'Rich Dad, Poor Dad's' Robert Kiyosaki Says He's $1.2 Billion In Debt Because 'If I Go Bust, The Bank Goes Bust. Not My Problem' - eviltoast
Robert Kiyosaki, a best-selling author and seasoned investor, has a distinct philosophy on debt and investment. In a Nov. 30 Instagram reel, Kiyosaki elaborated on his debt philosophy, highlighting a critical distinction between assets and liabilities. He said many people use debt to buy liabilities, while he uses debt to purchase assets. To illustrate his approach, Kiyosaki said his luxury vehicles, like a Ferrari and a Rolls Royce, are fully paid off, categorizing them as liabilities rather th
  • FuglyDuck@lemmy.worldEnglish
    71·
    10 months ago

    Some of those loans are predicated on extremely inflated business dealings. For example, in the NY fraud trial, the collateral was Trump’s properties. Some of those loans, as already mentioned, were also straight up bribes.

    also its extremely unlikely this guy is going to be somebody that people want to bribe. Remember, mortgages count against networth, so this guy isn’t that rich.