Sam Leong Idol boh lui liao

[yinyang]

Harsh reality of corporate liablity. And neither does lifting corporate veil any remedy in 99.9% cases

 

[eErotica69]

Rich Dad, Poor Dad, Bankrupt Dad?

Rich Dad, Poor Dad, Bankrupt Dad?

Robert Kiyosaki, author of the bestselling Rich, Dad, Poor Dad series of financial advice books, is offering his fans yet another lesson in how the rich are different than you and me: they file for bankruptcy not because of ill health or unemployment related issues, but instead as a strategic business move.

Rich Global LLC, one of the corporate arms Kiyosaki has done business under, filed for bankruptcy protection in August, after it was ordered to pay just under $24 million to the Learning Annex and its chairman Bill Zanker.

Kiyosaki was one of the small-time wealth guru mountebanks who made it to the big-time in the aughts by telling his forever falling behind audience that they could get ahead, they just had not learned how. The schtick behind the Rich Dad books was that Kiyosaki was sharing secret money-making strategies of the wealthy with his wage slave readers. The tips ran the gamut from ridiculous to illegal and downright hurtful and included advocating for insider trading, arguing for the purchase of multiple real estate properties with little or no money down and telling followers they could purchase stocks on margin via unfunded brokerage accounts.

The Learning Annex was one of Kiyosaki’s earliest backers, and helped arrange a number of his most prominent speaking gigs in the early aughts. They were not alone. Oprah Winfrey had him on her show, and PBS ran his programming during their fundraising weeks.

So how did Kiyosaki, whom the website Celebrity Net Worth estimates is worth a cool $80 million, come to this pass?

Well, he didn’t come to any pass. He now conducts much of his business not via Rich Global LLC but under the rubrik Rich Dad Co. And it’s a corporate bankruptcy, not a personal bankruptcy. When the New York Post, which broke the story, tracked down Mike Sullivan, Rich Dad Co. CEO, he informed them that Kiyosaki would not be putting any of his personal fortune toward the settlement. As for Rich Global, Sullivan claimed it only had a few million in its coffers.

Of course, you could argue that Learning Annex CEO Zanker should have known better. No one has ever proven that Rich Dad, the man who supposedly gave Kiyosaki all his advice for wealthy living, ever existed. Nor has anyone ever documented any vast reserves of wealth earned by Kiyosaki prior to the publication of Rich Dad, Poor Dad in 1997.


http://www.forbes.com/sites/helaineolen/2012/10/10/rich-dad-poor-dad-bankrupt-dad/

 

[HappyCAMPER]

Re: Rich Dad, Poor Dad, Bankrupt Dad?

Finally, the cat is out of the bag....it's a fraud. Time to get our refunds.

 

[CELLULAR]

Re: Rich Dad, Poor Dad, Bankrupt Dad?

I never read his book but watched his videos. Nothing spectacular actually. Common sense for me.

 

[watchman8]

Re: Rich Dad, Poor Dad, Bankrupt Dad?

A description most apt for this career con artist:
Those who can do, do. Those who can't, teach.

Ps, not an insult to career teachers.

 

[tonychat]

Re: Rich Dad, Poor Dad, Bankrupt Dad?

To all sinkie dumbfucks who got no idea on how to be rich,

Rich dad has made RK to promise not to reveal his identity.

The only revelation RK made about his rich dad is that he is a Chinese.

The third generation of the Rich Dad family as he revealed, received $20k allowance per month as a student and still complained of having not enough money. i think the statement about " wealth does not go through the third generation" seems to hold some truth.

The way of getting rich is by acquiring assets through debt.. This is the way to get rich... The properties and huge buildings are being acquired by debt and it is repaid off through sound investment and business practices.

Only people who learn the way of sound investment and business practices will be able to do it well in this style of acquiring assets ( which is the usual way) and is not for dumbfuck sinkies who thinks that the only way of getting more money is to work hard and save money.

Nothing wrong with working hard and saving money, but this does not give you financial freedom. ( Rk's aim is about financial freedom, not financial slavery) The $1 you saved will only worth $0.70 in the next 10 years.. not very smart.. seems like it is the only way of getting more money by most dumbfuck sinkies and still wanna act and sound like they know a lot. (one of the disgusting sinkie behavioural traits, no wonder they are screwed by their sinkie govt)

 

[tonychat]

Re: Rich Dad, Poor Dad author Robert Kiyosaki files for bankruptcy

The problem with that guy is that he talks about business leverage and real estate leverage as if there's no risk.

He denounces employees, not realizing that even employees have networking power and ability to leverage their strengths and experience over time.

He is full of bullshit and abstract nonsense, clothes all his "teachings" so that the gullible will fall for them. I have so many pals who bought into his shit, ditched their jobs, and found themselves crawling back.

It's a corporate bankruptcy you twit. Kiyosaki still has all his wealth.

The financially literate keep their personal wealth and business empire separate for this very reason.

If one of my businesses was sued for $20 million tomorrow, I'd declare bankruptcy too but it wouldn't change the financial standing of the trusts which hold my assets. All that would happen is that the business in question would no longer be able to trade.

As i have mentioned in my previous post, there is a disgusting sinkie behavioural trait which is " most sinkies are dumbfucks and still wanna act and sound like they know a lot. Ego is more important than intelligence and truth for most sinkies " No wonder they are screwed by their sinkie govt.. so sinkiely pathetic.

 

[krafty]

Re: Rich Dad, Poor Dad author Robert Kiyosaki files for bankruptcy

he is also my idol, infact he is my facebook friend...:o