Robert Kiyosaki: The Man Who Made Financial Literacy Mainstream

Robert Kiyosaki is an American author and businessman who became famous for his Rich Dad, Poor Dad series of self-help finance books. He founded the Rich Dad Company that offers personal finance and business education through videos and books, and Rich Global LLC.

The book ‘Rich Dad Poor Dad’ became a big hit in 1997. Originally, it was self-published, but later Warner Books picked it up. Before long, the book became one of the New York Times' bestsellers and stayed there for six years. In 2000, Oprah featured Robert on her show and brought his concept of ownership and passive income to more people. 

Robert Kiyosaki - Early Life
Robert Kiyosaki - Career Highlights
Robert Kiyosaki - Business and Financial Acumen
Robert Kiyosaki - Criticism
Robert Kiyosaki - Personal Life
Robert Kiyosaki - Political Views
Robert Kiyosaki - Books Published
Robert Kiyosaki - Tips for Financial Success

Robert Kiyosaki - Early Life

Robert was born in 1947 in Hilo, Territory of Hawaii, to his parents (father Ralph, and mother Marjorie) of Japanese origin. He is the eldest of four children; one of his sisters, Tenzin Kacho, was a nun ordained by the Dalai Lama. His brother is in property management, while his other sister is a graphic designer.

Ralph, Robert’s father, was an educator and even went on to become Hawaii’s superintendent of schools.  He also ran for lieutenant-governor on the Republican Party ticket in the 70s Hawaii gubernatorial election. But sadly, he was not successful. 

Post the election, he lost his job and used his savings to purchase an ice-cream franchise, but that also failed. He then started working for labor unions.

Before moving to Hilo, Robert attended Manoa Elementary School. Later, he graduated from Hilo High School, and in 1965, he attended the US Merchant Marine Academy. After graduating four years later, he was a deck officer. 

After sailing as a midshipman, he became an officer in the US Marine Corps. He also served as a helicopter pilot in the Vietnam War.

Robert Kiyosaki - Career Highlights

Robert started a company in 1977 called ‘Rippers’ that marketed Velcro and nylon wallets. But sadly, the company went bankrupt in a year, and Robert joined Xerox as a sales associate until June 1978.

During the 1980s, he became a motivational speaker in San Diego and taught a course in Erhard Seminars Training techniques called ‘Money and You’. He then connected with Marshall Thurber, and in 1984, Thurber transferred the business to Robert and D.C. Cordova. They expanded the course globally and at one point had over tens of thousands of students. 

Sadly, the business almost collapsed in Australia in 1993 after the Australian Broadcasting Corporation’s documentary Four Corners aired about emotional abuse in the course. Robert considered suing the network but decided against it, and finally left the business in 1994.

In 1993, Robert published his first book, ‘If You Want to Be Rich and Happy, Don’t Go to School?’. This book encouraged parents to let their children experiment and enter the real estate business, but not to go to college. Robert then founded Cashflow Technologies in 1997. 

In 2002, it operated the Rich Dad brand. He also created the Cashflow board and video games to educate children and adults about financial and business concepts.

Robert Kiyosaki - Business and Financial Acumen

Robert has authored more than 20 books that include his bestseller Rich Dad, Poor Dad, which has been translated into multiple languages. Over 40 million copies of the book have been sold across the globe. 

His financial teachings mostly cover passive income opportunities, as he comments that wealth cannot be achieved by simply going to school and getting a traditional job. He advocates using ‘good debt’ to leverage the purchase of financial assets such as real estate. Also, he believes in buying gold and silver and calls it ‘God’s money’.

Robert Kiyosaki - Criticism

Robert has been in the middle of multiple controversies that include his ideologies of passive income. In 2010, the Canadian Broadcasting Corporation’s Marketplace broadcast released their documentary based on the scams being conducted by his company in Canada, as the Rich Dad seminars. 

The seminar claimed that investing in trailer parks and trailers was a lucrative business. Instead, it turned out to be barren and unused land.

