Rihanna is Broke?
Press reports are indicating that R n’ B superstar Rihanna is broke.
Rihanna has reportedly fired her business manager, Patricia Williams, after finding out she has a mere $20,000 remaining in the bank accounts.
The singer and her Management Company, Rebel One, held emergency talks with Williams which resulted in 20-year-old Rihanna accusing Williams of stealing her money.
Obviously not happy having her name and reputation slandered so publicly, Williams retorted back through the press saying:
“I’m a professional Business Manager, I have a staff of more than a dozen, I have worked for many high profile actors, musicians and multi-million dollar corporations. Why would I steal from Rihanna? I showed her all the paperwork and tried to explain to her the circumstances but she wouldn’t listen. She called me all sorts of horrible names and stormed off. I now feel compelled to share with the world the background story as I will not allow my name to be slandered”
According to Williams, Marc Jordan, owner of Management Company Rebel One and Rihanna’s manager, has been mismanaging the star’s funds.
She told reporters:
“Def Jam doesn’t fund Rihanna properly, so Marc uses the money Rihanna makes from third-party endorsements and from tours to fund her album and music videos,”
she continued:
“I don’t want to disrespect Marc’s name. He is a fantastic manager and genuinely believes in Rihanna. But he uses her money to fund her future projects because he believes he can break her in the world-market. Her album sales are not nearly as close to her single sales and he knows that if she is only known as a ’singles artist’ she will only be as good as her last hit. Unfortunately, he didn’t inform his client and I’m receiving the brunt of it.”
Rebel One have made a lot of money from Rhianna in the past 3 years, gaining from her many endorsements including Cover Girl Cosmetics, JC Penney and Samsung, not to mention pumping out 2 albums in such a short space of time.
Williams explained the extent of the apparent money mis-management: “At one point Rihanna was opening up for the Pussy Cat Doll’s in Europe. She was making 30,000 a show but she didn’t see any of that money because it was needed to fund her next album ‘Good Girl Gone Bad’.”
A lot of material and videos released since that have also been allegedly funded directly by Rihanna herself and not the record label, resulting in the singer now claiming she is “broke”.
Only really dumb people let others control their money.
Be the first to give your opinion on this story!