Rihanna being broke is the latest rumor in circulation on several international entertainment gossip websites and blogs. It said that her record label Def Jam. did not properly fund the R&B superstar Rihanna. However, the question is - can Rihanna be broke after her recent album Good Girl Gone Bad sold around 5 million copies worldwide?
According to information on nationnews.com a family member told the SATURDAY SUN these types of rumours come with the territory.
"We never addressed rumours in the past and we are not going to start now," said the member of Rihanna's family.
This is how the rumor got started
Stories have been appearing on several international websites and blogs that the Barbadian-born superstar only has US$20 000 left in the bank.
The information was brought to the public by a Patricia Williams, who claimed to be Rihanna's business manager who was fired by the Grammy-winning songbird.
The blogs read that Williams was fired after Rihanna discovered there was only US$20 000 in her bank account. The story was first published on Page Six, an on-line edition of the New York Post, from which Williams said she was fired "for no good reason, all in ignorance" and is "livid" with Rihanna and her management company Rebel One's decision to fire her.
"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".
The Barbados-born singer has had four back-to-back albums, including a re-release, since her debut, Pon De Replay, in 2005. 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," she said.
"Since 2005, Rihanna has been sponsored by the likes of JC Penny, Samsung, CoverGirl, Secret, Venus Breeze [and so on], and has gone on two major tours, most recently . . . Kanye West's Glow in the Dark tour."
Williams said close to $750 000 was spent on the most recent video and single Disturbia, and that Rihanna made "a little bit above a million" and "all of it was spent on making her as big as she is now".
Source: nationnews.com
Posted on August 23, 2008 15:19
well thats still $19,999 more than i have right now suh a nuh crime
Posted on August 23, 2008 16:18
there's no way rihanna can get broke with all that money she made if shi never invest it properly then she would be a fool
Posted on August 23, 2008 16:55
rihanna caan broke after shi nuh stop tek chris brown money i would more think that chris brown soon get broke or him broke already
Posted on August 23, 2008 17:12
rihanna is a b*tch she must be spending her money on man she's not use to living this kind of lifestyle and shi young so anyone can rob her r*ss
Posted on August 23, 2008 17:42
Well mek we see if we can sort it out...
Rhianna as a new artist probably get anywhere from 9-15% royalties... Let's say 12% of $14.98 (Suggested Retail Price)
Producers affi get pay @ a 3% rate (12%-3%)= 9%
25% packaging reduction (9%x.75) = 6.75%
15% free goods (6.75%x.85) = 5.74%
35% reduction for reserves (5.74%x.65) = 3.731%
3.731% x $14.98 (SRP) = $0.5589
So we down to about 60Cents a CD in artist royalty. Now before the artist earn a dime, dem affi recoup. Recording costs first... So if Timbo produce a ting and charge $200,000 Rhianna affi pay back before she start earn one r*ss dime. And that nuh based pon di overall retail price of the CD, it based pon Rhianna 60cents a CD royalty. Suh how much CD affi sell fi she pay back Timbo fi one (use and leff) track??? 333,333 CD's... Radio promotions affi pay. Management tek a 20% chump. Lawyer tek a 10%. Accountants tek a nice piece (suh she nuh end up like Beenie Man)... Unnu get di idea! Impossible fi she bruk... please.
Posted on August 23, 2008 20:13
sadiki mi like how yu lay it out. nuff people nuh undastand de ting. toni braxton and tlc did sell millions to and dem did have fi file bankruptcy. mi wouldnt surprise if it come out say rihanna sign some mess up contract weh a give def jam de whole a de money
Posted on August 23, 2008 22:12
Sadiki yuh sound like one of those managers who robbed artiste regular, and mi nuh think yuh lawyer suh yuh must be a robber. it's a regular thing regular thing record labels do have these one bag of made up bills tell the artiste that they had owe a lot of people so now it's time to pay back. Anywayz Rihanna won't be making any real money for her self until about the next two years time.
Posted on August 24, 2008 02:19
Look Rihanna take some time off and learn this Business of Music. It is very complex. You need to fire every one and start over including Def Jam. At the beginning of the month go though your calender and all the cost for that month, at the end of the month sit with your self or your trusted accountant and make sure that all the numbers fit. You can not leave things up to all these people that only want to make sure of their commission, you have to stick you head in your business like an Alley Cat. Wiiliams if your paper work adds up then defend it Girl because super stars cost money some time more than they actually make. Rihanna your a Caribbean Girl stay away from the shit stick people, no good will follow you with them kind of IT"S around. And all you Jamaican people you all need to learn how to spell your own language or just write in standard English
Posted on August 24, 2008 07:55
This could all be true! But then again you will never know... Di gyal cross wid ryanna!! you can't trust a werd she sayz!
Posted on August 25, 2008 10:27
Toni Braxton, TLC, Back Street Boys, Elton John, MC Hammer Mike Tyson etc etc etc have gone broke due to shady contracts, theiving managers/agents/reps, & just overall improper management of their money. As Sadiki said, a whole heap of people have to get paid before the artiste gets paid - so all the elaborate dancers, stage setting, makeup artistes etc get their money before the artiste.
I'm not surprised now to hear that any artiste go broke, & definitely not surprised if Rihanna goes broke. With all the elaborate requests she has for a simple show, going broke is a great possibility where she's concerned.
Posted on August 26, 2008 09:19
Sorry INFURIATED. I'm just a man with a clear understanding of the music business, trying fi impart some wisdom pon mi people dem! My artist dem get 50% cuts... BIG MAN and BIG WOMAN deals... we nuh deal wid pickney tings... and Vanessa leff me people dem... a suh "williams" spell and how di f*ck she gwan "sit with her self"?
Posted on August 27, 2008 07:16
i dont think that she can be broke further more if her album sold that much.that is bull sh*t...you go girl.
Posted on August 28, 2008 13:18
From what i know, it takes a lot to keep up with superstardom. When u look at the breakdown of how many people have to get paid out of an artist's money its just so amazing. All the money spending went to good use though, because today this girl is a megawatt Superstar. Her name is made and her fame is up there with the likes of Britney Spears, Michael Jackson, Beyonce etc. Not bad for a chick from the Islands who just came in the game in 2005. If Rihanna is really broke then someone needs to get sued so she can recover the majority of her money back. She's new to the game and probably was'nt forewarned about unscrupulous accountants and managers who seek to get rich quick by any means....even if it means blatantly robbing the artist. With four hit Albums under her belt, more worldwide tours to conquer, more endorsements coming her way, and royalties pouring in....how can Rihanna really be broke...PLEASE-just cut it out!
Posted on August 28, 2008 14:44
if u do ur research u will know its possible... she not even selling units she selling singles big diffrence. plus she on def jam please tell me an artist beside jay and kanye who really get paid on that label.
Posted on September 6, 2008 12:46
Anyone can go broke no matter how rich you are. It all depends on how your money is handled. If not properly then you won't have much left.
~ Ms. Kawaii
Posted on September 6, 2008 21:09
yu nuh see how dem wicked
20,000us inna yu bank account an dem style yu as bruk.. she neva have dat as a yute a barbados
Posted on September 8, 2008 17:58
first of all im jamaican and i dam sure could speak cleary speak english 2 this is 4 vanessa peck poe head any hoze rihanna she needz 2 stop doin vodoe on chris brown and stop tellin hot 97 that itz her in chriz brown b cause her azz is goin end up like whitney houstun and kc
Posted on December 10, 2008 03:48
Good news