Again in 2010, Allan Roth of CBS News dissected the tactics of the Rich Dad free seminar and called them scams.

WTAE-TV, the ABC network in Pittsburgh, produced a segment about Robert in 2013. He has been heavily criticized for telling seminar attendees what to do, but not how to do it. 

Robert Kiyosaki - Personal Life

Robert divorced his first wife when he was only 32, and married his business partner, Kimberly Kiyosaki, in 1986. But they amicably divorced in 2017. Robert does not have any children as he considers them to be too expensive.

Robert Kiyosaki - Political Views

Robert supported and endorsed Donald Trump’s presidential election in 2016. It was at the same time that Robert and Donald Trump authored two books. He is a Republican and highly criticised Bernie Sanders for being a ‘hardcore Marxist’. 

Robert Kiyosaki - Books Published

• Rich Dad Poor Dad – What the Rich Teach Their Kids About Money – That the Poor and Middle Class Do Not! (first published in 1997) 
• Cashflow Quadrant: Rich Dad's Guide to Financial Freedom (2000). 
• Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! (2000).
• The Business School for People Who Like Helping People (March 2001).
• Rich Dad's Rich Kid, Smart Kid: Giving Your Children a Financial Headstart (2001). 
• Rich Dad's Retire Young, Retire Rich (2002).
• Rich Dad's Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming… and How You Can Prepare Yourself and Profit from It! (2002). 
• Rich Dad's The Business School: For People Who Like Helping People (2003) 
• Rich Dad's Who Took My Money?: Why Slow Investors Lose and Fast Money Wins! (2004)
• Rich Dad, Poor Dad for Teens: The Secrets About Money – That You Don't Learn in School! (2004) 
• Rich Dad's Before You Quit Your Job: 10 Real-Life Lessons Every Entrepreneur Should Know About Building a Multimillion-Dollar Business (2005).
• Why We Want You to Be Rich: Two Men, One Message (2006) with co-authors Donald Trump, Meredith McIver, and Sharon L. Lechter. 
• Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money (2008). 
• Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money (2009). 
• The Real Book of Real Estate: Real Experts. Real Stories. Real Life. (2009) 
• An Unfair Advantage: The Power of Financial Education (2011). 
• Midas Touch: Why Some Entrepreneurs Get Rich And Why Most Don't (2011), with coauthor Donald Trump. 
• Why 'A' Students Work for 'C' Students and Why 'B' Students Work for the Government: Rich Dad's Guide to Financial Education for Parents (2013).
• The Business of the 21st Century (2010), co-written with John Fleming and Kim Kiyosaki 
• Second Chance: for Your Money, Your Life and Our World (2015).
• 8 Lessons in Military Leadership for Entrepreneurs: How Military Values and Experience Can Shape Business and Life (2015) 
• Why the Rich are Getting Richer: What is Financial Education...Really? (2017) 
• FAKE: Fake Money, Fake Teachers, Fake Assets: How Lies Are Making the Poor and Middle Class Poorer (2019) 
• Who Stole My Pension?: How You Can Stop The Looting (2020)
• Capitalist Manifesto (2021) 

Robert Kiyosaki - Tips for Financial Success

• Robert advises people to save less than they spend, but to spend wisely.
• Budgeting is one of the most important aspects of financial success.
• To save money, passive income is the only option. Robert considers the best way is by owning real estate.
• Learn to delay gratification and only buy things with cash
• Refrain from going into debt by purchasing luxuries or a house with a mortgage that is too much. 

FAQs

Who is Robert Kiyosaki?

Robert Kiyosaki is an American businessman, author, and financial educator, best known for his bestselling book Rich Dad Poor Dad and the Rich Dad series that teaches personal finance and investing.

When was Rich Dad Poor Dad published?

Rich Dad Poor Dad was originally self-published in 1997. It later became a New York Times bestseller and stayed on the list for six years.

Did Robert Kiyosaki serve in the military?

Yes. After graduating from the US Merchant Marine Academy, Kiyosaki served as a Marine Corps officer and helicopter gunship pilot during the Vietnam War.