Despite a red hot career, Rihanna was left nearly bankrupt by the end of 2009.
According to new legal documents
obtained by TMZ, the singer claims
she had $11 million in cash at the
beginning of 2009 — but was left with just $2 million by the end of the year.
And it wasn’t because of her shopping habit.
While $2 million may still sound like
a lot for most, the problem is that the singer purchased a house priced between $7 and $7.5 million that year, which her accountant okayed.
Rihanna ultimately ended up selling
the property for a $2 million loss.
Rihanna also claims that her 2009
Last Girl On Earth concert tour was
losing money, but her accountant
failed to notify her of the losses.
The new legal docs were filed in
connection with a 2012 lawsuit
Rihanna filed against her accounting firm, Berdon LLP, claiming gross mismanagement.
Rihanna has said she hired Berdon LLP in 2005 when she was just 16-years-old and first launching her music career.
In the initial docs, the singer also
alleged her accountants took an
above-standard 22% commission from her. The accounting firm, meanwhile, maintains its innocence, stating that it is Rihanna’s “own financial action
or inaction” or the actions of others
working for her that caused her to
lose millions of dollars.
Five years, three albums, and several spokesperson gigs later, Rihanna has rebounded quite nicely with what Forbes estimates to be a $43 million fortune.