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.

Rihanna albumHer 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.

Will her next murder mystery novel involve an accountant?

She is one of the most successful authors in the world and has sold over 100 million books featuring the character Dr Kay Scarpetta. She’s[..]

Should you stop being an accountant?

So, you're working hard to get a professional qualification. But is finance and business the area you should be in? Will there still be a[..]

Do you want to become Lady Gaga's Accountant?

We get a weekly report on the phrases that people are searching for when they visit our website. As well as the search terms that[..]

Zooming in...

At the start of the year zoom calls were relatively uncommon. Now though, with the global pandemic, they are a common feature of business life[..]

I'll stick to that...

New product innovation is vital for lots of organisations. Sometimes though the idea for a new product can come from unusual places. VELCRO is a[..]

Out of this world advertising...

Getting professional photos taken for advertising can be expensive but this particular photo shoot for Estee Lauder is expensive. Very expensive in fact. 4 hours[..]

An Apple for 100 Companies..

Whilst a lot of companies around the world are struggling or going out of business due to the Covid-19 pandemic, some are doing very well.[..]

Cows vs. oats

Things are changing in the milk business. Or rather, I should say things are changing in the dairy milk and vegan milk business. Over the[..]

Big Mac with 4 sides

We blogged last year about the former boss of McDonald’s being fired due to a relationship with a colleague but it turns out, there may[..]