‘Rich Dad Poor Dad’ author, Robert Kiyosaki, reveals he is $1.2bn in debt

Robert Kiyosaki, author of the best-selling personal finance book, ‘Rich Dad Poor Dad’, has revealed that he is $1.2 billion in debt through his real estate investments.

The 79-year-old financial educator disclosed this while speaking on the Get Rich Education podcast, where he explained that borrowing money to acquire income-generating assets is part of his investment strategy.

“So, I’m a billion two in debt,” Kiyosaki said.

He, however, cautioned people against blindly copying his approach, noting that using debt as a wealth-building tool requires proper knowledge.

“Should not do what I do, right? But I studied it since 1974… If you’re going to learn to use debt, you’d better take some education,” he added.

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Kiyosaki’s former wife and business partner, Kim Kiyosaki, later explained that the $1.2 billion figure does not mean the author personally owes the entire amount.

According to her, much of the debt is tied to their real estate investments, which include about 1,500 apartment units owned with business partners.

“So technically, yes, we have all this debt,” Kim said, adding that Kiyosaki’s personal share of the debt is relatively small.

The investment strategy involves borrowing against the increased equity of properties as their values rise, with the proceeds treated as loans rather than taxable income.

Kiyosaki also reportedly places individual investments in separate limited liability companies to protect them from problems that may affect other investments.

“If it all comes to hell, you can talk to my attorney,” he said.

“Firewalls — that’s the way the rich play the game.”

Despite Kiyosaki’s claim of $1.2 billion in debt, Vanity Fair estimated that his personal share could be…