I’ve seen it claimed in numerous places over the years, including in Amway approved BSM, that Amway is “a 100% debt free company“.
I’ve always been curious if this was something that was actually true. Debt is not always a bad thing, and there can be very sensible business reasons to use properly managed debt instead of cash reserves or other methods to fund expansion or other new developments, not to mention simple day to day operations.
Well, it’s not true. In response to a tweet earlier today, Amway’s official twitter account responded –
Hi, Wes, and thanks! In fact, Amway is not 100% debt free (no company of our size is) but we are proud to be so financially stable!
I think it quite possibly was true at some stage and has simply been repeated ever since. Time to stop! Stating myths as fact just gives our critics ammunition.