How much is Robert Kiyosaki worth?
| Net Worth: | $85 Million |
|---|---|
| Profession: | Businessman & Author |
| Date of Birth: | April 8, 1947 (age 75) |
| Country: | United States of America |
| Height: | 5 ft 6 in (1.7 m) |
About Robert Kiyosaki
Robert Kiyosaki is an American financial guru and motivational speaker. He has spent much of his life involved in the business of giving financial advice. Kyosaki was born in Hawaii in 1947, and after graduating from the US Merchant Marine Academy spent a short period as a merchant seaman before joining the US Marine Corps. He saw some action while serving in Vietnam. Subsequently he founded a company making velcro-fastened wallets for surfers, and another producing clothing and accessories for rock bands.
Often compared to the likes of Tony Robbins, nowadays Kiyosaki spends as much time training entrepreneurs and holding seminars, as he does in his own business dealings. Both of these activities have been incredibly financially rewarding for him. In 1985 Kiyosaki co-founded the Accelerated Learning Institute to promote business education. He sold the company in 1994.
Robert Kiyosaki’s fame dates from 1997 when he founded Cashflow Technologies Inc. This company, in turn owns the Rich Dad and Cashflow brands. He also owns Whitney Information Network, the Rich Dad Academy and Rich Dad Education.
It is these companies that are basis of his success and for the financial advice that he promotes. Rich Dad is operated as a franchise, where independent financial advisors use the Rich Dad name and materials to run seminars and group sessions of their own. The company gets its name from the Rich Dad Poor Dad books that Kyosaki authored in the mid 1990’s. His reputation and fame stem from the publication of this book and the many others that followed it. The first book has been translated into some 51 languages, and has been a consistent best seller.
Essentially, Kiyosaki preaches that everyone should treat their finances with some respect. He treats everything that makes money as an asset. This includes stocks and shares, real estate and businesses. These all produce an income in the form of dividends, rents and profits. Liabilities, on the other hand, he says, are those things that take money away such as loans, mortgages and credit card payments. He is a firm believer in building up assets that will provide an income, rather than relying on a salary or savings in cash. Having assets means you will always be able to pay out to cover liabilities.
Kiyosaki has also attracted attention for some of the advice that he gives those who attend his seminars or buy his books. Some people have complained that his seminars are not good value for money, while others claim that some of the practices he suggests are of dubious legality. In spite of this, there are many people who follow his advice and are convinced of its value.
Robert Kiyosaki is thought to be worth between $85 million dollars to what some speculate as high as $100 million dollars. The bulk of his fortune comes from the franchise payments he receives in return for granting the use of the Rich Dad brand. He also has the royalties on a long list of books, almost all concerned with financial advice. He receives fees for seminars and events where he gives motivational talks. Kiyosaki also has other business interests, including a South American silver mine which he acquired in 2002. He also owns a large real estate portfolio, mostly apartments. The latest estimate gives a holding of some 10,000 homes.
Kiyosaki claims he earns an estimated $1.5 to $2 million per month from his various business interests. While this figure cannot be verified, it is likely that his income is high given the range of his business activities. His apartments alone yield an estimated 1 million per month.
Robert Kiyosaki is certainly a successful businessman, with a string of businesses and a property portfolio that yields very high rental income. He is successful because he follows his own advice. He concentrates on investments and the holding of assets. His liabilities are bound to be high, but his assets produce an income well in excess of what he needs to cover the liabilities. The advice he gives comes from his own experiences. He was not always successful and suffered several setbacks early in his career. He learned from them and made sure that he garnered the knowledge he needed to become a success story.
Kiyosaki often stresses the power of knowledge. With knowledge comes opportunities, and taking them at the right time leads to success. Everyone should also be energetic and be prepared to act when action is needed. Success only comes to those who work for it. Those who are not prepared to work will fail. There are lessons to be learned from failure, but the best lesson is not to make the mistakes that others have already made. Knowledge will help to avoid those mistakes.
Summing-Up
Robert Kiyosaki is a very successful businessman and financial guru. His success if an inspiring example of how following his advice will themselves succeed. It just needs faith and self-belief, and, of course, the ambition to succeed. Kiyosaki has all of those qualities and is keen to persuade us that we need to develop them too.
