Author Of ?Rich Dad, Poor Dad? Files For Bankruptcy | Bossip

Bankrupt Dad?

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.

Kiyosaki?s Rich Global LLC filed for bankruptcy after being ordered to pay nearly $24 million to the Learning Annex and its founder and chairman, Bill Zanker.

US District Judge Shira A. Scheindlin in April ordered Rich Global to pay up $23,687,957.21 after a jury ruled Kiyosaki must give the Learning Annex a percentage of his profits after using their platform for speaking engagements, including a 2002 gig at Madison Square Garden. Rich Global filed for bankruptcy in Wyoming on Aug. 20.

Zanker told us, ?I took Kiyosaki?s brand and made it bigger. The deal was I would get a percentage, and he reneged. We had a signed letter of intent. The Learning Annex is the greatest promoter. We put his ?Rich Dad? brand on a stage. We truly prepared him for great fame and riches.

But when it was time for him to pay up, he said ?no.? ? This has taken years in court. I won even more money than I asked for from the jury, then he declared corporate bankruptcy. Oprah believed in him, and Will Smith believed in him, but he didn?t keep his promise to us.?

?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.?

Sounds like Kiyosaki won. He didn?t declare personal bankruptcy, just some defunct company with no money. Smart Dad after all.

Source

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Source: http://bossip.com/660699/when-the-checks-stop-coming-in-author-of-rich-dad-poor-dad-goes-broke-and-files-for-bankruptcy/

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