If there is anything Rihanna doesn’t have to worry about today, it’s money; but she claims that wasn’t the case a few short years ago after her accountants allegedly grossly mismanaged her money.
At the beginning of 2009, Rihanna had $11 million to her name and by the end of the same year that amount plummeted to $2 million, forcing the star to go “effectively bankrupt,” according to legal documents filed yesterday. According to TMZ, Rihanna had no idea she was losing money until it was too late.
Her Last Girl on Earth Tour was operating at a loss but her accountants allegedly never made her aware of this– giving the singer the impression that she was pulling in major profits throughout the entire tour when in actual fact her expenses reportedly doubled. Add to that the fact she purchased a house worth $7 million and she was effectively in some serious debt!
By the time Rihanna realised what was going on, it was too late to fix the mess and she was forced to sell the home for a whopping $2 million loss.
According to her accountants, however, that’s not the way things went down. Instead they say Rihanna was the one making poor decisions with her money and she foolishly spent all her money that year but its been noted that the 22% commission that her accountants took was well over the average cost for a celebrity accountant.
Before you start passing around a collection plate for her though, we gotta tell ya RiRi is worth some serious money these days and her financial difficulties are a thing of the past. It’s estimated that in 2013 alone she raked in $43 million, while her net worth is around the $85 million mark….enough to keep the troika off her back we’re guessing!!
(Images and source – Atlanta Star)
