Rihanna Is Officially A Billionaire: A Look At How Her Empire Shines Bright
ID 194471281 © Asaturjan | Dreamstime.com
Robyn Fenty, or Rihanna as she’s more commonly known, is officially a billionaire. The creator of the Fenty empire is now worth an estimated US$1.7 billion, reported Forbes.
This milestone makes her the wealthiest female musician in the world, and only second to Oprah Winfrey in the rankings of the richest female entertainer.
While she’s been making music for over a decade, most of her fortune comes from Fenty Beauty, her beauty range that’s expanded from makeup into skincare too. Forbes confirmed that Rihanna currently owns 50% of the brand, which is estimated to be worth a whopping US$1.4 billion. The rest of her empire lies in her lingerie brand, Savage X Fenty, which is worth US$270 million.
Rihanna’s entry into retail has broken many barriers for women. For example, the mogul recently introduced the first Pride intimates line for Savage X Fenty, and enlisted an all-black female biker gang to model its offerings. Fenty Beauty first made its mark on the industry by offering a record number of foundation shades for all skin tones, and also embraced makeup for men.
In its first full calendar year in 2018, Fenty Beauty, which is a 50-50 joint venture with LVMH, brought in over US$550 million. It raked in more sales than other celebrity-helmed beauty brands, such as Kylie Jenner’s Kylie Cosmetics and Kim Kardashian’s KKW Beauty.
Plus, Rihanna’s foray into skincare with Fenty Skin last year has also yielded favorable results. LVMH said the new line was off to a “very promising start” and “generated unprecedented buzz.”
While not all of her brands have succeeded, such as the luxury fashion house (also named Fenty) that has shut down, most of Rihanna’s ventures have not only exceeded expectations, but cemented her status as a pop culture icon. The only other thing fans are waiting for? Her next album.
[via Forbes, cover image ID 194471281 © Asaturjan | Dreamstime.com]
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