'Rich Dad Poor Dad' Author Robert Kiyosaki Reveals He Is $1.2 Billion in Debt - Newstrends
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‘Rich Dad Poor Dad’ Author Robert Kiyosaki Reveals He Is $1.2 Billion in Debt

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'Rich Dad Poor Dad' Author Robert Kiyosaki Reveals He Is $1.2 Billion in Debt

‘Rich Dad Poor Dad’ Author Robert Kiyosaki Reveals He Is $1.2 Billion in Debt

The 79-year-old financial guru says he carries over a billion dollars in debt tied to real estate investments, but his ex-wife clarifies it is not personal liability and forms part of a deliberate wealth-building strategy.

Robert Kiyosaki, the author of one of the best-selling personal finance books of all time, has revealed that he is carrying a staggering $1.2 billion in debt tied to his real estate investments. The 79-year-old “Rich Dad Poor Dad” author disclosed the figure during a summer appearance on the “Get Rich Education” podcast, stating plainly, “So, I’m a billion two in debt.” He added that people “should not do what I do, right?” but noted that he has studied debt since 1974 and that using it as a wealth-building tool requires proper knowledge.

While the eye-popping number has generated headlines worldwide, Kiyosaki’s ex-wife and long-time business partner, Kim Kiyosaki, has clarified that the figure does not represent money the author personally owes. She explained that the couple’s real estate portfolio includes approximately 1,500 apartment units held with partners, and the borrowing is attached to the properties themselves rather than to Kiyosaki personally. Her estimate for his personal share is far smaller—Vanity Fair calculated it could be between $30 million and $60 million, working backward from his claim of earning roughly $3 million a year.

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The massive debt pile is a product of Kiyosaki’s intentional investment strategy rather than financial distress. As his properties rise in value, he borrows additional money against the increased equity and treats the loan proceeds as tax-free income, since loans are not taxed the way earnings are. He also places individual investments into separate limited liability companies, insulating them from one another if one runs into trouble—a structure he calls “firewalls.” “If it all comes to hell, you can talk to my attorney,” Kiyosaki told Vanity Fair. “Firewalls—that’s the way the rich play the game.”

Kim Kiyosaki suggested her former husband deliberately uses the billion-dollar figure to grab attention before explaining his position on investment debt. “He loves to say things that shock,” she told Vanity Fair, referring to his effort to explain “why investment debt is good.”

Financial experts are divided on the merits of Kiyosaki’s approach. David A. Perez, a multifamily real estate investor and founder of Tax Maverick AI, called it “a great strategy” and said carrying large amounts of property-backed debt is “actually very normal.” Perez noted that borrowing against property equity generally produces a tax-free loan because the property has not been sold, while warning that additional borrowing can increase mortgage payments and interest costs and reduce cash flow. However, John Poole, founder of Scottsdale-based consultancy JPTD Partners, offered a more cautious assessment. “I think there’s good debt and there’s bad debt, and then there’s $1.2 billion of debt, which you better know exactly what in the world you’re doing,” he told The Post. “Leverage works beautifully on the way up, and if it’s not continuing on that way up, then it’s like a chainsaw financially coming down.” Poole warned that the strategy cannot continue indefinitely, adding, “Kiyosaki may call this the ‘Rich Dad debt,’ but for the average investor, it could turn out to be ‘Poor Dad bankruptcy’ really quickly.”

The revelation has also brought attention to the gap between Kiyosaki’s public advocacy for Bitcoin and gold and his portfolio’s dependence on available credit. The loans tied to his $1.2 billion debt are secured by real estate, not by his crypto or metal holdings. This leaves an odd tension: he warns that cheap credit will wreck the economy while his own portfolio depends on that same credit staying available. History has shown the risks—one of his companies, Rich Global LLC, filed for Chapter 7 bankruptcy in 2012 following a $24 million judgment against it. Kiyosaki built his financial education empire around “Rich Dad Poor Dad,” first self-published in 1997 and sold over 44 million copies. The book contrasts the financial lessons he learned from his biological father, whom he calls the “Poor Dad,” with those he says he learned from the father of his childhood best friend, the “Rich Dad.”

