Shocking: Rihanna : ‘I Almost Went Bankrupt’

Published: Wednesday 12th Feb 2014 by David
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She may not have breathed a word about it at the time, but legal documents published today have revealed the Pop vixen Rihanna suffered a bankruptcy scare in 2008, brought on by a supposedly incompetent accountant.

Full story below…

In legal documents obtained by Time Warner’s TMZ, the Def Jam darling  revealed that she started 2009 with $11 million in cash to her name, generated by ventures launched after debut in 2005.

Alas, after taking a look at her finances at the end of that year, she learned that only $2 million of that $11 million was left, a problem that now rests at the door of her then accountant.

TMZ explains:

“As for how Rihanna blew through $9 million in one year … she says her accountant gave her the green light to buy a house priced between $7 and 7 1/2 million. So she took his advice. She ultimately sold the house for a $2 million LOSS.

She also claims her 2009 tour — ‘Last Girl on Earth Tour’ — was losing money but the accountant never gave her the heads up.

The legal docs were filed in connection with a lawsuit Rihanna filed against her accountant, claiming gross mismanagement.”

Launched to support her fourth studio album, ‘Rated R‘, Fenty’s ‘Last Girl‘ tour pulled in a reported gross revenue $24,248,656 by the end of its 67 date run, enjoying dates at London’s 02 Arena and New York’s Madison Square Garden.

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  1. iamthetruth February 12, 2014

    She should just admit that she’s stupid. You cannot blame your accountant entirely. Even if I were worth millions like her, I’d still want my own copies of money coming in and out. Just another example and Rih blaming everybody else but herself.

  2. Sam Loves Rihanna February 12, 2014

    Welcome to the showbiz, Rih…new artists get screwed all the time, but you got the last laugh because you are the Queen of Pop now. #TheRihannaReignWontLetUp

  3. Arie February 12, 2014

    At least she bounce back.

  4. truth February 12, 2014

    Almost went Bankrupt?…..no wonder why she set up Chris brown

  5. Your Mother February 12, 2014

    Stop living in the past, sweety. This was 5 years ago and her tours have since made MILLIONS. Check your lipstick before you talk about Rih. Bye, hater.

  6. BeyIsKing (Mrs. Carter Show 2014 – 8 Days Left) February 12, 2014

    Surely Rih knew she had $11 Mil in her bank account so why would she even contemplate buying a $7 Mil house? Common sense ought to have told her it was a bad idea with or without an accountant’s advice.

  7. BeyIsKing (Mrs. Carter Show 2014 – 8 Days Left) February 12, 2014

    But she’s swimming in millions now so whatever…

  8. Jon February 12, 2014

    And she has the nerve to tweet “I hate broke b******”.
    She’s so arrogant, karma will get her again.

  9. h2o February 12, 2014

    truth: “Almost went Bankrupt?…..no wonder why she set up Chris brown”

    Was this funny when you wrote it?

  10. Bey Fan February 12, 2014

    These people dont care about the artist. Its all about money. Im glad she bounced back.

    Im not sure why her or her accountant thought it was a good idea to buy 7 million dollar house. But she was young and probably a little naive ….and the accountant didn’t give two shits about the girl.

  11. Stephy February 12, 2014

    She is not the Queen Of Pop ! LOL Delusional Navy

  12. Lovebird February 12, 2014

    Good thing she bounced back but these rich people kill me.

    A $2 million flush is almost going bankrupt? Gurl f****** bye.

  13. Lovebird February 12, 2014

    This reminds me of when Donald Trump was claiming to be broke when he was living in a lavish penthouse in NY and eating gourmet meals; these rich people just need to stop.

  14. Lily February 12, 2014

    Some stans will start that shitty mess again. Rihanna’s quote “I’m not gonna ever crash,I’m in Control.” #ThatRihannaReignJustWontLetUp

  15. ILOVEJAMESDEAN February 12, 2014

    After 13 #1’s, this is all she got?

  16. Bey Fan February 12, 2014

    @Loverbird … i have to agree. They claiming they’re broke but still have millions… I dont get it.

  17. Lovebird February 12, 2014

    Anyway Mzz Fenty I cannot defend you on this one; you need to keep your eyes on them coins, this is a shady industry.

    If you’re dealing with incompetent accountants, Jay Z and LA Reid, that is a red flag that you need to account for every single penny.

    Not everyone is lucky enough to string Tommy Motola along or have a business savvy dad with a Bsc in Business Administration on their side; you need to keep an eye on them coins baby.

  18. The Boy Toy February 12, 2014

    This happens to artists all the time. The average person does not know how to handle millions. I’m glad she was able to bounce back. 😉

  19. FAF February 12, 2014

    360

  20. The Boy Toy February 12, 2014

    @FAF yet she’s still worth more than your fave will ever be. Btw she signed a new contract in 2011. 😉

  21. IStanForYourFav February 12, 2014

    SMH. It actually sucks beyond words how artists are broke behind their “billion dollar networks.” I will NEVER believe in a Forbes list. It’s smoke and mirrors just like the rest of the industry. It’s a good thing she bounced back. Bc some are not so lucky.

  22. Lily February 12, 2014

    It is you Karma will hit back at with Hypertension,Heart Attack or Cardiac Arrest cus That Rihanna Reign Just Won’t Let Up. Now step back and live happily and stop hating cus b**** Rihanna ain’t crashing she’s in Control.

