Money

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.

"Basketball Wives" star Eric Williams -- who spent 12 seasons in the NBA -- is on the hook for more than $24k in unpaid child support ... but his baby mama says the 41-year-old has gone M.I.A.

TMZ Sports has learned ... back in November, a Colorado judge ordered Williams to fork over a total of $24,434.45 to the mother of his 13-year-old son.

Problem is ... no one can find Williams to collect the cash -- so the baby mama has yet to collect.

We contacted to the woman's lawyer who tells us, "Efforts to locate [Williams] have been exhausting."

It seems the woman's legal team is preparing to turn up the heat if she doesn't get paid -- and could move to get Eric locked up if he doesn't pay up.

It's not the first time Williams has had child support issues -- last year a judge issued an arrest warrant for the guy after he blew off a hearing in which he was supposed to submit a DNA test to establish paternity for a different child.

George Zimmerman will not be bare-knuckle brawling ... TMZ has learned the celebrity boxing match has been canceled again after Trayvon Martin's family refused to accept any money from the fight's promoter.

As we reported ... FilmOn.com CEO Alki David wanted Zimmerman to fight multiple high profile opponents in a fight-club style match ... and said he would donate all profits to the foundation created by Trayvon Martin's family.

But late today the foundation told TMZ it would NOT take any money from the fight, saying it "stands boldly against any act of violence" and would reject David's donations.

When we called David for comment he decided to pull the plug altogether, saying ... "I respect the wishes of the family and in light of this we are canceling the event."

The original bout -- planned with DMX -- was axed when the first promoter got 2nd thoughts ... and death threats.

Gabrielle Union is lying through her big, beautiful teeth ... at least when it comes to her pre-nup -- because she says she's demanding one with Dwyane Wade ... and it makes NO sense.

Union went on "Arsenio Hall" last night and said she's demanding a prenuptial agreement before they tie the knot "at my insistence."

She explained, "I gotta protect my stuff" ... adding, "When you have your own stuff you don't need to worry about anyone else's stuff."

Only problem is ... it's not HER stuff that needs protecting, since Dwyane has gotta be worth at least 10 TIMES what she's worth. In fact, he's currently toward the end of a 6-year, $107 million contract with the Miami Heat.

AND he's expected to sign ANOTHER HUGE CONTRACT sometime in the next year ... some say it could be worth as much as $100 mil.

Let's do some simple math. Even if she's worth $20 mil ... he could be somewhere in the $200 MILLION range.

So, if they continue that financial pattern and he makes 10-times what she makes ... she's saying she would rather walk away with a tenth of what she COULD get.

"Duck Dynasty" star Willie Robertson made an impression during the State of the Union address -- not so much with the President, but with 2 waiters who are now THOUSANDS of dollars richer.

Radio host Sean Hannity posted the pics ... showing Willie and his wife at Ruth's Chris Steakhouse in D.C. -- hanging with Sean, GOP Senator Ted Cruz, former Congressman Newt Gingrich and conservative radio host Mark Levin.

The group closed the joint down -- the restaurant normally closes at 11 PM but the group stayed 'til 2 AM ... and they racked up a $5,000 bill.

Willie grabbed the tab and left a gratuity -- FIVE THOUSAND DOLLARS! In case you have trouble computing .... a 100% tip.

Obama recently went to a local burger joint last month and left a 30% tip. Respectable but no contest.

See? Republicans don't have any problems redistributing wealth.

Terrell Owens says his estranged wife is lying -- insisting he's NOT broke ... and he vows to file divorce papers AGAINST HER as soon as he gets back into town.

We broke the story ... after two weeks of marriage, T.O.'s wife Rachel Snider says she left the NFL star and claims he only used her to get a loan for a home in Sherman Oaks.

But T.O.'s rep tells TMZ Sports bluntly -- "Money is NOT an issue for Terrell."

In fact, the rep says Terrell is the "primary" person on the loan -- and Owens is adamant he never hooked up with Snider for money.

"Come on, she’s a postal worker," the rep says ... adding, "Do you really think she’s the primary on the loan?”

The rep says T.O. is currently out of town working on a "new show coming out in March" (she wouldn't reveal details about the show) ... but says he plans to file for divorce as soon as he returns to California.

Dwight Howard is finally cutting ties with the city of Orlando -- selling the amazing mega-mansion he abandoned there over two years ago ... for a HUGE loss, TMZ Sports has learned.

Dwight -- who was drafted by the Magic back in '04 -- originally dropped $7.78 mil on the 11,025 sq ft Longwood, FL property when it was built in '08 ... but now the place could be yours for a cool $4.9 mil.

