fb

Rihanna and her ex Accountant.

Rihanna and her ex Accountant.

Rihanna is one of the bestselling music artists of all time. She has sold over 30 million albums and 120 million singles worldwide.

Her former accountant though is probably not thinking about how good her music is as Rihanna has just won a $10 million settlement against him and his company for bad advice which resulted in the singing star becoming “effectively bankrupt” in 2009.

Rihanna, whose real name is Robyn Fenty, was suing accountant Peter Gounis and his firm for $35 million but according to the New York Post has reached an out-of-court settlement for $10 million.

The background to the case is that Gounis and his firm advised the singer that she had sufficient money to buy a $7 million house in California and described it as a “good investment”. The only problem was that after buying the house Rihanna had to spend more than $1 million to cure water and mould damage and then eventually sold the property for $2 million less than she had bought it for.

It was claimed that Rihanna lost $9 million over the year and was left with just $2 million at the end of 2009.

It won’t come as any relief for her ex-accountant but Rihanna fans may be relieved to know that her financial position is now considerably stronger.

A series of successful albums and tours has resulted in a significant increase in her earnings.

According to Forbes magazine her earnings in the year to June 2013 were $43 million.

Share this entry

Recent articles

View All Articles
You or your boss?
Jun 13, 2024
Title
You or your boss?
Excerpt

So, should you do it or should your boss do it? I’m talking about making decisions and the […]

A takeaway or a fakeaway?
Jun 06, 2024
Title
A takeaway or a fakeaway?
Excerpt

In the final run up to your professional exams it’s often a case of cramming your final revision […]

Peloton’s ride from pandemic peak to rental rebounds
May 30, 2024
Title
Peloton’s ride from pandemic peak to rental rebounds
Excerpt

Whilst home exercise bikes can be a great way to get fit, a lot of people who buy […]

Big 4 under the spotlight…
May 22, 2024
Title
Big 4 under the spotlight…
Excerpt

Recent findings have shown that Britain’s audit firms did not raise alarms for three-quarters of the major companies […]

Better than the professionals?
May 13, 2024
Title
Better than the professionals?
Excerpt

The landscape of investing is evolving, with the rise of retail, or “do-it-yourself” (DIY) investors who are achieving […]

Don’t get angry over anger management
May 07, 2024
Title
Don’t get angry over anger management
Excerpt

Have you ever been angry at work? If you have then you are not alone. The latest Global […]

Cows or dogs in your portfolio?
May 01, 2024
Title
Cows or dogs in your portfolio?
Excerpt

As well as being included in ACCA, CIMA and CMA (USA) exam questions over the years, the Boston […]

KPMG unlocks previously locked up talent.
Apr 30, 2024
Title
KPMG unlocks previously locked up talent.
Excerpt

KPMG, one of the Big Four accounting firms, has recently announced its commitment to expanding its hiring of […]