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Author: decath Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 756377  
Subject: Re: Rich Dad, Ripoff Dad Date: 10/10/2012 4:08 PM
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Mike Sullivan, CEO of Kiyosaki’s Rich Dad Co., told us that Kiyosaki, said to be worth $80 million, was still doing very well thanks to investments in other companies: “The dealings we had with Learning Annex were with a company that hasn’t been in business for a number of years . . . I am not surprised Learning Annex is upset and angry, the money doesn’t exist in that company, and we can’t bring money out of the group.

“Robert and [wife] Kim are not paying out of personal assets. We have a few million dollars in this company, but not 16 or 20. I can’t do anything about a $20 million judgment . . . We got hit for what we think is a completely outlandish figure.”



He won't be hurting too bad. Just one of his companies is going down. Sounds like the reason he was sued for so much is because he operated unethically and refused to pay what was owed.

I hated his 1st book. Started reading it and it sounded good until about 1/3 of the way through. Then I realized he was just another real estate hoaxer. I stopped reading and returned the book to the library.

I really like Dave Ramsey's books and teaching guides. It is simplistic but I often give his bookds to HS and college grads since that is as financially sophisticated as most poeple are ever going to get. But Dave likes Kiyosaki and sells his "Rich dad" book on his website. Big negative. Kiyosaki and his slamming of his 'poor dad', if he ever existed, was very dishonoring. It also made Kiosaki look very materialistic and greedy. As if money defines who a person is. Don't get me wrong. Having $ is the way to go. But a jerk with $ is just a bigger jerk.

decath
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