15 Things You Didn't Know About Robert Kiyosaki

[Music] fifteen things you didn't know about robert kiyosaki welcome to a lox calm the place where future billionaires come to get inspired hello Alec SERS and welcome to another exciting original video presented by Alex calm today we're talking about entrepreneur businessman public speaker investor and author Robert Kiyosaki Robert Kiyosaki was born in Hilo Hawaii on April 8th 1947 he is best known for riding Rich Dad Poor Dad a New York Times best seller that sold over 26 million copies it has become the number one selling personal finance book of all time although it has attained its fair share of criticism for its unconventional financial advice and accounts of events that some think were made up his first book was actually published in 1991 with the title if you want to be rich and happy don't go to school he has written over 26 books that have been translated into 51 languages in 109 countries he has created financial board games and software and also invests in commercial and residential properties and oil wells he claims that his 10,000 apartment units bring in over 1 million dollars in cash flow every month in addition to the money he makes from book royalties and from licensing out his Rich Dad name if you're new here welcome be sure to subscribe and follow us on instagram at a luxe okay enough with the background let's get to the 15 things you didn't know about Robert Kiyosaki number one his first two companies went bankrupt Robert grew up in Hawaii and he noticed that surfers had a problem when it came to their wallets he noted that the traditional leather wallet was a burden at the beach and he saw a business opportunity in 1977 he started a company called rippers that sold the first nylon and velcro surfer wallets and was even featured in publications like Newsweek success magazine and playboy when he appeared on Oprah he cited his company as being responsible for making him a millionaire by the age of 30 what he failed to mention was the company went bankrupt largely due to Robert's failure to secure the proper patents and trademarks for his invention he then invested in real estate and small-cap stocks racking up a debt of close to a million dollars he also launched a company that licensed t-shirts hats and other apparel for heavy metal bands but that company went bankrupt as well in 1980 number two his book was turned down by numerous publishers before he decided to self-publish Robert blames his poor spelling and grammar' for his constant rejection when he pitched his book to a large number of publishing houses he eventually decided to self publish his book in 1997 he defends his way of writing saying he's not out to impress any literary critic but to communicate about money to the masses number three he flunked out of high school twice Roberts struggled as a student in high school particularly with English and writing he ended up failing twice before finally graduating number four he fought in the Vietnam War even though he was ineligible for the draft during the Vietnam War all eligible males who were born between 1944 and 1954 susceptible to the Vietnam War draft even though Robert was born in 1947 he was deemed ineligible because he was working as a third mate sailor for Standard Oil which was considered a non defensible vital industry however he ended up quitting the oil business and joined the Marine Corps as the Marine he became a helicopter gunship pilot in 1972 during the Vietnam War and was honorably discharged in 1974 he was awarded the Air Medal for his wartime service number five Robert retired at the age of 47 in 1985 Kiyosaki started an international education company that taught business entrepreneurship and investing he had tens of thousands of students throughout the world that followed his teachings even though the education business itself was Robert's first truly successful entrepreneurial endeavor Roberts sold the company in 1994 and says that he officially retired at the age of 47 of course this was only three years before his hit book was published and he launched cashflow Technologies Inc which owns and operates the Rich Dad and cashflow brands he published a book entitled retire young retire in 2002 number six he almost passed on appearing on The Oprah Winfrey Show Roberts appearance on The Oprah Winfrey Show is what really helped his book sales take off but he almost missed out on the opportunity the producers of the show were reportedly very insistent that Robert revealed the identity of the rich dad on the show but Robert cited a confidentiality agreement he had allegedly signed with the inspiration as the reason he could not reveal the name of rich dad the producers and Robert eventually came to an agreement and he appeared on the show in April of 2000 number 7 he has co-written two books with Donald Trump Robert got to know Donald Trump when they were both a part of the same motivational speakers tour they ended up co-writing two books together why we want you to be rich published in 2006 and Midas Touch published in 2011 Robert supported Donald's run for president and wrote an article for jetset magazine entitled why America needs Donald Trump in October 2015 when he was asked how he thought Trump was doing a few months after he became president Robert responded I think he's doing his best to change a very sick system number 8 his hit book was on the New York Times bestseller list for over six years Rich Dad Poor Dad hit the New York Times bestseller list in 2000 and remained on the list week after week for well over six years becoming one of the longest running books since the creation of