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    Walter Ude (@Walt_Shakes) is an award-winning Nigerian writer, poet and veteran blogger. He is a lover of the written word. the faint whiff of nature, the flashing vista of movies, the warmth of companionship and the happy sound of laughter. He blogs at mymindsnaps.wordpress.com.

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Rihanna is Bankrupt?!

celebs 27LOL! Not so fast. She was. Not anymore.

The pop star claims she was ”effectively bankrupt” in 2009.

The ‘Only Girl in the World’ hitmaker blames her accountants’ poor decision making for her fortune dwindling away from $11 million in cash at the beginning of the year to $2 million several months later.

In documents filed in her gross mismanagement case against the accountancy firm, Berdon LLP, Rihanna claims they gave her the go-ahead to buy a house priced between $7 and $7.5 million, which she did – and later sold for a $2 million loss. To further add to her financial woes that year, the singer’s expenses ”doubled”, TMZ reports.

In the lawsuit, Rihanna also claimed her 2009 ‘Last Girl on Earth’ tour was losing money but she was never warned of this by the accountants.

Berdon previously claimed Rihanna’s own ”financial action or inaction” or those of people working for her caused her to lose money, not their decision-making. They also dismissed her previous objection she paid an ”above-average” commission of 22 per cent as something she had signed off on herself.

The 25-year-old star is now worth an estimated $43 million.

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1 Comment

  1. Yemie

     /  February 13, 2014

    For someone with so many hits, $48million in assets sounds extremely paltry to me. These stars just can’t resist splurging and before you know what’s going down, they’re headed for the cleaners and are declared bankrupt. If Michael Jackson and Whitney Houston could declare bankruptcy, then noone’s immune as long as they’re not prudent with their spendings.

    Reply

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