‘Rich Dad Poor Dad’ Author Robert Kiyosaki Reveals He Is $1.2 Billion in Debt

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Trump’s White House Press Secretary Quits After Just Five Days as Credentials Storm Erupts

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Trump’s White House Press Secretary Quits After Just Five Days as Credentials Storm Erupts
US President Donald Trump’s new White House press secretary, Katie Zacharia
Trump’s White House Press Secretary Quits After Just Five Days as Credentials Storm Erupts

WASHINGTON, DC — US President Donald Trump’s new White House press secretary, Katie Zacharia, has left her position after just five days on the job, following criticism of her first press briefing and questions about her professional credentials.

Zacharia’s departure was reported on Friday, October 16, 2026, after Trump disclosed that he had advised her to reconsider remaining in the high-profile position. A White House official subsequently confirmed that she was leaving the role.

The departure came just days after Trump announced her appointment to succeed Karoline Leavitt on Friday, October 9. Zacharia began work on Monday, October 12, and held her first White House press briefing the following day, Tuesday, October 13.

The brief tenure quickly became controversial after Zacharia’s first interaction with journalists attracted criticism. The briefing lasted approximately 14 minutes, during which she took questions from only three reporters, prompting scrutiny of her performance as the administration’s principal spokesperson.

The controversy deepened on Thursday, October 15, when questions emerged about her professional credentials. During an interview with Fox News host Sean Hannity, Zacharia acknowledged that she had not passed the bar examination, despite holding a law degree from Pepperdine University.

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In the United States, obtaining a law degree does not automatically qualify a graduate to practise as a licensed attorney. Admission to practise generally requires passing the relevant bar examination and satisfying other requirements set by the jurisdiction.

The revelation intensified scrutiny of how Zacharia’s legal background had been presented before her appointment, further complicating her early days in the White House role.

Zacharia defended her handling of the first briefing, explaining that she had limited time to prepare. She also indicated that the session was intentionally brief because Trump was expected to speak to reporters later that morning.

Trump, meanwhile, said he had encouraged her to consider whether the position was right for her, arguing that the media scrutiny surrounding the job could make it difficult to remain in the role.

The White House press secretary is responsible for communicating the president’s positions, explaining administration policies and responding to questions from journalists. The position frequently involves contentious exchanges with the media and intense public scrutiny.

Before joining the White House, Zacharia worked in communications for Trump Media, the company behind the president’s Truth Social platform. She had also held a position at the Department of Homeland Security and worked as a conservative political commentator.

Her exit leaves the Trump administration needing to determine who will handle daily press briefings and serve as its principal spokesperson. As of Friday, October 16, the White House had not publicly announced a successor.

Zacharia’s departure followed a compressed timeline: Trump announced her appointment on October 9, she began work on October 12, delivered her first briefing on October 13 and left the position on October 16. The five-day description refers to her working tenure rather than five full days from the date her appointment was announced.

 

Trump’s White House Press Secretary Quits After Just Five Days as Credentials Storm Erupts

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School Turns Death Trap as Roof Collapse Claims 22 Lives

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School Turns Death Trap as Roof Collapse Claims 22 Lives

School Turns Death Trap as Roof Collapse Claims 22 Lives

At least 21 children and a teacher have been killed after the roof of a private school collapsed in Peshawar, north-western Pakistan, triggering an emergency rescue operation as authorities searched for people feared trapped beneath the rubble.

The incident occurred on Thursday, October 15, 2026, in the Dir Colony area of Peshawar, the capital of Khyber Pakhtunkhwa province. The victims were pupils attending the school when the roof gave way, according to reports citing local officials and hospital authorities.

More than 40 people were reportedly injured in the collapse, with several taken to hospital for treatment. Some of the injured were said to be in critical condition, raising concerns that the death toll could increase as rescue efforts continued.

Mohammad Asim, a spokesperson for Lady Reading Hospital, confirmed that children and a teacher were brought to the facility after the incident. Early reports said the children killed were all aged 13 or younger.

Emergency responders, including personnel from Rescue 1122, were deployed to the scene to remove debris, search for survivors and transport injured pupils to medical facilities. Rescue workers continued to check the wreckage for anyone who might still be trapped beneath the collapsed structure.

