Rihanna Claims She Was "Effectively Bankrupt" In 2009 [Update: Rihanna Wins Lawsuit]

Rihanna Claims She Was "Effectively Bankrupt" In 2009 [Update: Rihanna Wins Lawsuit]

Rihanna is suing her accountant who she claims gave her bad advice, leaving her "effectively bankrupt" in 2009.

Rihanna is doing pretty well for herself, so it comes as a shock that the singer says she had hit a point where she was "effectively bankrupt" back in 2009. 

RiRi is suing her former accountant, who she claims gave her some pretty suspect financial advice that year. Apparently, the adviser told her to go ahead and buy a 7-7.5 million dollar home, when she was not in the market for that type of purchase.

At the beginning of 2009, the singer had $11 million in the bank, but was left with only $2 million by the year's end, with doubled expenses and a tour that was losing money-- which the accountant allegedly neglected to inform her of.

Turns out, she had to sell her house, and lost another $2 million in the process. She forwarded new legal documents claiming all of this, in support of her ongoing suit with the accountant for gross mismanagement.

So was RiRi really "bankrupt"? Probably not, but it does seem like she was unnecessarily tight for money-- being one of the biggest pop stars in the world and all.

Either way, she's certainly bounced back, with her net worth currently at $43 million.

[via]

[UPDATE: Rihanna Wins Lawsuit Against Her Accountant]

As we reported the other week, Rihanna was suing her accountant for millions because of the bad advice he gave her back in 2009 (specifically, to purchase a $7 million home, when she could not yet afford it). Although we doubt Rih Rih really needs the extra money at this point in her career, she nonetheless came out on top of the suit.

“The defendants advised Ms. Fenty by e-mail that purchasing a home in Los Angeles ‘would be a good investment’ despite knowing Ms. Fenty was experiencing financial difficulties,” Rihanna’s lawyer, Edward Estrada, wrote.

Page Six of the NYPost reports that Rihanna has worked out a settlement with the accounting firm, whom she first sued for $35 million in 2012. Rihanna will be signing a $10 million settlement from accountant Peter Gounis and the firm Berdon LLP, some time this week.

Comments

Add Comment View Comment Thread
top comment
You may also like...
Password must be at least 6 characters.