$1.2 Billion in Debt: Robert Kiyosaki's Multifamily Mortgage Dilemma
Financial author Robert Kiyosaki has revealed that he owes $1.2 billion in debt, but this figure is not related to his investments in Bitcoin (BTC) and gold.
The debt is attributed to apartment buildings, with Kiyosaki's former wife and business partner Kim Kiyosaki stating that the total includes shared borrowing with partners across approximately 1,500 units. However, Vanity Fair reports that Kiyosaki's personal share of this debt is estimated to be between $30 million to $60 million.
Kiyosaki's financial situation has been a topic of discussion, particularly given his advocacy for holding gold and Bitcoin as a hedge against inflation. As the Post notes, 'Leverage works beautifully on the way up, and if it's not continuing on that way up, then it's like a chainsaw financially coming down,' according to John Poole, founder of JPTD Partners.
Kiyosaki's followers may be concerned about his reliance on borrowed money, especially considering his warnings about the dangers of cheap credit. As Kiyosaki himself has stated, 'I'm a billion two in debt.' The situation highlights the tension between Kiyosaki's message and his own financial practices.