Here's How Rihanna Ended Up Nearly Bankrupt In 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.