Rihanna as The Beverly Hillbillies – loses 2.4 million dollars overnight (American $: that’s real money!)

RiRi’s Beverly Hills mansion purchased in 2009 for 6.9 million – now listed for 4.5 million

by Nevermind Kurt

Rihanna got plucked like a chicken by the fancy Beverly Hills real estate crowd – but the truth is that she was little more than a rich teenager with zero life experience when in 2009 she bought a renovated home held out to be the latest, greatest and “worthy” of an international Star.

Too bad Rihanna didn’t have enough experience to make an informed decision on a multi-million dollar property purchase – because the home was almost 50 years old. Any fool purchasing a 50 year old home would have looked for certain indicators of problems: but not Rihanna, who got suckered. Any fool could have seen that the porch she now complains about was a natural funnel to direct rainwater into the structure of the home. (Clue: when the porch deck is two inches higher than the door it slopes towards, rain will run into the home. DUH!)

Rihanna: Another naive lottery winner

To paraphrase P.T. Barnum (or David Hannum or Hungry Joe Lewis for the purists), “There’s a sucker born every minute and woe to any young and naive lottery winner”

That is what Rihanna is when you get right down to it: a young lottery winner with no experience at money.

Rihanna fit the formula: thin, pretty, darker skin but without negro facial features to distract the mass markets. Lots of energy. Trainable. Voice? Doesn’t matter much these days because the computers take care of that whether in the studio or live on stage.

The product was trained, packaged, tweaked and mass-marketed. The product made big money for Robyn Rihanna Fenty and her creators.

To earn money is one thing. To hold onto it is another.

Rihanna launched a lawsuit last August against everybody in sight including the home builder, the former owner, her real estate agent and home inspector and probably the paperboy too.

The lawyers will be the only winners right now, but Rihanna might be a winner if she learns from this.

There is danger ahead for our young lottery winner.

If Rihanna doesn’t learn to handle money and to look after her own affairs – if she doesn’t stop hosting $20,000 dollar nights on the town – if she doesn’t realize that her income potential and popularity have a shelf life…

If she doesn’t start saving and wisely planning for the future… Rihanna might end up like so many other former superstars.

My advice to the bad girl: It doesn’t matter at all how much you make. What counts is how much you keep.

Further Reading…

The Real Estalker: Monday Morning Morsel: Rihanna

Forbes: Rihanna’s rain-soaked home for sale

Zillow real estate listing for Rihanna’s home

TMZ: Rihanna – I Got Duped Into Buying a Crappy Mansion

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23 Comments

Filed under Barbados, Music, Rihanna

23 responses to “Rihanna as The Beverly Hillbillies – loses 2.4 million dollars overnight (American $: that’s real money!)

  1. baje000

    Dear oh dear. Isn’t it fashionable to put down Rihanna. Yes she is young and inexperienced but she has a lot of people around her who aren’t. She is no fool. She DID have a property inspector look at the property before she bought it (and she is now suing them).
    A little fact that you chose not to point out … but then again if you did then you would have had nothing to write about. I enjoy BFP but this post is rubbish.

    ps
    And do you REALLY think she doesn’t have a financial advisor and is just spending money willy nilly. Geez

  2. WordSong

    Yes she did have that inspector. I remember the story well. It is very fashionable for whoever writes here to place the idea of owning money over any other aim and objective. Note the trend. I have. Disgusting!

  3. hackoday

    BFP points out that she sued her home inspector: ergo she had one.

    History is crowded with Stars who relied upon their “advisors”. WTF was her home inspector doing? What was her real estate agent doing? Answer: her advisers were ripping her off and setting her up.

    BFP’s point is that she had no life experience to counter this so she lost over 2 million dollars. Rihanna would do well to listen to the criticism of those who are appalled that she lost that much money because those people know it didn’t have to happen. BFP is correct: they plucked her like a chicken and now she is being plucked some more..

  4. Los Angeles Real Estate Market

    In case anyone hasn’t noticed, the Los Angeles market is down somewhat even for the higher price properties.

    I suspect Rihanna is extremely busy with her career and delegated the inspection and negotiation to someone else.

    The alternative for her was to stay home in Barbados where they really know how to fleece a buyer!

    The only constant is that the lawyers will make lots of money that well exceeds the cost of doing it right in the first place.

    In Los Angeles there will be an end to the lawsuits. In Barbados, the end never comes.

  5. zangzing

    How busy does one have to be to delegate a 7 million dollar purchase?

    A better question would be: How stupid and naive does one have to be to delegate a 7 million dollar purchase?

  6. Newbie

    It doesn’t seem to matter who you seek advice from when money of any amount is involved. We cannot blame RiRi for the trouble she may be in.
    I am Bajan, but no fan of manufactured superstars, there are equally good, maybe better singers here in Barbados alone that have not had Rihanna’s luck. To make my point lets all look at CL FINANCIAL, Investors had Governments to oversee their money and what is happening right now? MONEY MAKES THE WORLD GO AROUND??? The MAIN people that makes money in these affairs are the lawyers and they are the ones that put themselves in the position (MINISTERS OF PARLIAMENT) of helping to formulate the laws, AND BOY DO THEY KNOW HOW TO CIRCUMVENT THE LAWS!
    THAT IS THE ONLY TREND THAT I AM NOTICING NOWADAYS.
    If I were King for a day UNPRINCIPLED LAWYERS would have a pretty price to pay.

  7. Weston

    “darker skin but without negro facial features to distract the mass markets.”

    Was yet another example of racial stereotyping really necessary?

