Robert Kiyosaki is fronting Kiyosaki Research's pitch for the paid publication The Kiyosaki Letter. Its headline is “Join The Kiyosaki Letter \u007c Secure Your P.I.P. Portfolio Today”.
The Patriot Income Plan promises a 14-partnership portfolio, blended yields of 8–10%, and exposure to roughly 200,000 miles of pipeline infrastructure. The pitch also says the next P.I.P. payout is days away.
The headline pick is Energy Transfer LP, ticker ET. We identify it below with high confidence, 96/100, alongside two other strongly matched names.
What the pitch tells you without telling you
The promotion gives away a remarkably specific trail. The “Pipeline King” started with 200 miles of pipeline in 1996, now claims about 140,000 miles, is based in Texas, and has been courting AI data-center power demand. The “HOA of American Energy” owns more than 50,000 miles of pipelines, 300 million barrels of storage, 29 natural-gas processing plants and 26 fractionation facilities, while the “Big Landlord” has interests in roughly 71,000 producing wells and decades of drilling inventory.
The same pitch is also branded as “P.I.P.” and “America's Shadow Grid”; those names refer to the same Patriot Income Plan idea. The bonus titles are looser clues: “The Unlikely Hero of the AI Revolution” points toward a uranium and rare-earth processor, while “The Greenland Opportunity” leaves its three supposed companies unnamed.
The stocks behind The Patriot Income Plan
The headline pick is Energy Transfer LP (ET). Energy Transfer's company history says it began with 200 miles of East Texas natural-gas pipeline in 1996, and its 2025 annual-report materials describe approximately 140,000 miles of pipeline and associated energy infrastructure. Its Dallas headquarters also matches the Texas clue. The AI angle lands too: a February 2025 CloudBurst agreement covered up to 450,000 MMBtu per day for roughly 1.2 gigawatts of behind-the-meter power near San Marcos.
The other two main names we could pin down are Enterprise Products Partners L.P. (EPD) and Black Stone Minerals, L.P. (BSM). Enterprise's 2025 Form 10-K and company materials match the 50,000-mile pipeline network, more than 300 million barrels of storage, 29 processing plants and 26 fractionation facilities, as well as the distribution-growth clue. Black Stone's 2025 Form 10-K matches the approximately 71,000 producing wells, and its Aethon, Revenant Energy and Caturus agreements match the drilling-inventory clues. We identified three names, not the full 14-partnership roster.
The bonus reports are guesses, not confirmed identifications. Energy Fuels (UUUU) is the strongest match for the uranium and rare-earth report because its White Mesa facility processes uranium and produces rare-earth oxides. The Greenland report names no issuers publicly, so CRML is only the best thematic fit; MP and LMT lack direct Greenland evidence.
| # | Ticker | Company | Our confidence |
|---|
| Main pick | ET | Energy Transfer LP | 96/100 — high |
| 2 | EPD |
Also in this offer
The offer bundles 4 bonus reports that tease their own stocks. These get a sentence or two of copy each, so the evidence is much thinner than for the main pick and what follows is our best reading rather than a confident answer.
| Bonus report | Our best guess | Confidence |
|---|
| The Unlikely Hero of the AI Revolution | UUUU — Energy Fuels Inc. | 87/100 — high |
| The Greenland Opportunity | CRML — Critical Metals Corp. | 28/100 — best guess |
| The Greenland Opportunity | MP — MP Materials Corp. |
Checking the pitch against the filings
The claim-by-claim checks separate clean matches from promotional overstatements and claims that can't be verified from public disclosures. Sources include Energy Transfer's 2025 annual report and earnings materials, Enterprise's 2025 Form 10-K, Black Stone's 2025 filings, Energy Fuels' filings and releases, ERCOT materials, and 13F institutional filings.
That distinction matters. An advertised $53 billion payout forecast that lacks its underlying chart data isn't the same thing as a disproven number. But changing Enterprise's 82% fee-based gross operating margin into 82% of cash flow, or Energy Transfer's data-center figures into a different number, is a genuine mismatch.
ET — Energy Transfer LP
| The promotion claims | Verdict | What we found |
|---|
| The Pipeline King grew from 200 miles of pipeline in 1996 to about 140,000 miles today. | Checks out | Energy Transfer’s company history says it began in 1996 with 200 miles of East Texas natural-gas pipeline, and its 2025 annual-report materials describe approximately 140,000 miles of pipeline and associated energy infrastructure. |
| The Pipeline King signed a deal to power one of the country’s largest data-center campuses. | Overstated | Energy Transfer announced a February 2025 CloudBurst agreement to supply up to 450,000 MMBtu per day for roughly 1.2 gigawatts of behind-the-meter power near San Marcos, but the announcement did not establish that the campus was one of the country’s largest. |
EPD — Enterprise Products Partners L.P.
| The promotion claims | Verdict | What we found |
|---|
| The HOA of American Energy has raised payouts to unitholders every year for 28 straight years. | Checks out | Enterprise Products Partners reported 27 consecutive years of distribution growth through 2025 and declared a higher quarterly distribution in 2026, making a 28-year streak current by 2026. |
| The HOA of American Energy owns more than 50,000 miles of pipelines. | Checks out | Enterprise Products Partners’ 2025 Form 10-K materials state that the partnership owns more than 50,000 miles of pipelines. |
|
BSM — Black Stone Minerals, L.P.
