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by Dr. Boyce Watkins
When you make millions giving financial advice to other people, the last thing anyone expects is for you to go bankrupt. Robert Kiyosaki, author of the best-selling book, “Rich Dad, Poor Dad,” has filed for bankruptcy. Kiyosaki made the move after being wiped out by a $24 million dollar lawsuit that he lost to the Learning Annex.
The bankruptcy is not an indicator of Kiyosaki having poor financial health. Instead, it was a business move. Companies often file for bankruptcy when they have liabilities that exceed the market value of their assets. Kiyosaki’s company, Rich Global LLC, has filed for bankruptcy protection to shield itself from the the judgement awarded to the Learning Annex.