Rihanna has filed a lawsuit against Prudential California Realty over a home she purchased in Los Angeles. According to the lawsuit, Rihanna claims that the realtor sold her a damaged home for $6.9 million in 2009.
The singer says that the home has severe structural problems that cause water to leak into the home due to bad drainage. Rihanna also claims that the home is uninhabitable.
With a net worth of $15 million, Rihanna stands as one of the richest entertainers under the age of 25. But like many young artists, she has handlers who are not looking out for her best interests.
Her advisers should have warned her against purchasing any home for $7 million considering today’s real estate issues and the declining value of homes.
It’s a frivolous purchase that could cost the star millions. Although artists spend most of their time concentrating on creating art, they must allocate time to become educated on proper money management.
Taking online business courses, reading books on finance and other business-related materials can help those who earn a tremendous amount of money to maintain and grow wealth. There are countless stories of rich musicians who ended up in the poor house due to unwise business decisions. –amir shaw
