*With all the money she pulls in from her music, it’s hard to believe that Rihanna was at one point “effectively bankrupt.”
But that’s exactly what the singer is claiming in new legal documents filed in connection with a lawsuit she filed against her accountant for gross mismanagement.
Ri-Ri references a string of boneheaded decisions that resulted in her bankruptcy.
In the legal documents, the entertainer claims she had $11 million in cash at the beginning of 2009. Despite this rosy picture, Rihanna says she was horrified to discover that she only had $2 million left by the end of that year in light of her accountant not being on his job. Add to that, doubling expenses and things weren’t looking so good for the “California King Bed” vocalist, according to TMZ.
Rihanna further claims in the legal documents that $9 million was spent when she took her accountant’s advice to buy a house priced between $7 million and $7 ½ million. That guidance ultimately did the singer in as she sold the residence for a $2 million loss.
Needless to say, ’09 was not a good year from Rihanna, who added that her accountant never informed her that she was losing money on her Last Girl on Earth Tour that year.
Gross mismanagement indeed, but don’t worry about Ri-Ri. She’s currently sitting pretty with a net worth estimated at $43 mil.
Must be nice…