Rihanna Is Broke
Aug 18, 2008 AT 02:33 pm
Ok, well for a lot of people this isn't actually broke, but for an international superstar who should have millions to her name this is bad news. Rihanna supposedly only has $20,000 in the bank. She was so shocked when she found out that she accused her business manager, Patricia Williams, of stealing from her and fired her.
According to Willliams, Marc Jordan, manager and owner of Rebel One Management has been taking care of Rihanna's financial situation with her. "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.
"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."
Rihanna has supposedly made just over a million and her manager says that most of that was spent on making her as big of a star as she is now.
"Then came for the repackaging of her album 'Good Girl Gone Bad,' which is called 'Good Girl Gone Bad: Reloaded,' that entire project was funded through Rihanna's money. 'Take A Bow' was bought through her money, the video was created with her money and so is her most recent video and single 'Disturbia.' The label didn't even want to pay a dime for anything! Close to 750,000 was spent on those two songs alone. And now she expects to see money in her account?"
Let's keep in mind the person telling us this information is Rihanna's angry, recently fired manager. But, still, is it possible that Rihanna is really that close to being broke?!?
ONTD
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i believe it! anyone remember TLCs problems?
yeah this doesn't surprise me... the music industry is notorious for screwing its clients. I think the majority of celebrities have no idea where their money is half the time, well until it's gone.
Hopefully Chris pays for dinner and travel expenses unless he is being screwed too.
seems like a violation of privacy to be releasing exactly how much money this girl has. i guess the client-confidentiality agreement would have ended when she was fired, but still...
if having $20K in the bank is considered broke than i'm poor as hell. anyway, i have no sympathy, i've seen pictures of this girl doing two things: vacationing in expensive hot spots, and shopping.
here here!
AMEN!!!!
Boo-whoo for her according to "celeb" standards. She better stop shopping and start wearing those free clothing she gets.
me too...............................
and you are jealous because she worked hard and you choose not to ???????????????????......got to be joking , there is too much hate in this world....why ge mad at a person for exceeding thier limits and pushing themself to achieve it?????? go and find something to focus on except men
is that for real?? I thought she was a huge star and had lots of hits??!!! you would think her record label would be rolling out the red carpet for her. very very strange.....do you think Beyonce is behind all of this?
How in the hick could you even ask that question?? Why would Beyonce have anything to do with her finances?? I just think that maybe her management team did use her money to promote her, which in my opinion was a bad idea.
what on earth does Beyonce have to do with Rihanna's financials???????
HAH YEAH JAYZ HOOKED UP W/ RIHANNA, GOT INTO HER BANK ACCOUNT && BOUT BEYONCE SUM PANTIES. . IF BEYONCE IS GONNA ROB ANYONE IT AINT GONNA BE A #8 ALBUM SALES ARTIST!!
de ja vu - rip selena the same incident
Yea right
you look like a martian
this isent tru..if it was..why would she be on vacation?
you've never heard of people buying jewelry and clothes and are about to get evicted?
whatever, even if it is true a lot of people will come up "save her" and she'll make a load of money again.
Do you guys remember there was an information that the Shut Up & Drive video costed more than 500.000 $? And they say 250.000 $ for SU&D and DSTM together? Then she sold 150k in the first week but they forgot about Europe and the rest of the world. Her sales are at 5 million wolrdwide right now and she's broke? And her GGGB Reloaded is in the Top 10 of the BB 200 chart again. It's so FAKE. + Who would write so much information. They have mentioned every single, every album, every tour, just everything. It's like a fan or a hater wrote that. and don't you think she would switch to a different label if this happened.. Thats impossible. She made Million of money out of her top 4 hits and diturbia is number 1 on the charts right now. This is some bullshit that a very smart hater wrote. Remover this ****. Its not true.
eeks! vera - new york maya be right. no other sites are posting this stuff and it seems a bit far fetched. i hope it's B.S for Rhianna's sake!
It cost money to make an artist, usually the record company puts the money first to market the artist, video, albums, promotion etc. Then when the artist starts making the money from album sales, concerts, endorsments. The record company takes their cut first, whatever money they spent promoting that artist, plus interest. Then there's the manager's cut, the lawyers, the agents. After everyone gets paid, then the artist sees some money. If the artist is big, like Beyonce, or Madonna or Britney; they see more of an income coming in. Also if the artist writes his or her own music, that helps with more income coming in. This is the reason artist have to tour and promote the hell out of their albums. They also need a gimmick to sell to the public, so we are interested and keep coming back for more. Is not what we all think, sometimes artis are all over the media, but they don't make as much money as we think.
......also I must add they used Rihanna's money to fund the videos, usually the record company pays for it and then they take it out of the artist cut from album sales. I don't think Rihanna knew how her money was being used, or she is just naive about the industry.
Um. . .New York Major--first, you need to pick up a copy of Hooked on Phonics. Secondly, you're an idiot. Do you know how much an artist makes off of each record they sell? Pennies. Literally. No artist nowadays depends on music to make them wealthy--it's all about endorsements and other deals (why do you think Jay-Z opened 40/40, Beyonce started Dereon, 50 Cent started endorsing Vitamin Water, etc. . .?). Plus--Rihanna can't just up and switch records companies--she's locked into a contract. Having top hits doesn't mean you have money. It all depends on the type of deal you have, and where the money you make goes--which is why if what you say is true, and they spent almost 1 million dollars on 2 videos for her, it's not surprising she only has 20K in the bank. Record contracts 101--any money the record company puts out for you MUST be recouped. You don't get paid until they get every dime that they've spent on you back from your album sales. They've spent A LOT of money on Rihanna, because they had to over compensate for her non-existent talent. The girl can sing, dance, or perform well--she just looks good. It costs money to manufacture a star, and Rihanna was very expensive. Thus, she won't see any real wealth until everything has been recouped, which is exactly why what her former manager said makes sense. Remember--she was just a girl from Barbados. No education, no family wealth, etc. . . Just a pretty exotic look. Her albums have never been strong sellers because the public sees her as a singles artist. Sadly, this is the tune that too many artists sing--although it's very difficult for me to muster up sympathy for Rihanna. 20K is far more than her voice is worth, so she's actually made out pretty well.
this is predictable.........u seem to know soooo much where r u????? what r u doing????? get focused on your own s#2465t
You are abosolutly right. Rhianna is a pretty face and I admire her style and grace but she got to have that drive. Chillin with Chris Brown aint going to get her no where. If she was promoting some perfume, a clothing line then I would think these acusations aren't true but all she has is covergirl at the moment and I dont see her on to many commercials. At the end of the day I think this entire situatation is a lack of guidence on her family part regardless of how much education she has or where she comes from money is money, and at the end of the day you should be keeping a close eye on your money and how it is being spent. One thing I don't see from her is her family??? Beyonce, Britany, even down to Justin Timberlake had parents handling there affairs when they first got on she is still so very young where is the family????
Yeah, I'm not buying it (and if it is true, she shouldn't be buying anything either). Seriously though, I just read her island's newspaper and she was given a 2008 blue Land Rover! She can't be that broke!!!!
Anyone remember MC Hammer? The posts here always amaze me when everyone assumes that just b/c you are a celebrity, you have a good business/financial manager and you are a multi-millionaire. It is simply NOT always the case. There are plenty of broke celebs. Fame doesn't equal money sense.
As for her traveling shes always seen in Barbados...umm thats her hometown. Its probably not costing her a lot to vacation there.
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