The house is incredible ... built in the Gothic style and nicknamed the "Chateau D'Usse" -- after the famous French castle -- it has 5 bedrooms and comes complete with vaulted ceilings and fancy designer furniture.

It gets better, according to our friends at at Reatlor.com, you'll also find a massive kitchen with separate food prep area ... a large family room with two-side fireplace leading to a man cave (complete with pool table and wet bar) ... a temperature controlled wine cellar ... and a tiered movie theater.

But the outside is where things get really awesome ... there's a covered patio with fireplace and entertainment center ... an incredible pool with water-falls, water slides, a swim-in grotto ... and (best of all) a LAZY RIVER.

Skrillex might wanna cut stage diving out of his repertoire -- TMZ has learned, a fan has just sued the DJ for leaping on top of her from a stage in 2012 ... and giving her a stroke.

Jennifer Fraissl filed the lawsuit, claiming Skrillex -- real name Sonny John Moore -- took a flying leap from his DJ table during a performance at The Belasco in Downtown L.A. in February 2012 ... and landed on top of her.

Fraissl says she was standing near the front when Skrillex beckoned the crowd forward -- making it impossible for her to leave or even protect herself -- and that's when Skrillex jumped from his table ... several feet above the stage.

Fraissl says she suffered several injuries when the DJ landed on her, and later suffered a stroke as a result of the trauma.

She's now suing Skrillex (who's pretty well known for stage diving during his shows) as well as the nightclub -- claiming Belasco failed to prevent Skrillex from acting so recklessly. She's asking for unspecified damages ... medical expenses, loss of income, and more.

Calls to the nightclub and Skrillex's camp weren't returned.

1:43 PM PT -- We found a video of Skrillex stage diving that night. It's unclear if this was the stage dive referenced in the lawsuit ... but it fits Jennifer's description nearly exactly.

Michael Jackson was broke as a joke when he died ... so the IRS tax attack is showing a glaring ignorance ... so claim the people who run the MJ Estate.

Sources connected with the Estate tell TMZ ... they never suggested the Beatles catalog was worth ZERO -- to the contrary they agree it's worth around $1.5 BILLION.

That said ... sources say there's a reason they put a big fat zero in the Beatles column when they filed tax returns just after Michael died. They say there was a $700 million loan taken against the purchase of the catalog, bringing the net value to $800 million. Michael and Sony were 50/50 partners ... which means Michael's share was around $400 million.

Now the debt. Michael leveraged his interest to the hilt -- he borrowed $320 million against the catalog. And He owed another $200 million in personal debt ... And that's why they put ZERO.

One bone of contention -- although the Estate values the catalog at $1.5 billion, the IRS says it's DOUBLE that amount.

Estate sources say the IRS is also off base on the issue of MJ's likeness and image, which they valued at only $2,105 at the time he died. The IRS says it's worth more like $434 million.

Our sources say you have to look back at June, 2009. They say Michael made zilch on his likeness and image for the 15 YEARS before his death -- no commercials, not even T-shirts ... no one wanted to be associated with him -- at least commercially.

And finally ... as for the Jackson 5 music collection -- the Estate says it was worth $11.2 mil when Michael died ... the IRS says $45.5 mil.

So the sources say after settling up with Motown, MJ's interest was a lot less than people think. The Estate would gladly sell Michael's rights even today for $45.5 mil ... they say they'd sell it for $30 mil!

Magic Johnson is going to SAVE the WNBA ... or at least the L.A. Sparks ... so says Mark Cuban who tells us if there's anyone who bring the team back from financial ruin, it's their new celebrity owner.

Shocking, considering the Sparks are BROKE ASS BROKE -- they haven't made a profit in years and were expected to lose another MILLION DOLLARS this season.

But that was before Magic and his ownership group stepped in ... and now Cuban (who knows a little something about investments) says it's the perfect move.

TMZ Sports: Do you think Magic can turn the Sparks into a success?
Cuban: "Yes yes yes. I love it. It will be great. Plus with his Dodgers ownership he will have a promotional platform."

Fun Fact -- the Sparks actually led the league in attendance over the past two seasons.

Gladys Knight is sinking a ton of her own cash into a $2 million project to save a North Carolina landmark -- a segregation era all Black school -- with ties to her family ... TMZ has learned.

Gladys tells TMZ she and her husband Billy McDowell are converting the abandoned building in Canton, NC ... where Billy's mother worked as a janitor. It's been sitting empty since the early 50s when schools were integrated there.

Gladys and Billy are renovating the old school into a shiny new public rec center -- and already spent $85,000 just to buy the building ... but hope this will help keep the history of the community alive.

