Rich Dad, Bankrupt Dad

[ey3s0nly]

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has anyone heard of this already? share your thoughts...
“Rich Dad, Poor Dad” author Robert Kiyosaki files for corporate bankruptcy - NYPOST.com

After a long, lucrative career writing financial self-help books and giving seminars, “Rich Dad Poor Dad” author Robert Kiyosaki has filed for bankruptcy for one of his companies after losing a $24 million court judgment.

[makie]

The title is somewhat misleading. Kiyosaki declared bankruptcy on one of his companies but the others are still doing so well.
But this should hurt his reputation big time. Tikasan man diay. LOL!

[ey3s0nly]

sorry, just copied the title from the article.
and yeah, I agree.. it does hurt his image.. one would think he'd practice what he preaches...

[mbneiz]

I was able to read it in dailymail this morning... one of his company rman ang na bankrupt dili jd cya...

[moz_k2]

After a long battle Learning Annex won the lawsuit.
But Rich Global is stripped to a shell, then filed for bankruptcy.
Kiyosaki lost the lawsuit battle but won the war, he don't have to pay anything.

Another thing Rich Global is a LLC type corporation
meaning the owner is protected from liabilities and debts of the company.

As Ambrose Bierce said:"Corporation is an ingenious device for obtaining profit without individual responsibility."

I wonder what will his next book be about.

[Dorothea]

snake oil salesman is what he is...

[cirext]

I would assume his promise to Learning Annex of a percentage is written in contract, otherwise this case would be dumped.

This will hurt Kiyosaki BIGTIME! With the lost of reputation, the pillars of any other company left will fall like dominoes.
Rich Global LLC has assets of $15M only...short to pay the $24M court judgement. So he has to pull other resources.
After this, people will start questioning any other product he is planning to launch.

[ey3s0nly]

the love of money is the root of all evil.. hehe! how ironic

[balskie]

kompleto ra ba ko ug mga libro ni kiyosaki. syalan ba diay

[istoryamember]

sorry, just copied the title from the article.
and yeah, I agree.. it does hurt his image.. one would think he'd practice what he preaches...

I think he also preaches about bankruptcy so practice gihapon hehehehe.. I have read his books and somehow it opened my eyes about financial literacy. Pero wala ko nisunod sa iyang style LOL