. While the collaboration was short-lived, it presented a unique perspective on wealth-building strategies, highlighting the value of diverse viewpoints in the financial realm.
Beyond professional collaborations, Kiyosaki’s personal life plays a significant role in his journey. His wife, Kim, has been a constant source of support and inspiration. Together, they co-authored several books, including “Rich Dad Poor Dad for Women” and “The Business School for People Who Want to Be Rich.” Kim’s practical approach and focus on empowering women entrepreneurs provided a necessary counterpoint to Robert’s broader financial philosophies. Their partnership serves as a testament to the power of collaboration within families, showcasing the strength that shared goals and values can bring.
For those seeking deeper dives into financial intricacies, Kiyosaki partnered with John T. Reed, a respected financial advisor and author. They collaborated on the Rich Dad Education program, offering in-depth courses on real estate investing, asset protection, and financial strategies. Reed’s expertise complemented Kiyosaki’s big-picture approach, providing readers with practical tools and actionable steps. This collaboration catered to a specific audience seeking guidance beyond the theoretical principles explored in Kiyosaki’s books.
Robert Kiyosaki’s collaborative spirit extends beyond specific partnerships. He actively fosters a strong community of entrepreneurs and investors through The Rich Dad Company. This platform connects individuals, facilitates discussions, and provides educational resources, creating a collaborative environment where members learn from each other’s experiences and insights. This broader collaboration empowers individuals to leverage the collective wisdom of the community, fueling their financial journeys.
Awards and Nomination
Kiyosaki embarked on a path far from finance. He graduated from the United States Merchant Marine Academy in 1969 and served in the US Marine Corps during the Vietnam War. Witnessing the financial struggles of his biological father (the “poor dad”) and the financial success of his friend’s father (the “rich dad”) planted the seeds of his financial curiosity.
Following his military service, Kiyosaki ventured into various entrepreneurial endeavors, experiencing both successes and failures. In 1997, he co-authored “Rich Dad Poor Dad,” a book that challenged conventional financial wisdom and introduced the concept of financial education as the cornerstone of wealth creation. The book, though initially rejected by traditional publishers, became a runaway success, selling over 32 million copies worldwide and sparking international conversations about financial literacy.
While Kiyosaki has not received any major awards or nominations from established financial institutions, his impact extends far beyond such accolades. He has established Rich Global Education, an investment education company providing financial literacy programs around the world. His books have sparked discussions and inspired individuals to take control of their finances, fostering a more financially aware generation.
Robert Kiyosaki’s work has not been without criticism. Some financial experts find his advice oversimplified and criticize his lack of formal financial qualifications. Others raise concerns about the aggressive nature of his investment strategies. However, these criticisms also highlight the impact of his work in challenging conventional financial thinking and prompting deeper discussions about financial education.
Ultimately, Robert Kiyosaki’s influence extends beyond the limitations of awards and nominations. He has empowered individuals to take ownership of their financial future, sparking a conversation about financial literacy that continues to this day. His unique perspective, informed by diverse experiences and unconventional thinking, has challenged norms and ignited a passion for financial independence in millions around the world.
Significant Life events
Born in Hilo, Hawaii, in 1947, Robert Kiyosaki grew up with two distinct financial influences: his biological father, a highly educated government employee, and his friend’s father, a successful entrepreneur. These contrasting perspectives on money and career paths laid the foundation for Kiyosaki’s later financial philosophies. After graduating from the prestigious Kings Point Merchant Marine Academy in 1969, Kiyosaki served as a helicopter pilot in the Marine Corps during the Vietnam War. This experience instilled in him valuable lessons about leadership, discipline, and facing fear head-on.
Following his military service, Kiyosaki entered the corporate world, quickly rising to become a top salesperson at Xerox. While achieving financial success, he felt trapped in the traditional “rat race” and yearned for greater control over his financial destiny. He dabbled in various entrepreneurial ventures, experiencing both successes and failures, further solidifying his desire to break free from conventional financial thinking.
The turning point in Kiyosaki’s life came in 1985 when he met Sharon Lechter, a CPA and educator. Together, they co-authored “Rich Dad Poor Dad” in 1997, a financial self-help book that challenged traditional notions of wealth creation. The book became a runaway bestseller, sparking controversy and igniting passionate discussions about financial literacy and entrepreneurship.
Capitalizing on the success of “Rich Dad Poor Dad,” Kiyosaki and Lechter co-founded The Rich Dad Company in 1997. This venture expanded beyond books, offering educational products, seminars, and workshops aimed at teaching financial literacy and promoting alternative investment strategies. Kiyosaki became a sought-after speaker and investor, spreading his message across the globe and garnering a devoted following.