They tell us they're actively raising funds to pay for the all upgrades ... which they estimate will cost a total of $2 mil.

The Michael Jackson Estate is insane for trying to value MJ's Beatles collection at ZERO for tax purposes ... so says one of the most prominent Beatles experts in the world ... who also happens to be a tax attorney.

The Estate is in a dogfight with the IRS ... which claims MJs people stiffed the government on more than a half a BILLION dollars in taxes by undervaluing assets ... including MJs interest in songs by MJ and the Beatles. The Estate says the asset is worth NOTHING. The IRS says the Estate should have declared a value of $469 million.

Beatles guru and attorney Bruce Spizer tells TMZ, "No one could value that collection at zero with a straight face." Spizer, who has written 8 books about the group that changed the world 50 years ago tonight on "The Ed Sullivan Show," says the IRS may have "slightly inflated" the value of the catalog, but believes it's definitely worth minimum $300 million and could be as much as $400 million.

Spizer says, "For the Estate to list the value at zero, they lose all credibility."

Reps for the MJ Estate tell TMZ, they dispute the entire IRS analysis of MJs assets. The reps say they used nationally-recognized experts to determine value while the IRS wallows in speculation.

George Zimmerman will not be going toe-to-toe with DMX in a celebrity boxing event ... and the promoter says it's because his conscience finally kicked in.

The promoter for the event took to Twitter Saturday afternoon to officially cancel the event ... and said he finally realized there's "more to life then money."

The promoter adds, "Just looked at my son and daughter today wow I'm so lucky those people must be in so much pain ... all you people are right."

Unclear exactly what he meant by "those people" ... but probably a poor choice of words.

The Michael Jackson Estate is in the crosshairs of the IRS for allegedly cheating taxpayers out of a fortune ... and now the taxman wants the Estate to pay the piper -- to the tune of more than $700 million.

The allegations are stunning. According to legal docs -- obtained by the L.A. Times -- when Michael died the executors told the IRS his net worth was around $7 million. The IRS now says MJ's net worth was actually $1.125 BILLION!

And in a HIGHLY unusual move, the IRS claimed executors so grossly misled the agency, it doubled the tax penalty -- from 20 - 40%. So the IRS claims the Estate didn't pay $505 million worth of taxes, and when you add the 40% it comes to more than $702 Million.

As for what the agency says was under-reported:

-- The Estate valued MJ's likeness at $2,105. The IRS says the value is actually more than $434 million.
-- The Estate valued Michael's interest in a trust that owns songs by MJ and the Beatles at ZERO! The IRS says its more like $469 million.
-- There's another MJ trust the Estate claims is worth $2.2 mil. The IRS says it's worth $60.6 mil.
-- The Estate valued the Jackson 5 master recordings at $11.2 mil. The IRS says $45.5 mil.

It's pretty clear the Estate will fight this like crazy, but worst case scenario the taxes could wipe out what the Estate has made since MJ's death ... which could be devastating for Michael's kids.

We contacted a rep for the Estate who says they stand by their initial statements on the matter ... telling us, "The Estate of Michael Jackson disputes the IRS position in its entirety."

Magic Johnson's son EJ is BLOWING UP as a reality star on "Rich Kids of Beverly Hills" ... and the NBA legend tells TMZ Sports he couldn't be PROUDER!!!

In fact, Magic says he thinks the shameless E! reality show will springboard EJ into a TV superstar -- and predicts it won't be long before the kid has his own show.

Magic really couldn't be a more supportive parent -- especially after the way he had EJ's back when his son revealed he's gay.

There's more .. Magic also talks about recently buying the L.A. Sparks and also takes another shot at the Lakers. Check out the clip.

Rapper T.I. is the Henry Kissinger of hip hop ... because he's done what seemed like the impossible ... brokering a peace treaty between Rick Ross and Young Jeezy ... TMZ has learned.

You'll recall ... the Ross/Jeezy beef goes way back ... and got nuclear at the BET Hip Hop Awards two years ago when the two rappers tangled backstage and shots were fired in the parking lot.

Sources close to both men tell TMZ those days are gone -- as is the bad blood -- all thanks to T.I., who had a kumbaya moment with Jeezy.

T.I. told us he had a heart-to-heart with Jeezy and got him to see he had taken his eye off the ball. He was focusing on bad blood rather than what was important -- MAKING MONEY.

Jeezy saw the light and Rick ended up seeing things the same way.

Not only did they bury the hatchet, they agreed to work together on a new Ross track.

Follow the money ... and life will be easy Jeezy.