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The cause of the collapse had not been established at the time of reporting. Authorities are expected to investigate the circumstances surrounding the incident, including the condition of the school building and whether construction and safety standards were observed.

Pakistan’s Prime Minister, Shehbaz Sharif, expressed sorrow over the loss of lives and extended condolences to the bereaved families. He also prayed for the strength of the families affected by the tragedy.

The disaster has renewed concerns about building safety and construction standards in Pakistan, where structural collapses have repeatedly caused deaths and injuries. Poor construction materials and weak enforcement of safety regulations have been cited in reports on previous incidents, although the cause of the Peshawar collapse remains unconfirmed.

In June 2026, a roof collapse at a tutoring centre in Lahore killed at least 14 children. The recurring incidents have intensified calls for stricter inspections of educational facilities and stronger enforcement of building regulations to protect pupils and school staff.

Authorities are expected to establish what caused the latest collapse and determine whether any safety breaches contributed to the tragedy.

School Turns Death Trap as Roof Collapse Claims 22 Lives

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Nigeria Secures UN Human Rights Council Seat With 172 Votes

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Nigeria Secures UN Human Rights Council Seat With 172 Votes
Nigeria Secures UN Human Rights Council Seat With 172 Votes

Nigeria has secured a seat on the United Nations Human Rights Council (UNHRC) after receiving 172 votes in an election by the UN General Assembly, earning the country a three-year term on the international body responsible for promoting and protecting human rights worldwide.

The election was held on Tuesday, October 13, 2026, at the United Nations headquarters in New York. Nigeria will serve on the 47-member council from January 1, 2027, to December 31, 2029.

Nigeria was among 15 countries elected to the council for the new term. The other successful candidates included Zambia, Ghana, Burundi, Brazil, the Dominican Republic, Uruguay, Germany, Ireland, Japan, Jordan, Kuwait, Nepal, Moldova and Ukraine.

Among the African candidates, Zambia received 177 votes, Ghana secured 173, Nigeria obtained 172, while Burundi received 160 votes.

The election gives Nigeria an opportunity to participate in international deliberations on human rights standards, alleged violations and measures aimed at improving the protection of fundamental freedoms across the world.

However, the process has attracted criticism from human rights organisations because the election was uncontested. Regional groups nominated exactly as many candidates as there were available seats, meaning there was no competitive ballot among rival candidates within the respective groups.

The UN Human Rights Council is an intergovernmental body based in Geneva, Switzerland. Established in 2006, it is mandated to address human rights violations, promote respect for fundamental freedoms and make recommendations to governments and the international community.

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The council comprises 47 member states elected by the UN General Assembly through a secret ballot. Its seats are allocated among five regional groups to ensure geographical representation, and members serve staggered three-year terms.

The body examines human rights situations in individual countries, conducts its Universal Periodic Review of UN member states and considers complaints and reports concerning alleged abuses. It can also appoint independent experts, establish commissions of inquiry and authorise fact-finding missions to investigate serious allegations.

Although the council plays an important role in international human rights oversight, it does not operate as a criminal court and cannot independently impose criminal sentences on individuals accused of abuses.

Nigeria’s election comes amid continuing international scrutiny of human rights conditions in several countries, including concerns about police conduct, accountability, freedom of expression and the treatment of vulnerable groups.

The selection of countries with contested human rights records has been criticised by advocacy organisations, which argue that uncontested elections can weaken accountability and reduce pressure on candidates to demonstrate their commitment to protecting fundamental rights.

The criticism has also raised questions about how elected countries will use their positions on the council to address allegations of abuses and support international human rights standards.

For Nigeria, membership offers a platform to contribute to debates on issues such as unlawful killings, torture, discrimination, the rights of women and children, freedom of expression and the protection of civilians during armed conflicts.

The country will also be expected to participate in council sessions, consider resolutions and engage with other member states on international human rights concerns.

Nigeria’s three-year membership begins in January 2027. Its performance on the council will be watched alongside its domestic human rights record, including how authorities address allegations of misconduct and strengthen accountability and protection for citizens.

The election is therefore both a diplomatic achievement for Nigeria and an opportunity for the country to demonstrate its commitment to the principles the council was established to uphold.

 

Nigeria Secures UN Human Rights Council Seat With 172 Votes

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