  8. WordSong

    Artists, stars, creative people, who are highly successful are not responsible for their financial affairs. It is very challenging for them to be in total control of their on -stage and other activities and still manage finances. they hire people to do it for them. Sting, one of the most popular stars ever on the planet had to fire his accountant a few years ago – of more than 15 years standing – for fleecing and plucking him. Toni Braxton and others went bankrupt. It is not that they do not try. The market is poised to “abuse” their naivetee, especially new kids on the block. Leave Rihanna to learn her lesson, she has earned this rite of passage. Leave her alone. It’s a lot of money. I’m sure that’s why she’s suing because she is listening and know she has been duped, like so many of us who allow frauds and false people to come around us, in the hope that they have some integrity. She is just growing up and growing up is hard, even when you have money. Isn;t it?

  9. BFP

    Weston said:

    “darker skin but without negro facial features to distract the mass markets.”

    Was yet another example of racial stereotyping really necessary?

    BFP replies:

    Hello Weston. Pointing out the racial stereotyping in the music industry is not racial stereotyping on our part: it is pointing out the truth of that industry.

    We’re not the first to make the observation that today’s music industry looks for a package and part of that package for female singers is that their skin cannot be too dark, and their facial features cannot be too negro. No wide noses or flaring (visible) nostrils. Black women have to be incredibly talented if they are different than the desired “formula” package. The same goes for Asian singers: no visible nostrils.

    I’ve heard that Aretha Franklin voiced the opinion that despite her obvious talent and energy she wouldn’t be considered by any label today because she doesn’t fit the package requirements. It was different in her time when the voice was the thing. Today the big labels prefer their black girls to look less African and more European.

    If you want to fight racial stereotyping, we have to talk about it openly. That’s our position and we hope we’ve convinced you to reconsider your perspective.

    Clive

  10. anon

    BFP= envious bunch of white nracists

  11. bajeabroad

    BFP is one jealous set of bastards!

  12. Mervin

    Another negative Rhianna story! Just post one positive story and you can be as negative as you want.
    Property values are down all over America. Some have lost more than Rhianna and some have lost less. Old news!
    I don’t always agree with what she does with her money. Seriously, does she really spend $20 000.00 a week on her hair. At the end of the day there is only one person’s money who I have to worry about and that is mine. As for the music it all about how you look then how you sound, especially for the women. Sad but true.

  13. 73

    The way I read the story is she’s being quite smart about it.

    She doesn’t want the house any more. She seems to be spending a lot of time in the U.K. these days.

    She understands if she wants to shift it quick in the current real-estate market, it’s going to be difficult. But shifting it quick and banking the money is preferably to not living there and having to pay the upkeep.

    So she’s stuck it on the market at a ridiculously low value and advertised it as severely water-damaged (although there probably isn’t that much wrong with it), so she can sell it and sue every f*cker she can for the difference she would have lost anyway.

    Pretty smart I would say, like most of the things she does. I think she’s being advised.

  14. Crabbie

    Does anyone remember what happen to Toni Braxton she got ripped off by everyone around her and she is still trying to get back to what she was before.

  15. New Road

    So far this formerly poor black Bajan chick from Westbury Road who left school at 15 is proving smarter than the BFP’s want us to believe.

  16. millertheanunnaki

    This is how MSN Celebrity page of 11-11-11 on famous celebrities’ romance break-up refers to Rihanna:

    “Rihanna took on a tough persona after she split with singer Chris Brown in 2009, after he reportedly attacked her after the Grammys. Her album Rated R was due out, and the Barbadian goddess became more edgy with short hair, a sharp attitude and kick-ass clothes.”

    Is this the personna of a stupid girl! Leave the woman (sorry goddess!) alone? She provides (FOC) more advertising & promotion value for this 2×3 rock than all the millions paid by the BTA to slick-ass rip-off tourism promotional agencies.

  17. X

    @miller – you may have to eat your words after seeing what the BTA orchestrated with NBC on this morning’s Today show. That’s the best promotion of Barbados I’ve ever seen.

  18. millertheanunnaki

    X November 11, 2011 at 8:00 pm
    The average American does have not that kind of disposable income to afford Sandy Lane or similar fare. They have champagne taste but “miller” beer pockets. Rich Americans don’t watch the idiot box unless there is news or scandal involving them.

  19. Analyzer

    I watched ‘Where in the World with Matt Lauer’ on NBC this morning, it was great! Bajans should wear feather headdresses on the beach more often and not just at Crop Over. Alison Hinds was terrific and Gabby wrote and sang a splendid song about Matt Lauer. Maybe people tivoed it to watch it later? Can you only get the drink “Monkey in a glass” (I think they called it) at Sandy Lane. Not everybody can go to Sandy Lane.

  20. Mr. Realistic

    Miller and assorted idiots you all think the NBC people should’ve gone to the blocks or Bongo Lights even the Cavans Lane dancehall where they murdered the two brothers instead of Sandy Lane?. Barbados is so full of people who hope and pray for the worst to happen to this island its scary.

  21. poor people governor

    how this gets more comments than a murder smh a murder which affects us as a society

  22. Analyzer

    Because people do not know the facts. Apparently this man has had several previous convictions.

  23. millertheanunnaki

    Mr. Realistic: November 12, 2011 at 5:21 am

    Neither do I think NBC should target the rat holes of New York, Washington or Chicago!
    All I am saying Mr. Realistic, is don’t count your chicken before they hatch! Of course, Sandy Lane is the best there can be to represent Barbados! So too is Port Charles & the COW interview with Trevor McDonald for the British market. Lt us wait and see what will come of it! Meanwhile, there is a lot o f housekeeping that needs to be done in a hurry if we are to leave a positive and “we want more” lasting impression on the potential new arrivals.
    I know that Adrian Loveridge would ensure that peace and quiet lives up to the boast but will Bajans in general?

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