Robert Kiyosaki, entrepreneur and renowned author of 'Rich
Dad, Poor Dad', is betting on South Africa and a gold price of between
$1000/oz and $1500/oz. Why? Well, because South Africa is the gateway
to Africa, America is going down and George Bush is still president.
It is a great privilege to welcome also to the 'World at Six', Robert
Kiyosaki. You might know him from the many books he has written, amongst
them, 'Rich Dad, Poor Dad', but he is also known as an entrepreneur.
In South Africa at the moment, and Robert as I understand it, you have
got a meeting at the JSE this evening. Is it a possible business venture
you are looking to launch in South Africa?
It is more fact finding to find out what they look for in a public listed
company. Right now, I am listed off of Toronto.
And that is your silver business?
Silver and gold and oil. So, Canada is very similar to Africa, the fact
that you are resource based. As I am very bullish on resources right
now, the whole world is, because five years ago, when I came here and
I said buy real estate, now I am saying, stay with gold for a while
So gold is one of your passions, silver is another of your passions.
You are also wisely invested in oil at the moment. But I am interested
in why you were bullish about South Africa, why would you be considering
perhaps a listing of a business on the JSE?
Well, because South Africa is the gateway to Africa and Africa has its
problems, like in Zimbabwe and other parts. But those things will work
out and like I said, you are a resource country and that is going to
drive the world.
And it is a resource rich continent as well, you must not forget.
Yes, that is what I am saying. This is why I have got to come here and
at least get a total. A number of years ago, I went to China in 1996
and everybody said what the hell are you doing there, and now, I look
like a genius.
It is always nice to look like a genius, especially when you have taken
some financial risk, and financial risk is what it is all about. But
Richard Branson, who is a man I know you admire and respect, he sat
in that very chair last week to launch Virgin Money in South Africa.
There is an enormous amount of foreign interest, foreign capital looking
at this market.
Absolutely, you have to look at Africa, or else you are not in the world
anymore. Because, you know today, it does not make a difference where
you live really, with the cyber world we live in and the digital world,
you can be anywhere and live anywhere and do business anywhere. But
this is like I said, a resource rich continent, when the problems get
worked out, you will just keep booming.
And that is again, where the risk and opportunities lie. Any entrepreneur
like yourself goes in and calculates those risks.
Absolutely, plus the US is going down. The reason I am betting on gold
is the dollar is getting weaker and weaker, so I am bullish that gold
gets at least $1000, to $1500 US, it could be this year or next year,
so that is why Johannesburg or South Africa is the place to be right
now, because you have the richest mines in the world.
In terms of the gold price, what is it? I mean, you mentioned of course,
the weaker dollar driving the gold price, but that is not the only factor,
though. Is there global instability, are you concerned about what is
going on with inflation in the United States, where the economy is being
managed, instability in terms of conflicts in Iraq for example.
Well if you had Bush for a president, you would be worried too.
Well, the point is the world has got to worry, because the guy is in
there for another couple of years.
And then Hilary is after that.
The lesser of two evils potentially, it depends on your perspective.
But, again, government policies do influence the way in which economies
Absolutely, and the US problems are bigger than the US can handle. For
example, we have the baby boom generation set to retire, our national
debt and our dollar, as a reserve currency of the world and with Bush
as president, I would rather bet on gold.
Rather bet on gold, and that is why you have a meeting at the JSE this
evening, talking about a potential listing of a business in this country.
I am assuming, from what we have been talking about, that it is a resources
And the opportunities, traditionally, a lot of venture capital, a lot
of the riskier listings tends to go to Toronto, to maybe the A market
in London. Why particularly the JSE? Do you really need to be in this
I just want to find out. I really want to find out what their requirements
are and what advantages they have. Not the pro and cons, I have got
to keep an open mind. But number one, I love South Africa and I have
been coming here for a number of years. I come here for the tri nations,
I am a rugby player, plus I am a hunter, and it is a great sportsman
environment, but like I said, it is the gateway to Africa.
Robert Kiyosaki, we are running out of time, but thank you very much
for joining us on the 'World at Six' this evening. Nice to see you in
South Africa. He is a hunter, not only for animals no doubt, but also
for opportunities. Meeting with the JSE this evening, we will watch