the list number nine his dad who he refers to as his poor dad was not poor one of the criticisms of Rich Dad Poor Dad is that Roberts dad was not actually poor his dad Ralph Kiyosaki was a successful self-made man who graduated from Stanford Chicago University and northwestern on full scholarships when Robert was growing up his dad was the head of the Education Department for the state of Hawaii and he ran for lieutenant governor as well he was not poor by any means however Robert justified calling him his poor dad because he said he had a poor man's mentality of go to school get good grades get a job and work hard whereas his best friend's father who he calls his rich dad taught him to have his money work for him so he didn't have to work hard like his poor dad number 10 Will Smith was one of his biggest celebrity fans on Oprah Will Smith said no matter how successful you become it's hard to shake your mindset he claimed he still had a poor person's mentality he wanted his kids to think differently about finances saying he did not want them to be slaves to work and money so he had his children read Kiyosaki's Rich Dad Poor Dad he also met with Kiyosaki to discuss a potential collaboration for curriculum that would teach children the basics of finances another one of Roberts famous fans is Daymond John you can find out more about him by clicking on the upper right hand corner to check out our video of 15 things you didn't know about Daymond John number 11 he met his wife at TGI Friday's restaurant in 1984 Robert met his future wife Kim at a TGI Fridays restaurant in Honolulu through a mutual friend he was immediately drawn to her and over the next six months he frequently sent her flowers and asked her out repeatedly she declined on his advances because she had planned on moving to New York City however one night they met for drinks and Kim says they just clicked and eventually got married Kim is a successful entrepreneur and businesswoman and she wrote a book called rich woman in 2008 number 12 he was sued by his co-author when most people think of Rich Dad Poor Dad they forget all about the co-author of the book Sharon Lechter Sharon was the CEO of Roberts Rich Dad company for 10 years and co-authored 14 other books in the Rich Dad series she ended up taking him to court claiming that he willfully destroyed their joint business venture by diverting opportunities to businesses owned exclusively by him the suit was settled out of court for an undisclosed amount and Lester received a negotiated 10 million dollar payday number 13 he licensed his name to seminars that are often seen as a scam Kiyosaki licensed his name to whitney international who used his name to promote their learn to get rich seminars the seminars came under fire when an undercover reporter attended several seminars and recorded the predatory actions of the trainers who often used in Tim and coercion to upsell the attendees questionable tactics included pressuring attendees to pay for additional seminars priced between four hundred and fifty dollars and forty five thousand dollars by increasing their credit card limits attendees were given scripts instructing them on how to ask for limits of $100,000 and were told to call their credit card companies on the spot anyone who questioned their methods was ejected immediately from the seminar Robert does not attend any of these seminars himself and has said that he isn't pleased with how the seminars are run yet he continues to make money off the deal the company eventually changed its name to rich dad education and still presents workshops through the US and Canada number fourteen he and his wife have chosen not to have children Robert will not have the opportunity to be a literal rich dad himself because as Robert's wife Kim has said in interviews that the two have chosen not to have any children number fifteen he declared bankruptcy after losing a twenty four million dollar lawsuit The Learning Annex is a company that mainly focuses on promoting self-help seminars online coaching sessions and speeches by well-known personalities such as Suze Orman Donald Trump and Deepak Chopra the Learning Annex is founder Bill's anchor said that he discovered Kiyosaki when he was presenting his book to groups of twenty or thirty at Holiday Inns and he claimed it was through his promotion that Rich Dad Poor Dad became the success it was when Kiyosaki failed to hold up his end of their payment agreement the Learning Annex sued him eventually getting a judgment of nearly twenty four million dollars in 2012 Roberts company rich global LLC declared bankruptcy soon after claiming only one point eight million dollars in assets despite bringing in forty five million dollars in royalty payments from Rich Dad seminars between 2007 and 2010 now that we've talked about Robert Kiyosaki we want to know what is your opinion of him as a financial expert let us know what you think in the comments and thank you for sticking around to the end dedicated a lexer here's a bonus pack just for you when Robert was walking off the stage after he finished taping his episode of The Oprah Winfrey Show Oprah turned to him and said hey rich dad I just sold a billion copies of your book and Robert says his life changed drastically from that day forward thank you for spending some time with us a Luxor's make sure to LIKE and subscribe so you never miss another video we also hand-picked these videos which we recommend you watch next thank you for being an a lexer and we'll see you back tomorrow

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Id: ZA27mBm8wjM

Length: 11min 29sec (689 seconds)

Published: Thu Jul 27 2017