Robert Kiyosaki is an American entrepreneur, investor, and author best known for his bestselling book Rich Dad, Poor Dad. Over the years, the renowned motivational speaker has built a remarkable career in financial education and real estate, among other industries. As of 2024, Kiyosaki’s net worth is estimated to be $100 million.
This article delves into Robert Kiyosaki’s journey to financial prowess, exploring his background, career, and how he built his massive net worth.
Facts about Robert Kiyosaki
| Full Name | Robert Toru Kiyosaki |
| Date of Birth | April 8, 1947 |
| Place of Birth | Hilo, Hawaii, USA |
| Nationality | American |
| Education | U.S. Merchant Marine Academy |
| Occupation | Businessman, Author, Financial Educator |
| Notable Works | The Rich Dad Poor Dad series |
| Wife | Kim Kiyosaki |
| Net Worth | Approximately $100 million (as of 2024) |
About Robert Kiyosaki
Kiyosaki’s financial philosophy emphasizes the importance of financial literacy. He advocates for practical knowledge over traditional classroom learning. His wealth-building philosophies promote investing in assets and businesses that generate passive income.
Throughout his career in financial education, Kiyosaki has highlighted the need for economic independence and strategic investing.
Early life and education
Robert Toru Kiyosaki was born on April 8, 1947, in Hilo, Hawaii, to Ralph H. Kiyosaki and Marjorie O. Kiyosaki.
Although he strongly criticizes the formal education system, Kiyosaki grew up in a family that valued education. His father held a Ph.D. and worked as an educator, but was unemployed when he died in 1991. Due to this, Kiyosaki would later ridicule those who went through the conventional education system.
After graduating from high school in 1965, Kiyosaki enrolled at the United States Merchant Marine Academy, a Naval College in New York. He graduated in 1969 with a degree in Marine Engineering and later joined the United States Marine Corps.
Kiyosaki fought in the Vietnam War as a helicopter gunship pilot from 1972 to 1973. He was awarded an Air Medal after his service. In most of his interviews, Robert said that his time with the United States Marine Corps helped him build the character needed in business.
After his service in Vietnam, Robert Kiyosaki joined a college in his hometown of Hilo, Hawaii. After graduating with an MBA, he started to try different business ventures. He started his first business in the late 1960s while working as a sales associate for Xerox.
Robert Kiyosaki’s turning point
Robert Kiyosaki’s first business, Rippers, sold nylon and velcro wallets, which were the first of their kind. The company enjoyed moderate success before going bankrupt in 1985, and consequently closing down.
After the closure of Rippers, Kiyosaki started investing in small-cap stocks and real estate.
His second business was a t-shirt-supplying retailer with exclusive rights to make apparel for various rock bands. Among the merchandise he made were t-shirts, hats, and wallets. Like the first one, this business also went bankrupt and closed down.
Robert Kiyosaki’s entry into educational businesses
Robert Kiyosaki’s net worth began building up when he shifted his focus to education. He started his first financial education company, the Accelerated Learning Institute, in 1985. Although the school taught social responsibility, its primary focus was financial education. Kiyosaki sold the company in 1994 for an unspecified amount to focus on other ventures, including his popular Rich Dad series.
In the mid-1990s, Kiyosaki began building the empire that would later earn him a massive net worth of $100 million.
The journey began when he published his first book, If You Want to Be Rich and Happy, Don’t Go to School. As the name suggests, this book criticized college education as the key to financial success and freedom. Instead, it encouraged students to take the path of real estate. During this time, Robert and his second wife, Kim Kiyosaki, were deeply involved in real estate.
The turning point
The most critical point in Kiyosaki’s journey to financial success came in 1997 when he founded Cashflow Technologies. This financial education company would later house most of Robert Kiyosaki’s brands, including the most successful one, the Rich Dad brand.
In the same year, Robert published his most famous book, Rich Dad, Poor Dad. This marked a pivotal moment in Kiyosaki’s career. In the book, Robert contrasts the financial philosophies of his biological father, the poor dad, to those of his best friend’s father, the rich dad.
The book has sold over 32 million copies globally and is a leading source of personal finance education. Rich Dad, Poor Dad laid the foundation for the Rich Dad series, which went on to include Cashflow Quadrant and Rich Dad’s Guide to Investing.
The Rich Dad empire
Rich Dad, Poor Dad enjoyed massive success worldwide, which paved the way to the founding of The Rich Dad Company. The company focuses on financial education, offering books, seminars, and online courses that teach people about personal finance and offer investment advice.
The Rich Dad Company has greatly influenced Robert Kiyosaki’s net worth growth, creating income through educational products and services. The Rich Dad brand also offers a board game, Cashflow, which interactively teaches individuals financial principles.
Real estate investments
In his first book, If You Want to Be Rich & Happy, Don’t Go to School, Robert Kiyosaki discourages students from pursuing a college education. He prefers real estate to the conventional education system.
Over the years, real estate has played a critical role in Kiyosaki’s net worth growth. He owns a large portfolio of properties, which he greatly advocates as a means of achieving financial success. He emphasizes the importance of leveraging debts in property acquisition and earning from real estate through rental income and property appreciation.
Other business ventures
Kiyosaki is a highly diversified investor, possessing many assets beyond real estate. He particularly advocates for silver and gold as safe investment havens, referring to them as a means of mitigating risk since inflation and currency devaluation do not affect them.
Criticism and controversies
Despite his massive success, Robert has faced multiple criticisms and controversies. Financial experts have argued that his advice is overly simplistic and could mislead unwitting individuals. Critics have also questioned his Rich Dad seminars for employing aggressive marketing tactics and high costs.
