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Thread: Author of Rich Dad, Poor Dad files for bankruptcy

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    Author of Rich Dad, Poor Dad files for bankruptcy

    Author of Rich Dad, Poor Dad files for corporate bankruptcy.

    AUTHOR of best-selling financial help book Rich Dad, Poor Dad has just filed for bankruptcy.

    Financial guru Robert Kiyosaki filed for corporate bankruptcy after losing a court judgment to The Learning Annex, The New York Post reports.

    Mr Kiyosaki's company Rich Global LLC was ordered to pay almost $US24 million to the Learning Annex and its founder and chairman, Bill Zanker.

    A US District Judge ordered that Mr Kiyosaki must give Mr Zanker a percentage of the profits he made from speaking appearances which he’d organised through Learning Annex.

    Mr Zanker told the The New York Post that he was responsible for making Rich Dad, Poor Dad into the global name it is today.

    "I took Kiyosaki's brand and made it bigger. The deal was I would get a percentage and he reneged," Mr Zanker said.

    "Oprah believed in him, and Will Smith believed in him, but he didn't keep his promise to us," he said.

    Mr Kiyosaki first published “Rich Dad Poor Dad” in 1994, and has since written 11 other books.

    Rich Dad, Poor Dad has sold more than 26 million copies and earned Mr Kiyosaki widespread fame.

    Mike Sullivan, CEO of Mr Kiyosaki Rich Dad Co., told reporters that Mr Kiyosaki, was still doing well thanks to investments in other companies but that they thought the judgement was unfair.

    “I can’t do anything about a $20 million judgment…We got hit for what we think is a completely outlandish figure,”
    he said.
    The only thing necessary for the triumph of evil is for good men to do nothing

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    Re: Author of Rich Dad, Poor Dad files for bankruptcy

    Quote Originally Posted by littleroundman View Post
    Author of Rich Dad, Poor Dad files for corporate bankruptcy.
    That illustrates a point about the science of evolving systems. If a system evolves too quickly some unprecedented natural phenomenon throws it back into chaos. If it evolves too slowly, it withers and dies.

    There are some very advanced theoretical maths involved with this but my son who is a theoretical mathematician tells me that I can not go very far wrong quoting my theoretical maths tutor who is the fictitious Ian Malcolm from the book Jurassic Park. The book is a riveting read and Michael Crichton the author seems to understand his fictitious character's principles very well indeed.

    "Rich Dad Poor Dad" reminded me of another book in the same genre about gamesmanship, which was very popular in the fifties, Good thinking about how to win games but something to take with a very large pinch of salt.

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