As many continue to follow and heed investment advice from Robert Kiyosaki, the American entrepreneur, famous investor, and finance author known for his best-selling personal finance book ‘Rich Dad Poor Dad’ has set his sights on a new asset to add to his portfolio.
Specifically, alongside Marin Katusa, fellow entrepreneur and author of the New York Times best-selling book ‘The Colder War,’ Kiyosaki has started a project that involves mining a $5 billion lithium vein due to the metal’s use in the electronic vehicle (EV) industry, according to his X post on June 28.
Why lithium?
Indeed, in the view of the popular finance educator, lithium is a “hot new precious metal because EVs such as Tesla (NASDAQ: TSLA) require Lithium for their batteries” and “lithium helps save the planet,” comparing the project to the ‘Green New Deal’ proposals to address climate change.
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Therefore, him and Katusa have co-founded a start-up called ‘Project Li-FE,’ which he said was short for ‘Lithium for the environment,’ with the lithium mine located in Canada, and Kiyosaki explained that such a project “makes investors richer and saves the planet.”
‘Gold, Bitcoin, Lithium’
According to the ‘Rich Dad Poor Dad’ author, his actions exemplify the “Rich Dad’s style of capitalism” or “‘Fast Track’ investing,” which he described as “much more fun” than locking oneself up “in the real ‘Rat Race of life’ trying to achieve financial freedom via job security and investing via 401k filled with mutual funds.
As a reminder, he was referring to the two levels of investments in his Rich Dad’s Cashflow Boardgame that he created, the ‘Rat Race’ where small investors start, ”investing in small deals and big deals,” eventually graduating to the ‘Fast Track’ as they prove their ‘Financial IQ.’
“Personally I have been investing in Fast Track investments for over 30-years. Much more fun, requiring much more financial IQ, becuase it involved much more risk, and much bigger returns…if you and your team are smart enough.”
Hence, Robert Kiyosaki shared his new mantra, which is “Gold, Bitcoin, Lithium,” considering that he has also been a vocal supporter of the yellow precious metal and the flagship decentralized finance (DeFi) asset, Bitcoin (BTC), which he has long recommended to his followers.
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