There's no doubt the country is in the midst of an economic crisis.  Millions of Americans are filing for bankruptcy and losing their homes in record numbers everyday but when the crisis hits entertainers and business people then you know its bad!

Rihanna only has $20k, according to her ex-business manager

Multi-platinum artist, Rihanna, recently fired her business manager and accused her of stealing her money after learning she only had $20,000 in the bank.  Her former business manager, Patricia Williams, has responded to the claims.  Here's her defense, "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.  What would I steal from Rihanna?"  Williams explained, "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."  Williams says that Rihanna's financial situation stems from her record label, Def Jam, not properly funded her and that her management team, Rebel One Management, using her sponsorship and endorsement money to to fund her records and videos.   

Rihanna has endorsed many brands including Cover Girl, JC Penney, Samsung, Secret, and Venus Breeze.  She has also gone on two major tours, including Kanye West's "Glow in the Dark Tour." 

Williams goes to say, "I don't want to disrespect Marc's name (Marc Jordan, owner of Rebel One Management).  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 singles 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."  

According to Williams, Rebel One spent $750,000 on Rihanna's latest single and video for Disturbia.  She says Rihanna only made a little over a million and "all of it was spent on making her as big as she is now."

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Jermaine Dupri shuts down restaurant, employees' checks bouncing, rumors of being fired from Def Jam

Jermaine Dupri has been forced to close his health-conscious restaurant in Atlanta.  He opened Cafe Dupri in 2005 but the eatery never turned a profit.  In discussing the closure of the restaurant Dupri said, "The economy has changed dramatically and people just aren't eating out as much anymore.  People are cutting back everywhere and a lot of companies, including Cafe Dupri, are feeling the effect."

"For the past two months business at the Cafe has been down and if the business isn't making money, I feel it's a smart move to shut it down. Bottom line: If it doesn't make money, it doesn't make sense."

What doesn't make sense to the employees is that their paychecks have been bouncing.  According to WSB-TV, the employees found a notice on the door saying, "Thanks for patronizing Cafe Dupri.  We are closed indefinitely."  CEO of Cafe Dupri, and mother of JD, Cecelia Mauldin has issued notices to employees the last several weeks stating the payroll funds were not available.  A notice dated August 11th said that funds would be available at Sun Trust after the 12th.  

There are also rumors circulating that Jermaine Dupri is going to be fired from Def Jam.

On a positive note, just last week JD was featured on the Forbes list of Top Twenty Cash Kings in Hip Hop, with estimated earnings of $11 million last year.

Swizz Beats owes the IRS close to $900,000

Producer, rapper and entrepreneur, Swizz Beatz, real name Kasseem Dean, owes the IRS $900,000 according to reports. Swizz, who was number 7 on Forbes Hip Hop Cash Kings this year with an estimated $17 million in earnings last year.   

Aside from his many music endeavors, Swizz owns a stake in the Kid Robot company and has recently signed a deal with a mobile content provider, Temex.  Swizz Beatz also recently announced a joint venture with Tommy Hilfiger to launch an online television network called "Fashion Art Media."

Swizz told Forbes, "I'm like octopus, I'm doing alot of things at once."

However according to TMZ.com Swizz has a tax lien against him.

"The IRS records show there's a tax lien of $842,644.52 against Swizz (real name Kasseem Dean) and his estranged wife, Mashonda. By comparison, former NFL legend Bernie Kosar owes $228K, and Mini-Me has a $300K lien.  We put in a call to Violator Management, but haven't heard back yet."  -TMZ.com

Dame Dash's homes are in foreclosure

As we recently reported the cake-a-holic is on the verge of losing his homes to foreclosure.

According to the NY Post:

Eastern Savings Bank has filed suit against entrepreneur Damon Dash, charging the Roc-a-Fella Records co-founder hasn't made a payment on his $78,504.20-a-month mortgage since January. 

"YOU ARE IN DANGER OF LOSING YOUR HOME," reads the foreclosure action against Dash and wife Rachel Roy.

VIDEO: Swizz Beatz - Money In The Bank