'Rich Dad, Poor Dad' author admits to $1.2 billion debt

The author of Rich Dad, Poor Dad, Robert Kiyosaki recently shared that he has accumulated $1.2 billion in debt. He said on Instagram, "if I go bust, the bank goes bust. Not my problem." Kiyosaki uses debt to purchase assets and views his luxury cars, a Rolls-Royce and a Ferrari, as liabilities since they are fully paid off. He also questions the value of saving cash due to the US Dollar's separation from the gold standard in 1971.