Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
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Re: Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
#2Title is very misleading - this is not personal bankruptcy, it's one of his shell corporations declaring bankruptcy to avoid a court judgment. In that context, it's a rousing success: he knows how to play the game well enough that he can renege on a $24M obligation and still keep his $80M of personal assets intact.
Re: Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
#3Link bait title.
"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."
Money which had long before left Rich Global LLC to Kiyosaki's pocket or his other Corporate entities.
Re: Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
#4Title is very misleading - this is not personal bankruptcy, it's one of his shell corporations declaring bankruptcy to avoid a court judgment. In that context, it's a rousing success: he knows how to play the game well enough that he can renege on a $24M obligation and still keep his $80M of personal assets intact.
I'd argue that this is absolutely not a "rousing success" or "play[ing] the game well enough". He used a legal trick to avoid his side of a financial obligation. If all businesses behaved this way then commerce would be impossible.
Re: Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
#5Title is very misleading - this is not personal bankruptcy, it's one of his shell corporations declaring bankruptcy to avoid a court judgment. In that context, it's a rousing success: he knows how to play the game well enough that he can renege on a $24M obligation and still keep his $80M of personal assets intact.
I'd argue that this is absolutely not a "rousing success" or "play[ing] the game well enough". He used a legal trick to avoid his side of a financial obligation. If all businesses behaved this way then commerce would be impossible.
Isn't one of the main purposes of corporations to shield the private money of the owners? I think you have illusions about economics :-)
Re: Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
#6Earlier quoted context omitted.
I'd argue that this is absolutely not a "rousing success" or "play[ing] the game well enough". He used a legal trick to avoid his side of a financial obligation. If all businesses behaved this way then commerce would be impossible.
Isn't one of the main purposes of corporations to shield the private money of the owners? I think you have illusions about economics :-)
American corporations perhaps. Some countries invoke "veil piercing" if the owners play around like this.
Re: Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
#7Title is very misleading - this is not personal bankruptcy, it's one of his shell corporations declaring bankruptcy to avoid a court judgment. In that context, it's a rousing success: he knows how to play the game well enough that he can renege on a $24M obligation and still keep his $80M of personal assets intact.
Mods should do something about these kinds of titles.
Re: Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
#8Title is very misleading - this is not personal bankruptcy, it's one of his shell corporations declaring bankruptcy to avoid a court judgment. In that context, it's a rousing success: he knows how to play the game well enough that he can renege on a $24M obligation and still keep his $80M of personal assets intact.
I'd argue that this is absolutely not a "rousing success" or "play[ing] the game well enough". He used a legal trick to avoid his side of a financial obligation. If all businesses behaved this way then commerce would be impossible.
That was supposed to be said with all due cynicism. It doesn't come across very well on the Internet.
Re: Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
#9Title is very misleading - this is not personal bankruptcy, it's one of his shell corporations declaring bankruptcy to avoid a court judgment. In that context, it's a rousing success: he knows how to play the game well enough that he can renege on a $24M obligation and still keep his $80M of personal assets intact.
Mods should do something about these kinds of titles.
[deleted]
Re: Rich Dad - bankrupt Dad - Robert Kiyosaki bankrupt
#10Title is very misleading - this is not personal bankruptcy, it's one of his shell corporations declaring bankruptcy to avoid a court judgment. In that context, it's a rousing success: he knows how to play the game well enough that he can renege on a $24M obligation and still keep his $80M of personal assets intact.
Mods should do something about these kinds of titles.
The title is taken from the original New york post article.