The 76-year-old surprised his Instagram followers, sharing that he was more than $1.2 billion in debt.

In a reel, Kiyosaki admitted he used an irregular approach to separating assets and liabilities and stopped using luxury vehicles such as Rolls-Royce and Ferrari.

However, Kiyosaki has not completely deviated away in the practice that he preached for years. He has always advised people to create wealth in a way that would leave them with little personal liability.

“If I go bust, the bank goes bust, not my problem,” he said in the video.

Kiyosaki categorised debt into good and bad to enhance his wealth and said he values assets that convert into over-cash such as Bitcoin, silver, Wagyu, cattle, and gold.

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At the Vancouver Resource Investment Conference in 2022, he highlighted the values of gold and silver as long-term investments.

Kiyosaki himself had a silver mine in Argentina which he sold to the Canadian mining company, Yamana Gold,.

He said gold mining is a “tough business” that has a “higher risk.”