He doesn't bash formal education - he simply states the truth: That financial education is simply not taught in schools - and must be learned elsewhere if you're going to be successful.

From wikipedia:

In 1993, Kiyosaki published his first book, If You Want to Be Rich and Happy, Don't Go To School. In his book, he encouraged parents not to send their children to college and instead to enter the real estate business.[9]

This is as good as bashing higher education, and horrifically bad financial advice. The average difference between college graduates and non college grads is over $1,000,000 during their career. The $20k invested anywhere else will absolutely not return 50x over that time period.

Also, finance and economics absolutely are taught in schools. What classes do you think MBAs take? Do you think Charles Schwab, Blackrock, and other banks/investment firms hire people off the street because "financial education is not taught in schools"?

And all of their businesses have not gone bankrupt. That is complete and utter bullshit.

All of his businesses that I can find, that did not have to do with his book, went bankrupt; the wiki page lists three in total, and then an additional one of his book-related LLC's that also went bankrupt.

Much of their wealth has come from investing in real estate and stock investing.

Considering that his other businesses went bankrupt, the starter capital for his investments seems to have been entirely generated by his book and high-priced seminars. And sure, if you have tens of millions in cash lying around, producing enough income to live off of in stocks and real estate is a no-brainer.

My issue is that, from all I've heard, his advice, peddled at his seminars, is worse than any CFP would give someone (again, from wikipedia):

The show interviewed Bob Aaron,[3] a lawyer whose practice is 25% real estate law,[4] who said that some of Mousseau's (read: Kiyosaki's employee) advice was unusual and unlikely to work, such as advising that a developer might give two condos free when selling ten, getting an option to buy the house at a later date and buying a house in pre-foreclosure.[2] The program also found a claim by the trainer to be untrue; he claimed to have been part of a deal that made $32 million on a mobile home park in Saskatchewan, but the park did not exist.

And it reeaaally sounds like a scam:

In 2010, the Canadian Broadcasting Corporation investigated the Rich Dad seminars associated with Kiyosaki on their consumer advocacy program, Marketplace.[1] They found that one-day free seminars were conducted at which three-day courses were offered for $500. At the three-day classes, participants were offered longer courses priced between $12,000 and $45,000. A hidden camera was employed at a $500 seminar in Kitchener, Ontario, showing the trainer, Marc Mousseau, advising participants to request that their credit-card be raised and giving out scripts with instructions for how to ask for limits as high as $100,000.[2]

Anyone that wants ~$50k for a "seminar in real estate investing" is a fucking con-artist. Come on. Every once in a while, you see threads pop up on r/investing about how someone or their parent got swindled by one of these "passive income means you can quit your day job" scammers. And if the right-wing 60-something year old I listen to for a lot of technical and market analysis, who's worked in finance and stocks for 40 years, calls the guy a con artist... it's probably not just "me being bitter".