How Rihanna Almost Went Broke Before Her Billionaire Status
Today, Rihanna is one of the wealthiest celebrities in the world — but that was not always the case. The singer-songwriter came from humble beginnings in Barbados and it wasn't until a chance audition with music producer Evan Rogers that Rihanna was plucked from obscurity. She was just 16 when she moved in with Rogers to begin her career and she was just as ambitious then. "When I left Barbados, I didn't look back. I wanted to do what I had to do [to succeed], even if it meant moving to America," Rihanna told Entertainment Weekly.
Rihanna rose to fame with her first single, "Pon de Replay," and went on to churn out more bangers, such as "Umbrella" and "Rude Boy." The pop star went from coming from a working-class family to eventually becoming a millionaire, and then, a billionaire. According to Celebrity Net Worth, Rihanna is now worth $1.7 billion, but a past mishandling of her funds almost caused her to become bankrupt.
Rihanna accused her accountant of giving her bad financial advice
Rihanna had already established her millionaire status when she almost lost it all. As reported by the New York Daily News, Rihanna had $11 million in the bank early in 2009, but the amount dwindled to $2 million by year's end. According to a lawsuit Rihanna filed against her accountant Peter Gounis of Berdon LLP, the "Diamonds" singer was advised to purchase a home around the $7 million price range, which she did. The docs stated that the house was damaged from water and mold and Rihanna ended up selling the house and losing $2 million in the process. The suit also states that her "Last Girl on Earth" tour was in the hole financially but she wasn't made aware of that fact by Gounis.
Following the lawsuit, which claimed gross mismanagement of her funds, Rihanna's former accountants countered with their own suit against the singer, per TMZ. The firm, Berdon LLP, stated that Rihanna's "own financial action or inaction" was her own fault. After battling it out, Rihanna and the accounting firm settled, with the singer receiving more than $10 million, as reported by Page Six. By that time, Rihanna had accrued her losses and was worth $43 million, but her smart business acumen was what led her to join the billionaires club.
Rihanna didn't become a billionaire from her music
While Rihanna has had some mega-hits throughout her career (and we are patiently waiting for some more), it was her businesses that skyrocketed her net worth. RiRi's makeup line, Fenty Beauty, was launched in 2017 and boasted a range of 40 different foundation shades. The brand was named TIME's 25 Best Inventions of 2017 and Rihanna told the publication, "It was also important that every woman felt included in this brand. We are all so different, with our own unique skin tones, so we started with the 40 foundation shades out the gate."
The following year, Rihanna launched her lingerie brand, Savage X Fenty, which raised her net worth by $270 million, per Forbes. Fenty Beauty is currently worth about $1.4 billion. On becoming one of the richest women in the entertainment industry, Rihanna told The New York Times, "It's tricky because it's hard to even accept that's where you're at because I know where I've come from. At the same time, it feels good to be able to inspire young women and boys, who like me, come from humble beginnings, who come from parents who are immigrants or who are immigrants themselves, to be able to do this."