‘Rich Dad Poor Dad’ author Robert Kiyosaki says he has $1.2 billion in real-estate debt, but ex-wife Kim Kiyosaki clarified the figure is tied to jointly held properties. Experts say such leverage can work but carries major risks if property values or cash flow decline.
Washington: 'Rich Dad Poor Dad' author Robert Kiyosaki has amassed about USD 1.2 billion in debt tied to his real-estate investments, according to a report by the New York Post, but his ex-wife and business partner Kim Kiyosaki has clarified that the figure does not represent the amount he personally owes.
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The 79-year-old author has repeatedly cited the USD 1.2 billion figure while presenting debt as a tool for acquiring income-producing assets. "So, I'm a billion two in debt," he said on the 'Get Rich Education' podcast over the summer, as quoted by New York Post.
Kiyosaki also cautioned listeners against copying his approach without understanding the risks.
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