Robert Kiyosaki

Rich Dad Poor Dad, a personal finance text authored by Robert Kiyosaki, has sold nearly 40 million copies since its initial publication. Born in Hilo in 1947, the United States citizen built a career as a writer, teacher, and entrepreneur, ultimately establishing a global brand centered on the dissemination of financial and business education through various multimedia platforms.

Military and Academic Background

Before pursuing a business career, Kiyosaki attended Manoa Elementary School and Hilo High School. In 1965, he enrolled at the United States Merchant Marine Academy, graduating four years later as a deck officer. His service history includes a period as a helicopter gunship pilot during the Vietnam War, for which he received the Air Medal. He was once based in Kaneohe Bay during his military tenure.

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Early Business Ventures

Kiyosaki’s initial commercial attempts included a 1977 company named Rippers, which marketed Velcro and nylon wallets, and later enterprises focused on T-shirts and surfing bags. All these early ventures resulted in bankruptcy. Following these failures, he worked as a sales associate at Xerox until 1978. In the 1980s, he transitioned into motivational speaking, notably operating the Money and You course, a program he took over from Marshall Thurber in 1984.

The Rich Dad Brand and Litigation

In 1993, Kiyosaki authored his first book, which challenged traditional academic pathways. He later founded Cashflow Technologies in 1997 to manage his expanding educational brand. The company produced board games and various training materials. Over the decades, his operations faced significant scrutiny, including a 2012 bankruptcy filing for Rich Global LLC, which carried nearly $26 million in liabilities. His business practices have also been the subject of several investigative documentaries by media outlets such as the CBC and CBS News.

Investment Philosophy

Kiyosaki advocates for the acquisition of assets through debt leverage and frequently promotes the purchase of gold, silver, and cryptocurrency. He maintains that financial independence is achieved through passive income rather than traditional employment. As of January 2024, he reported holding over $1 billion in debt, which he uses to acquire real estate and other financial assets. His seminars have often been criticized for their high costs and the effectiveness of the investment strategies presented.