Robert T. Kiyosaki
1 book analyzed
Biography
Robert Toru Kiyosaki was born on April 8, 1947, in Hilo, Hawaii, to a Japanese-American family. His father, Ralph Kiyosaki, was an educator who eventually became the superintendent of education for the state of Hawaii — the 'Poor Dad' of the book's title, though Kiyosaki has said the character is a composite. The identity of 'Rich Dad' has been debated; some researchers have suggested it may be based on Richard Kimi, a Hawaiian businessman, while others believe the character is largely fictional or composite. After graduating from the United States Merchant Marine Academy in 1969, Kiyosaki served as a helicopter gunship pilot in the Marine Corps during the Vietnam War, receiving the Air Medal. After the military, he worked briefly at Xerox in sales, an experience he credits with teaching him the communication and rejection-handling skills he considers essential to business success. In 1977, Kiyosaki started his first company, which sold nylon-and-Velcro 'surfer wallets.' The company was initially successful but eventually went bankrupt. He started several more businesses through the 1980s and 1990s with mixed results. In 1994, he sold a business and was able to retire at age 47, which he attributes to income from investments — primarily real estate. Rich Dad Poor Dad was initially self-published in 1997 after being rejected by every major publisher. It gained traction through word-of-mouth and network marketing channels before being picked up by Warner Books (now Grand Central Publishing). The book became an international phenomenon, spending over six years on the New York Times bestseller list and selling over 32 million copies in more than 50 languages. Kiyosaki has faced criticism and legal challenges. In 2012, Rich Global LLC, one of his companies, filed for bankruptcy after losing a $24 million judgment in a lawsuit. Critics have questioned the existence of Rich Dad, the accuracy of specific financial claims in the book, and the quality of his branded seminars and educational products. Supporters argue that the book's core message about financial literacy and asset-building remains sound regardless of biographical debates.