Impact and legacy
Robert Kiyosaki’s path diverged from the mainstream early on. His biological father, a highly educated government employee, encouraged academic achievement and job security. Conversely, his friend’s father, a successful entrepreneur, instilled in him the value of business ownership and passive income. These contrasting perspectives became the foundation of his “Rich Dad Poor Dad” philosophy, highlighting the different approaches to wealth creation.
Following graduation from the U.S. Merchant Marine Academy, Kiyosaki served as a helicopter pilot in the Vietnam War. After his service, he embarked on a series of entrepreneurial ventures, experiencing both successes and failures. These experiences, he asserts, shaped his unconventional financial strategies and fueled his desire to share them with the world.
In 1997, Kiyosaki co-authored “Rich Dad Poor Dad,” a book that would spark a financial revolution. Written in an accessible, anecdotal style, the book challenged conventional wisdom on money, advocating for building assets that generate income (like businesses and real estate) instead of liabilities (like cars and houses). The book’s message resonated with millions, becoming a New York Times bestseller and translated into multiple languages.
Fueled by the book’s success, Kiyosaki built a financial empire encompassing educational seminars, investment products, and additional books. His “Rich Dad” brand became synonymous with financial education, attracting both ardent followers and harsh critics.
Kiyosaki’s impact on financial literacy is undeniable. He introduced key concepts like financial independence, asset building, and cash flow to a global audience, encouraging individuals to take control of their finances. However, his methods and claims have also sparked controversy. Critics argue that his financial advice is oversimplified, sometimes misleading, and lacks academic rigor. Additionally, his business ventures have faced scrutiny, raising concerns about the legitimacy of his teachings and their potential to exploit vulnerable individuals.
What is Robert Kiyosaki’s Net Worth?
Robert Kiyosaki’s net worth is estimated to be around $100 Million.
Where and when was Robert Kiyosaki born?
Robert Kiyosaki was born in Hilo, Hawaii on April 8th, 1947.
What did Robert Kiyosaki parents do for a living?
Robert Kiyosaki’s biological father was an educator and his stepfather was a successful businessman. These contrasting experiences heavily influenced his financial philosophy.
Is Robert Kiyosaki married?
Yes, Robert Kiyosaki is married to Kim Kiyosaki.
Does Robert Kiyosaki have any children?
No, Robert Kiyosaki does not have any biological children.
Where does Robert Kiyosaki live now?
Robert Kiyosaki resides in Phoenix, Arizona.
Is Robert Kiyosaki involved in any philanthropic endeavors?
Yes, Robert Kiyosaki supports various educational initiatives aimed at promoting financial literacy.
What are some of Robert Kiyosaki’s specific causes?
He advocates for financial education in schools and supports organizations like the Investor Education Foundation.
What was Robert Kiyosaki’s first job?
He started his career as a sales representative for Xerox.
What is Robert Kiyosaki known for today?
He is primarily known as the author of the best-selling book “Rich Dad Poor Dad” and a financial educator.
What other businesses has Robert Kiyosaki been involved in?
Robert Kiyosaki has owned several businesses, including real estate ventures and educational companies.
Who is Sharon Lechter in relation to Robert Kiyosaki?
Sharon Lechter co-authored “Rich Dad Poor Dad” with Kiyosaki and contributed significantly to its development.
Has Robert Kiyosaki collaborated with anyone else on his projects?
Yes, he has collaborated with financial experts, real estate investors, and other authors on various books and educational programs.
Has Robert Kiyosaki received any awards for his work?
He has received various awards, including the T.R. Fehrenbach Award for Excellence in Financial Education.
Is Robert Kiyosaki recognized as a successful author and entrepreneur?
He is a financially successful individual and his books have achieved international acclaim, although his financial advice and tactics are sometimes controversial.
What was the impact of Robert Kiyosaki’s military service?
His time in the Vietnam War significantly influenced his perspective on life and finances.
What other significant events have shaped Robert Kiyosaki’s journey?
His early exposure to contrasting financial realities from his biological and stepfather, as well as his business successes and failures, played a vital role.
How has Robert Kiyosaki impacted the world of personal finance?
He has sparked conversations about financial education and alternative investment strategies, although his views and advice are not universally accepted.
What is Robert Kiyosaki’s lasting legacy?
His influence on financial literacy, particularly through “Rich Dad Poor Dad,” is undeniable, yet its lasting impact is subject to individual interpretation.
What is Robert Kiyosaki’s favorite book (besides his own)?
He has cited “Think and Grow Rich” by Napoleon Hill as a book that significantly influenced him.
Does Robert Kiyosaki have any hobbies or interests outside of finance?
Robert Kiyosaki enjoys surfing, playing guitar, and spending time with family.