'Rich Dad, Poor Dad' Author Files For Bankruptcy

Roberto Kiyosaki, the man who made a fortune giving financial advice to people is broke.

The famed author of "Rich Dad, Poor Dad," and many other financial freedom books filed for bankruptcy after losing a $24 million dollar lawsuit However, the declaration of bankruptcy is seen in financial circles as a smart business move, taken to shield Kiyosaki's estimated $80 million wealth from judgement debts .

Since Kiyosaki's company, Rich Global LLC, filed for bankruptcy protection to shield itself from the judgement debt, the author now does business under Rich Dad Co, another company that he owns.



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