10/25/2022 0 Comments Rich dad poor dad authorRICH DAD POOR DAD AUTHOR SERIESIn 2010, Kiyosaki moved publication of Rich Dad to his Plata Publishing company, which also produces a series of titles related to personal finance. “It was unheard of to crash a book that quickly,” Wolff noted, but the Warner production team was able to get 300,000 copies of it to clients and bookstores in time for the hourlong Oprah appearance. The bad news was that the appearance was in about a month. Not long after the Warner deal was done, Wolff received a call from Kiyosaki’s office with what Wolff said was “good and bad news.” The good news was that Kiyosaki was going to appear on Oprah. Sure enough, the audio rights were what eventually led Kiyosaki to take Wolff’s offer.įrom the moment of signing, Kiyosaki began recording the audiobook of Rich Dad, Poor Dad, and he continued to market it. In the early 2000s, it was less common to snap up audio rights along with print rights. Somewhat defeated, Wolff tried to come up with a way to make it work and hit on the idea of securing audio rights. “They made it clear that there was another offer,” he said. Wolff was impressed with their operation, and was keen to gauge their interest. But Wolff flew to Phoenix to meet Kiyosaki, who picked him up in a black Porsche and took him to lunch with the Cashflow team. “He told me, ‘Let’s not fool with this,’ ” Wolff said. Wolff went to his boss, Larry Kirshbaum, telling him about Rich Dad, Poor Dad and its surprise appearance on the list. Sure enough, I notice a book I’ve never heard of before that was published by something called Cashflow Technologies.” “Part of my routine was to check the New York Times bestseller list every Sunday. “I was working at Time Warner Book Group in early 2000,” said Rick Wolff, acquiring editor of Rich Dad, Poor Dad. Rich Dad, Poor Dad began to attract New York publishers after it appeared on the New York Times bestsellers list. I didn’t have a degree from Princeton or Stanford.” With no interest from the big houses, Kiyosaki self-published the title and focused on effective marketing tactics, including getting the book in places that normally don’t sell books, like gas stations. “They said I had no idea what I was talking about. “I was rejected by every publisher in New York,” he recalled. Perhaps this is why Kiyosaki struggled to find a publisher for it, resulting in his decision to self publish. The goal of the book was to spread understanding of how money works. “I thought somebody would stop it by now,” Kiyosaki said. That’s 32 zeros!” It’s been 25 years since Rich Dad, Poor Dad called attention to the basic lack of financial understanding for a generation of young professionals. “Most people don’t really know about money,” Kiyosaki said. The poor work for a paycheck and thereby never get ahead. It prompted Kiyosaki to develop an understanding of the power of passive income-how those who are rich don’t work for their money the money works for them. The culture shock resulted in Kiyosaki asking his father about the best way to get rich, and he was told to “stay in school.” Though he was only nine years old, he already knew, he said, that his father’s views about education leading to wealth were “bullshit.” His friend’s dad proved it wrong, being very wealthy yet lacking any university degrees. It led to him being ensconced in a different world, causing him to wonder, as he said, “How are these kids rich?” When his father received a promotion, they moved across town and Kiyosaki ended up going to a school whose students were mostly wealthy. “I grew up in this kind of poor, lower-middle-class neighborhood,” Kiyosaki said. Kiyosaki grew up in Hawaii, and his father served as the state’s secretary of education and had a doctorate but made only a modest salary. “Why don’t we teach kids about money?” he mused. Since its release, the book has remained a bestseller, having sold upward of 44 million copies.īeyond the sales success of Rich Dad, Poor Dad, Kiyosaki has always viewed the book as part of a bigger mission-one that began when he was nine years old. It has been 25 years since the original publication of Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money-That the Poor and Middle Class Do Not!, a book that was originally self-published in 1997 through author Robert T.
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