‘Rich Dad Poor Dad’ self-help author Robert Kiyosaki is $1.2 billion in debt, but...

Robert Kiyosaki, the author of the self-help book "Rich Dad Poor Dad", is currently facing a staggering $1.2 billion in debt due to his extensive real estate investments. Despite this, he has actively promoted aggressive borrowing for cash-generating assets, framing it as a key strategy for wealth-building. Kiyosaki, now 79 years old, has been studying debt since 1974 and claims to have taken extensive education on the matter.

However, his ex-wife and business partner, Kim Kiyosaki, clarified that the debt does not represent money he personally owes, but is tied to their real estate portfolio, which includes approximately 1,500 units. Kiyosaki's personal share of the debt is reportedly between $30 million and $60 million, based on his claim that he earns around $3 million a year.

The strategy of leveraging real estate equity to unlock tax-free income through new loans is part of Kiyosaki's financial philosophy, which he advocates for. However, financial experts have expressed mixed views on this approach, with some praising it as a great strategy due to its tax benefits, while others caution against the risks involved, especially if property values decline.