New Delhi. Robert Kiyosaki is one of the most read authors globally, famous for his book ‘Rich Dad, Poor Dad’ which has garnered significant attention. Best-selling authors often share advice on personal finance, and Kiyosaki recently made an interesting revelation about himself: He revealed he has more than a billion dollars in debt.
Kiyosaki shared this information on his Instagram while acknowledging the debt of $1.2 billion, which is equivalent to approximately ₹10,000 crore in Indian currency. He frequently discusses his debts publicly, taking a view on debt that differs significantly from common understanding. The author believes that availing credit helps in building wealth. “I have a debt of $1.2 billion,” he argues. If I fail, the banks will fail. This is not my problem.” Kiyosaki claims that he used borrowed funds to acquire property rather than saving it in cash, thus accumulating debt while investing in property. This strategy has contributed to the increase in their indebtedness over time.
He once mentioned his interest in gold and silver, saying that he owned tons of silver and gold. He highlighted, “I don’t have copper. I have tons of silver. I had a silver mine in Argentina, which was bought by the Canadian mining company Yamana Gold. I have tons of gold and silver.”
Kiyosaki differentiates debts as ‘good debts’ or ‘bad debts’. In the field of personal finance, this classification revolves around whether the loan, when invested, gives returns greater than the interest paid on it. He advocates availing loans to invest in wealth generating assets like real estate. According to him, this approach converts borrowed money into investments that generate wealth. His famous book, ‘Rich Dad, Poor Dad’, published in 1997, has sold more than 40 million copies worldwide. Kiyosaki challenges the notion that accumulating wealth only involves earning a lot of money. Instead, he advocates taking calculated risks to start your own venture and generate wealth. His current estimated net worth is around $100 million.