Pop superstar Rihanna joined the billionaires’ club this week as she becomes the world’s richest female musician. The Barbados native joined an exclusive group of celebrities with a current value of $1.7 billion. She also joins a list of a dozen Black billionaires in the United States.
Rihanna Worth $1.7 Billion
According to Forbes, Rihanna’s fortune currently stands at about $1.7 billion. Only media host Oprah Winfrey ranks ahead of her as the wealthiest female entertainer. She achieved the billionaire distinction at a fairly young age of 33.
But while Rihanna may be known for hits such as “Umbrella” and “Diamonds,” her fortune isn’t entirely dependent on her golden voice. Unlike most artists, Rihanna doesn’t entirely rely on her musical career for her wealth. Instead, Rihanna invested in beauty and fashion companies that made it big among her followers.
Fenty Beauty, taken from her real name Robin Rihanna Fenty, is a certified billion-dollar company. The current value of the luxury line is $2.8 billion, and Rihanna holds 50% ownership.
In addition, the entertainment icon also owns cosmetics firm Fenty Skin and the lingerie shop, Fenty X Savage. The latter also holds a $1 billion market value. Rihanna founded the Fenty line in 2017 in partnership with luxury goods titan LVMH.
The companies bearing her name feature a large lineup of beauty products, skincare, and lingerie. It also features a more inclusive range, developing products that accommodate more skin types and colors.
Even with the pandemic, demand for the makeup company remained fairly steady. Even as LVMH reported decreased revenue directly related to the pandemic, Fenty showed “good resilience” and showed “a significant improvement in trends in all its activities compared to the first nine months of 2020.”
Inclusive To All Women
When Robyn Rihanna Fenty launched Fenty Beauty in 2017, she wanted to create a cosmetics company that made all women feel included. Her products are available online and at Sephora stores, which LVMH also owns.
The availability and wider range translated into instant success. After a year, Fenty Beauty brought in more than $550 million in revenues. It beat out other celebrity brands like Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty, and Jessica Alba’s Honest Co.
In addition, Rihanna managed to captivate a very large swath of the world’s women with disposable income. It helped that her social media accounts have many admirers. Her Instagram account has 101 million followers. Meanwhile, 102.5 million people follow her on Twitter. These accounts present a very large stage for her to advertise her products.
She Also Earned Money As An Artist
Despite being identified as a very successful pop artist, her artistic earnings pale in comparison to her Fenty Beauty investments. However, her musical and endorsement earnings aren’t spare changes as well.
In addition to her $1.7 billion net worth, Rihanna made $46 million in 2020. She ranked number 60 in the highest-paid celebrity list in the same year. If there’s anything fans complained about, it’s her tight schedule. Many followers await her latest work. Her last one? Anti, which she released way back in 2016.
Watch the Forbes video featuring Rihanna as the latest self-made billionaire:
What do you think about Rihanna? Do you admire her for her business acumen? Or, do you still like her more as a gifted artist?
Let us know what you think about Barbados’ favorite daughter. Share your comments in the comments section below.