  23. Lily February 12, 2014

    I see you have a problem. You can’t read. You don’t understand English. So STFU

  24. christinastherealtalent February 12, 2014

    she just wants attention and a pity party. Why now? Why not reveal this years ago?

  25. The Boy Toy February 12, 2014

    This was reported years ago and maybe she didn’t WANT to talk about it? She’s in a better situation now, so why not?

  26. Suicide Blonde February 12, 2014

    So many interesting news about music these days but Rihanna’s money & Beyonce’s vacation is way more important, right?

  27. Royalkev February 12, 2014

    I hate stories like this. Too many of our stars end up broke. I’m glad she turned things around, I wouldn’t wish bankruptcy on anyone.

  28. JJFan1814 February 12, 2014

    And today she’s swimming in millions with all these album/tour sells, endorsements, and movies! 😉

  29. DANCE DIVA February 12, 2014

    F*ck Rihanna. TGJ PLEASE PLEASE post Ask Men 99 Desirable Women! Rita Ora >>>>>>>>>>>>>>>>> Rihanna lmaooooooooooooooooooooooooooooo The men have voted

  30. mekaela February 12, 2014

    she can blame the accountant because they are responsible to manage your money and if your accountant tell u that u have money you will believe them i think these crooked accountants thought they could rob this young nieve girl from the island it happens alot and im glad she was smart enough to recover so u haters need to f****** chill

  31. ROSEGOLD February 12, 2014

    How is this shocking? I knew about this years ago. She bounced back. A lot of her counterparts aren’t as lucky.

  32. no words February 12, 2014

    .

  33. DANCE DIVA February 12, 2014

    Post it Sam. Ask Men Most Desirable Women. I’m ready for the Dragfest!

  34. My Forehead Tho February 12, 2014

    Though she’s still making way less than new artist like Gaga , Taylor, and JB after 9 years in the business, 7 albums and 13 #1 singles, I’m glad she’s earning something.

  35. Davis February 12, 2014

    AND SHE HAS THE AUDACITY TO TWEET SHE HATES BROKE B****** BAHAHAHAHA!

    I can’t with this dumb forehead!

  36. Davis February 12, 2014

    AND ALSO, DEAD AT SOME NAVY MEMBERS TRYING TO DRAG BEAUTIFUL BEYONCE YESTERDAY WHEN THE 32 Y/O MOTHER STEADING GETTING VOTED IN FRONT OF FOREHEAD ON MENS MOST DESIRED STILL.

  37. Davis February 12, 2014

    STEADY

  38. ziah February 12, 2014

    i agree

  39. ziah February 12, 2014

    me either. Forbes talks about how much celebs make every year,. but they neve include how much of that money is going to accountants, lawyers, managers ,agents, and taxes

  40. Bosslady February 12, 2014

    Who cares, we all are a little naive when we’re young, the smart thing to do is “Bounce Back” as she has, and is making millions, a lesson learned and I’m sure she will not revisit that mistake again….*applauds Rih Rih”

  41. Mark111 February 12, 2014

    11 million with only 3 albums isn’t bad at all. She messed up with that house. On 2010 or 09 Jay Zealand got her a publishing company and her name (I don’t know if she writes or not) are on her songs and she’s executive producer on her albums after Rated R. Plus she has a new contract, I’m sure she’s even more in control.

    But good for her getting back in to studio and kept working, most would’ve quit or complained.

  42. ziah February 12, 2014

    im glad she bounced back because some of her peers havient been able to. Im glad she doing good now. I love a success story.but at the same time why did she buy a $7 million hous hen she only had $11 million in the bank. im not an accountant. but even I could have tod her that was a bad move

  43. jharris February 12, 2014

    spend less money dummy!

  44. toohotfortv February 12, 2014

    You are stupid @IAMTRUTH when you or the rest of the people who liked your comment get that kind of money then you can speak. An artist of Rihanna’s caliber, has to have so much of your attention elsewhere. One truly does rely heavily on an accountant and other people to keep the machine well oiled. Rihanna is a brand/damned near a corporation unto herself. Her going bankrupt would not only affect her, it would affect all of her staff. You can’t expect her to sit down every night after a concert (or appearance) and tally up receipts. That’s why there are accountants. Do you suggest that line of work not be in existence?

  45. GoldenBoy J. February 12, 2014

    Is anyone else thinking that two million dollars (!) is NOT exactly “almost bankrupt”?

  46. N February 12, 2014

    I guess you don’t understand entirl;y what going bankrupt means. She only had $2 million in her account yet she was losing massive amount of $$..way more than what she was making. That qualifies for bankruptcy considering she probably couldn’t pay any of her bills. And from the article, it appears that she was going to have to file bankruptcy but she sold the home she owned and made some major final adjustments & fired her accountant.

  47. Jewel February 12, 2014

    Bwahaha! Stupid beeottch!

  48. honeyBEEEE February 13, 2014

    She only had 2$ million left.. omg she must have been so bankrupt….

  49. Jemina Nelson February 17, 2014

    RIRI IS IN THE TOP 20 WITH BEY AS THE ONLY BLACK WOMEN IN THERE SO FOG OFF!

  50. Jemina Nelson February 17, 2014

    AND KERI (MY BAD) WHO THE GUYS SAY >>>>THE QUEEN B.

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