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Rihanna

I Was Bankrupt

Because of My Stupid Accountant

2/12/2014 1:00 AM PST BY TMZ STAFF
EXCLUSIVE

0211-rihanna-tmz
Rihanna
says her accountant made so many boneheaded decisions that he blew her fortune and she was "effectively bankrupt" by the end of 2009.

The singer claims in new legal docs she had $11 MILLION in cash at the beginning of 2009.  Rihanna says the accountant was not on the ball and she was horrified to learn at the end of the year she had $2 million left. To make matters worse, her expenses doubled, which left her on a financial cliff.

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.

BTW ... Rihanna has rebounded nicely.  Her net worth is now estimated at $43 mil.

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196 COMMENTS

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1.

Steven Peacock    

Too bad. But it does happen to a lot of people.. But she will recover..

169 days ago
2.

dimes    

Wait a minute. She overpaid for a house and it's her accountant's fault she had to sell at a loss? She went through a boatload of cash while on a tour that she must have known wasn't going well, and it's the accountant's fault? Doesn't this girl have a manager?

169 days ago
3.

Cherokee    

I think she has worse issues to worry about than money, like her morals. but nobody's perfect.

169 days ago
4.

realtalk    

So much money for someone who Cant sing

169 days ago
5.

IamJacksweekoff    

Since when is 2 mil "effectively bankrupt"?

And lol Rihanna, sounds like you made dumb spending decisions without having the common sense to check how much was in your bank account. Nobody is accountable for your willful ignorance except you.

169 days ago
6.

tmzer    

yeh yeh. 5 years ago...

just hit me... you delivered THAT story. o_O

169 days ago
7.

harvey is racist    

man, the entertainment game is all smoke and mirrors

they act like they're rich and folks believe them but theyre running around damn near penniless..

kids better stay in school and get a steady gig like a doctor or something..cuz this entertainment **** is more fickle than water..

169 days ago
8.

namers    

Stupid is not getting a college edumacation.

169 days ago
9.

Cecilia     

Or more likely you were too busy parting and living the life to realize that it's called 'Show BUSINESS' and it's your responsibility to watch those you employ. It's YOUR money, not theirs - this it's YOUR responsibility.

169 days ago
10.

myliverhurts    

What a dummy! I have no problems managing a weekly $60...0 paycheck.

169 days ago
11.

Umanyways    

Typical celeb blaming someone on her staff for something she could checked herself. Before she was famous she would check on the small income she had but when Ur famous oh it so big now u can't get an account balance?

169 days ago
12.

Umanyways    

She was bankrupt for blowing it on being too drunk n high on everything under the sun

169 days ago
13.

spader    

Sober up and take care of business. Blaming an accountant for your poor taste is real estate really isn't his issue.

169 days ago
14.

Lil-za    

Rihanna it's your fault,you were roosting / high to notice you hired a bozo

169 days ago
15.

Truth is    

These celebturd send up broke....the record company makes bank not them. She's barely making it. They blow up their worth like rappers.

169 days ago
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