Renowned entrepreneur and personal finance author, Robert Kiyosaki, famed for his 1997 bestseller “Rich Dad Poor Dad,” has left his Instagram followers stunned with a surprising revelation. The 76-year-old financial guru shared in a recent post that he finds himself in more than $1.2 billion in debt.
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In an Instagram reel posted on November 30, Kiyosaki openly discussed his unconventional financial strategies, detailing how he separates assets and liabilities. Notably, he revealed that he has written off luxury vehicles, including his Rolls-Royce and Ferrari, as part of this approach.
Kiyosaki, known for his controversial views, also took a strong stance against holding cash, citing the abandonment of the gold standard in 1971 by the United States. Instead of traditional currency, he converts his earnings into silver and gold, a move that has contributed to his significant debt. In the video, he asserted, “If I go bankrupt, the bank goes bankrupt. That’s not my problem.”
The financial expert emphasized his preference for “real assets” such as Bitcoin, silver, Wagyu cattle, and gold in his investment portfolio. He expressed a lack of trust in the US dollar, referring to cash as “trash.”
This recent revelation echoes Kiyosaki’s sentiments shared during an interview with StockPulse at the 2022 Vancouver Resources Investment Conference. He highlighted silver and gold as his long-term investments, mentioning his previous involvement in the mining industry.
Kiyosaki did not shy away from expressing his controversial opinions on societal issues. In a statement, he questioned why the police, who protect society, are criticized. He also criticized leaders for supporting what he termed as “losers” and suggested a month’s leave for law enforcement.
Furthermore, Kiyosaki shared his unconventional solution to addressing inequality, which included free college degrees, no tests required, free housing, and even free Ferraris. He labeled this vision as his “idea of hell,” opposing the elite’s dream of utopia.
Despite these revelations, Kiyosaki’s bestselling book, “Rich Dad Poor Dad,” continues to stand as a financial classic, with over 70 million copies sold since its release.