| The promotion claims | Verdict | What we found |
|---|
| The Big Landlord owns 20 million acres across 41 states and has accumulated land since 1876. | Overstated | Black Stone Minerals’ 2025 Form 10-K reports 16.9 million gross acres in 41 states, while the company markets more than 20 million acres of opportunity; its corporate history traces the business lineage to 1876. |
| The Big Landlord has interests in approximately 71,000 producing wells. | Checks out | Black Stone Minerals’ 2025 Form 10-K says its mineral and royalty interests include ownership in approximately 71,000 producing wells. |
|
Claims about the pitch itself
| The promotion claims | Verdict | What we found |
|---|
| P.I.P. investments currently yield between 8–10% on a blended basis. | Can't verify | The Kiyosaki Research page advertises a 14-partnership portfolio, but it does not disclose all holdings and their current distributions, so the claimed blended yield cannot be independently calculated. |
| In 2025, P.I.P. partnerships paid out $48.5 billion. | Can't verify | The Kiyosaki Research page prints the $48.5 billion figure, while VettaFi/Alerian research confirms that the comparison concerns normalized MLP distributions but does not expose the chart data needed to verify that exact total. |
|
Claims the record contradicts
“The HOA’s fees increased 140%, from $560 million to $1.3 billion per quarter, over the last decade.” — Enterprise reported $560 million of gross operating margin for its NGL pipelines and storage business in the fourth quarter of 2018, but reported about $1.5 billion for that segment in the fourth quarter of 2025; the record does not support a $1.3 billion fee series or the promoted 140% comparison.
“The same facility is projected to generate $765 million annually for its first 15 years.” — Energy Fuels’ February 2026 release projects $311 million of average annual EBITDA for White Mesa Phase 2 alone; the $765 million figure combines Phase 2 with the separate Vara Mada project.
“Energy Fuels had $79 million in sales in 2025.” — Energy Fuels’ February 2026 full-year results reported 2025 total revenue of $65.922 million; the approximately $78.1 million figure belongs to 2024, not 2025.
“The uranium-and-rare-earth company is too small for most institutional funds to touch.” — UUUU closed at $14.09 with a market capitalization of about $3.52 billion, and current 13F-based ownership records report approximately 78.85% institutional ownership; that is the opposite of a company most institutions cannot touch.
Where the pitch outran the record
“95% of P.I.P. revenue is locked in under contracts.” — Energy Transfer’s 2025 annual report describes predominantly fee-based earnings but does not say 95% of revenue is contractually locked; the older 95% figure referred to pro forma EBITDA, while Enterprise later reported 82% of gross operating margin as fee-based.
“The Pipeline King signed a deal to power one of the country’s largest data-center campuses.” — Energy Transfer announced a February 2025 CloudBurst agreement to supply up to 450,000 MMBtu per day for roughly 1.2 gigawatts of behind-the-meter power near San Marcos, but the announcement did not establish that the campus was one of the country’s largest.
“The Pipeline King has received 90 requests from data centers seeking grid connections.” — Energy Transfer said on its February 2025 earnings call that it had requests from more than 70 prospective data centers, then reported requests to connect to approximately 200 data centers in its June 2025 investor presentation; the promoted 90-request figure is stale or garbled.
“82% of the HOA’s cash flow comes from fees collected on its assets.” — Enterprise’s earnings support shows 82% of 2025 gross operating margin was fee-based, not 82% of cash flow; the promoted wording changes both the metric and the denominator.
“The Big Landlord owns 20 million acres across 41 states and has accumulated land since 1876.” — Black Stone Minerals’ 2025 Form 10-K reports 16.9 million gross acres in 41 states, while the company markets more than 20 million acres of opportunity; its corporate history traces the business lineage to 1876.
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How urgent is this really?
The obvious question is: what is the deadline attached to? The promotion says the next P.I.P. payout is days away, but it doesn't identify a specific partnership or dated distribution event that would let readers check the clock.
We received this campaign on one day, August 18, 2026. That's too thin a record to say whether the deadline rolls, so the evidence supports caution, not a verdict about how the countdown behaves.
Other pitches from the same analyst
This isn't the first Kiyosaki Research teaser we've identified. The earlier “Shadow SpaceX” pitch pointed to Starfighters Space, Inc. (FJET), which was up 0.63% since we revealed it. That's a comparison point, not a meaningful performance record; the sample is still small.
Setting the pitch aside: how good is this list?
The pitch's central claim is simple: America's AI buildout needs more energy infrastructure, and a 14-partnership MLP basket turns that demand into dependable 8–10% income.
The infrastructure link has substance. Energy Transfer has a real data-center power agreement and disclosed requests from prospective data centers. But the copy's 90-request figure doesn't line up with the company's reported figures of more than 70 prospective data centers and later requests involving approximately 200. The weakest link is the income claim: the promotion doesn't disclose all holdings or their weights, so its blended yield can't be independently calculated. The $48.5 billion historical payout and $53 billion forecast also lack enough underlying data to verify.
The basket itself isn't one tidy risk profile. ET and EPD carry the core fee-based midstream thesis, while BSM is a mineral and royalty business with more direct exposure to drilling activity and commodity volumes. ET and EPD are the names that carry the contracted-infrastructure argument; BSM adds a different kind of land and development exposure rather than simply repeating it.
On the merits, these are real companies with real assets, but the promotion asks readers to accept one uniform income story across unlike businesses. UUUU's separate bonus thesis has genuine uranium and rare-earth operations, yet its claim that institutions can't touch it runs into reported institutional ownership of approximately 78.85%. The useful conclusion is narrower than the sales pitch: the basket has a defensible infrastructure core, while the advertised yield, urgency and exclusivity have not been shown.
How confident are we? ET 96, EPD 94, BSM 92 out of 100. We identified 3 stocks from the promotion's own clues and checked 37 claims across them against filings, earnings calls, ownership records, market data and public reporting. Confidence is scored per stock, so a weaker one does not borrow credit from a stronger one. This is our analysis, not the publisher's disclosure — we have no relationship with them.
