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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

No Avatar
61.

jen    

If you have 11 M and spend 7 1/2 M on a house then you will only have 2 1/2 M left. LOL Little children could figure that one out. She's needs to stop partying and showing up 3 hours late for her concerts. I can't understand why anyone would buy a ticket to begin with.

220 days ago
62.

Pierced Princess    

Well my heart just aches for the poor little thing.

220 days ago
63.

Vic Creed    

Sign your own checks and you won't have this problem.

220 days ago
64.

Greg    

Smoking to much dope?

220 days ago
65.

Autofill Rach    

Ok, so you're saying a grown A$$ woman can't manage her money? Why blame it on the accountant? She is a big girl, she can just as easily buy an old fashioned ledger and start accounting for her own finances. This will never cease to amaze me. "The accountant gave me the go ahead to buy a $7 million dollar house" ...so you're going to listen to your accountant on something you want to do? If you aren't old enough to know how much money you have in your bank account at the end of the day, maybe you shouldn't be making that much money. Just saying.

220 days ago
66.

Skar    

Wow, 2 million is bankrupt?

220 days ago
67.

itzkathy    

"A FOOL and their $$$ are soon parted" explains EVERYTHING

220 days ago
68.

kristynnj    

Oh. 2 million dollars is bankrupt? Then what the hell am I??????

220 days ago
69.

Tax    

I call BS, from someone who works in celebrity world of taxes. Most of these artist do not listen to the advice given, they spend money out of control and then Like to blame others. How much did she smoking dope that year. A lot of celebrities complain they have to pay taxes.

220 days ago
70.

JS    

Wny everyone bugging like it didn't say at the end she has a net with of 43 mil now Lmao she was just getting popular in 09

220 days ago
71.

Rigby    

Lol don't blame someone else. You know you used all your money on drugs and stupid ****.

220 days ago
72.

bmsvds    

Utterly AMAZING how entertainers and professional sports figures live so large and blow through all their money like they are invincible. Personally, I smile and laugh at these types that end up in the ditch.

220 days ago
73.

bmsvds    

Why someone would spend millions on a huge house when they are rarely there is a mystery to me. Then they complain when someone breaks into it.

220 days ago
74.

taz    

Weed and strippers. That's where all her money went.

220 days ago
75.

boo boo    

She is NOT stupid....her accountant with a fancy degree and list of other satisfied clients is OBVIOUSLY the stupid one. There's no way she SHOULD have known that half empty arenas, bad Cris Brown PR, and $10,000 trips to the strip club were causing her bank account to shrink faster than Drake's nuts....I'm just saying SHE'S not stupid.....right? Never!

220 days ago
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